FTSE 100 Little Changed In Cautious Trade; Tesco Gains After Raising Outlook
(RTTNews) - U.K. stocks were little changed on Wednesday as investors reacted to mixed earnings updates and weaker services data.
British service sector activity hit an eight-month low in September, a survey showed today, with the corresponding PMI dropping to 49.3 from 49.5 in August. However, that was better than the flash estimate of 47.2.
The benchmark FTSE 100 was marginally lower at 7,467 after losing half a percent on Tuesday.
In corporate news, telecoms testing services provider Spirent Communications plunged 31 percent after cutting its near-term outlook.
Grocer Tesco rallied 2.3 percent after raising its annual profit forecast.
Struggling fashion retailer Superdry jumped nearly 30 percent after saying it would sell its intellectual property assets in South Asia to Reliance Retail.
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