UK stocks experienced a slight decline on Wednesday following the release of official data indicating that the UK's economy unexpectedly stagnated in July.
According to the Office for National Statistics, real gross domestic product (GDP) showed no growth for the second consecutive month. This stagnation was attributed to decreases in production and construction, which were offset by an increase in services output. GDP had been forecasted to grow by 0.2 percent.
Over the three months leading up to July, GDP rose by 0.5 percent, driven by a robust performance in the services sector.
The FTSE 100 benchmark index was down by 0.1 percent, standing at 8,196, following a 0.8 percent drop on Tuesday.
Energy giants BP Plc and Shell saw gains, with BP rising by about 1 percent and Shell adding 0.8 percent, as oil prices climbed over 1 percent after reaching a 33-month low the previous day due to demand concerns.
Online property website Rightmove increased by 0.5 percent after rejecting an initial cash and shares bid from Australia's REA Group.
Sustainable energy company Ricardo fell nearly 2 percent despite announcing profitable growth for the fiscal year 2023/24.
GSK decreased by nearly 1 percent after the drug maker reported that its experimental herpes simplex virus (HSV) vaccine candidate failed to meet the main objective of a mid-stage trial.
Pest-control giant Rentokil Initial plummeted by 18 percent following a profit warning.
