FTSE 100 Drifts Lower
(RTTNews) - The UK stock market is down in negative territory on Wednesday, unlike its peers Germany and France, which have moved higher thanks to a good show by stocks from the luxury sector after French major LVMH reported better-than-expected sales in the third quarter.
The benchmark FTSE 100 was down 40.02 points or 0.42% at 9,412.75 about an hour past noon.
Despite the company reaffirming its full-year guidance, Entain shares are down 5.4% due largely to profit taking after previous session's sharp upmove.
Imperial Brands, ICG, AstraZeneca, Babcock International, Unilever, Relx, GSK, DCC, British American Tobacco, Metlen Energy & Metals, Easyjet and BAE Systems are down 1.4 to 2.5%.
Burberry Group is gaining more than 5%, buoyed by LVMH's strong quarterly earnings. Land Securities is gaining about 3%. Next is up 2.8%, Ashtead Group is climbing up 2.5%, and Endeavour Mining is up 2.3%.
WPP, Coca-Cola Europacific Partners, Pershing Square Holdings, IAG, Lloyds Banking Group and Kingfisher are up 1 to 2%.
Shares of recruiter PageGroup are up nearly 7%, lifted by a resilient third-quarter performance.
Property developer British Land is up 5% after the company upgraded its forecasts for full-year earnings per share growth, following a growth in half-year profit and in portfolio and rental values.
Singapore Bourse May Test Resistance At 4,400 Points
Japan Core Machinery Orders Sink 0.9% In August
Malaysia Stock Market May Add To Its Winnings On Thursday
Japan Shares Tipped To Open To The Upside
Higher Open Anticipated For South Korea Shares
U.S. Dollar Weakens Against Majors
Australia Unemployment Data On Tap For Thursday
