London’s FTSE 100 slipped on Wednesday, tracking global market sentiment, while investors assessed corporate updates and top players traded without entitlement to their dividend payouts.
The blue-chip FTSE 100 index was down 0.9%, while the mid-cap FTSE 250 index was off 0.7% by 0714 GMT.
The benchmark index logged its best day in more than four months on Wednesday, extending a broad recovery to a second session after a heavy sell-off rattled stock markets on Monday.
Precious metal miners led declines on the index with a 2% loss, despite an uptick in gold prices.
The index was weighed down by Fresnillio, which traded without entitlement to its latest dividend payout.
Many top players like AstraZeneca, BP Natwest and Standard Chartered also traded ex-dividend, pushing the heavyweights over 1% lower each. Bank shares fell 1.4% after two sessions of gains.
The index declined broadly, as most sub-sectors traded lower.
However, non-life insurers gained 2.5%.
They were pulled up by a 10% gain in Beazley, which upgraded its combined ratio forecast for 2024 after first-half pre-tax profit nearly doubled to $728.9 million.
The stock topped the FTSE 100 index. Automobile and auto parts sector climbed 2.5%, as TFI Fluid Systems gained 11% after its half-yearly results.
FTSE 100 falls over 1pc amid global stock slump
Meanwhile, a survey showed that Britain’s jobs market showed further signs of cooling in July and employers increased pay more slowly.
The data will form part of the Bank of England’s discussions about when to cut interest rates again.
Among other stocks, British gambling group Entain climbed 7.2% on raising its annual net gaming revenue and earnings forecast after a better-than-expected second-quarter performance.
Hikma Pharmaceuticals gained 8.1% after the company raised its annual group forecast.
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