FX.co ★ FTSE 100 Little Changed for 4th Session

On Thursday, the FTSE 100 remained unchanged for the fourth consecutive day as mixed corporate developments impacted market sentiment. Cobalt Holdings withdrew its proposed $230 million initial public offering, originally intended to secure funds for purchasing cobalt from Glencore, a company supporting the endeavor. Shares of Wizz Air dropped by as much as 27%, as concerns over rising costs overshadowed their profit performance—which analysts believe was bolstered by a tax credit. Despite reporting a 33% increase in annual profits due to robust income and effective cost management, CMC Markets shares also experienced a decline. Analysts presented a divided opinion, with some highlighting potential upgrades while others criticized the company's lack of clear cost guidance and strategic clarity. In parallel, the UK's statistical agency disclosed an error in April's inflation data, which had understated the rate by 0.1 percentage points, noting that corrections would commence from May.