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FTSE 100 adds 0.3%. FTSE 250 falls 0.5%
Spectris rises after accepting improved takeover offer from KKR
Bytes Technology slumps after profit warning
Greggs falls after saying profits could dip
National Grid slips with failures leading to Heathrow fire
London’s blue-chip stock index edged higher and the midcap index fell on Wednesday as investors assessed a mixed bag of corporate news, including a media report that AstraZeneca is moving its listing to the U.S.
The blue-chip FTSE 100 added 0.2% while the domestically focussed midcap index fell 0.5% by 0930 GMT.
FTSE’s most valuable company AstraZeneca is considering moving its listing to the U.S., the Times reported on Thursday, citing multiple sources.
“The CEO seems frustrated at the lack of financial support to open new laboratories and manufacturing facilities in Europe and might see a full U.S. stock listing as a stepping stone to receiving better treatment Stateside,” said Dan Coatsworth, investment analyst at AJ Bell.
The UK stock market has lost out on major initial public offerings in recent months including money transfer firm Wise and online fast fashion retailer Shein, with Brexit-related challenges pressuring UK market valuations.
Gains on Wednesday were led by industrial metals and mining stocks tracking higher metal prices. Glencore rose 3.2% and Ferrexpo and Antofagasta were both up 2.3%.
Oil and gas companies gained 1.6%, with heavyweights BP and Shell adding 2.2% and 1% each.
Among individual stocks, Spectris gained 4.6% after the firm agreed to a debt-inclusive 4.7 billion pounds ($6.46 billion) offer from KKR over Advent’s rival offer.
Bytes Technology slumped 26% to the bottom of the midcap after warning of lower operating profit for the first half of 2026.
British fast food chain Greggs fell 14.1% on saying its annual operating profit could dip as a heatwave in the UK discouraged customers from eating out.
Restaurant chain operator SSP Group climbed to the top of the midcap index, rising almost 8% after filing for Indian IPO of airport lounge operator Travel Food Services. (Reporting by Twesha Dikshit; Editing by Sahal Muhammed)
