FX.co ★ FTSE 100 Lags European Peers

On Wednesday, the FTSE 100 showed a modest increase but fell behind other European markets due to significant influences from a few major stocks. Glencore saw a decline of over 3.5% after it decided against a U.S. listing, citing it would not enhance value, alongside posting lower-than-expected first-half earnings due to softer coal prices and decreased copper production from operational challenges. Analysts expressed concern over increasing debt and limited capacity for shareholder returns. Similarly, Legal & General dropped more than 3%, despite reporting profits at the upper end of their guidance. Notable successes in retirement and retail sectors were overshadowed by underperformance in asset management and a lower-than-anticipated solvency ratio. Furthermore, Coca-Cola HBC plummeted by over 7%. Even though HBC surpassed expectations, analysts attributed the results to a reduction in foreign exchange losses rather than fundamental operational strength.