BRUSSELS (dpa-AFX) - The U.K. stock market's benchmark index FTSE 100 fell to a two-week low on Wednesday, extending recent drop, as elevated oil prices amid escalating tensions in the Middle East continued to fuel inflation and interest rate concerns, forcing investors to refrain from making significant moves.
The FTSE 100, which dropped to 10,711.79, was down 38.25 points or 0.35% at 10,751.03 about half an hour past noon.
JD Sports Fashion, Computacenter, St. James's Place, British Land, Experian, Kingfisher, Entain, Pearson, Land Securities, Reckitt Benckiser, ICG and Informa lost 2%-4%.
3i Group, Barratt Redrow, Burberry Group, Autotrader Group, Barclays, Melrose Industries, Marks & Spencer, Relx, The Sage Group, Legal & General, United Utilities, Standard Life and Smith & Nephew also drifted notably lower.
Prudential eased by about 0.5% despite announcing that it would buy back up to $1.472 billion of shares by December 18, 2026, under its existing share buyback program.
Intercontinental Hotels Group climbed 2%. Halma, a leader in life-saving technology, gained 1% after it agreed to acquire Pyxis, a U.S.-based water quality monitoring specialist, for an initial $170 million.
Endeavour Mining, Natwest Group, Admiral Group, Standard Chartered and Shell posted moderate gains.
Low-cost airline Wizz Air Holdings gained about 0.75% after reporting strong August performance.
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