On Thursday, the FTSE 100 began weaker, sliding 0.3% or 29.98 points to 9,220.45, as investors focused on mixed corporate earnings and fears about global markets. Overnight weakness in US equities and cautious trading in Asia supported the move, although select blue-chip stocks showed strength.
Among the top risers, JD Sports Fashion climbed 2.84% to £90.44, adding £2.50, on strong retail momentum.
Rio Tinto also gained, up 2.80% to £4,881, after advancing £133 amid optimism around metals demand.
Halma rose 2.40% to £3,418, buoyed by an upgraded revenue forecast, while commodities major Glencore gained 2.26% to £337.70.
The gains from these stocks helped cushion broader market weakness but were offset by pressure in other sectors.
Swedish fashion retailer H&M posted stronger-than-expected quarterly results, reporting operating profits of 4.91 billion Swedish krona (£390 million), up from 3.51 billion krona (£280 million) last year.
The improvement was driven by a cost-cutting strategy that included closing 135 stores over nine months, mainly in Asia, Oceania, and Africa. Despite store reductions, sales grew 2% to 57 billion krona (£4.5 billion), aided by demand for autumn clothing lines.
Chief executive Daniel Erver highlighted improved margins but cautioned that shoppers remain “cautious” amid economic uncertainty.
Defence group Babcock International described recent trading as encouraging, noting strong growth in its civil nuclear projects and submarine support business.
While the marine division expanded, weaker revenues in its rail business weighed on its land operations. Shares, which have surged over 140% this year, slipped £9 to £1221.
The company reaffirmed medium-term goals of mid-single-digit revenue growth, margins of at least 9%, and cash conversion above 80%.
Co-op reported a half-year loss of £50 million after a £206 million hit to revenues from a summer cyber attack. The impact included £20 million one-off costs and a £60 million margin effect. The group expects further, albeit reduced, disruption in the second half.
Chair Debbie White praised the response of 53,000 colleagues, saying the retailer remains committed to rebuilding stronger.
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Pub operator Mitchells & Butlers, which owns Harvester and All Bar One, saw shares fall 8% to £243 after warning of slower sales growth in the fourth quarter. Like-for-like sales rose 3.1% in the period, compared with 5% earlier in the year.
The company flagged £130 million in cost inflation for next year, though it still expects operating profit growth of around 5% to £328 million.
The FTSE 100 remains under pressure as investors navigate corporate updates, global growth fears, and inflationary risks. While there is selective strength in companies like Rio Tinto, JD Sports, and Halma, weaknesses from Mitchells & Butlers and caution around consumer demand highlight the fragility of the risk assets.