The FTSE 100 was little moved at midday, described as “flat as a pancake,” with NatWest the weakest performer, down 2.4%. At the top end, JD Sports gained 1.7% despite reporting a fall in second-quarter sales, as investors welcomed signs of improvement in its North American business. The retailer also unveiled a further £100m share buyback.
The FTSE 250 slipped 0.3%, dragged lower by Hochschild Mining, which tumbled about 14% after cutting its production guidance for the year.
Across Europe, trading was subdued, with the Stoxx 600 up just 0.15%.
In currencies, the US dollar index rose 0.45%, sending the pound 0.42% lower to $1.34.
Looking ahead, attention is fixed on Nvidia’s quarterly results, due after the US close at 9pm BST. The world’s most valuable company, now worth over $4 trillion, saw its shares up 0.6% in pre-market trading. Futures for both the S&P 500 and Nasdaq edged higher, up just 0.03% each.
