London’s FTSE 100 edged lower on Wednesday, as a results-driven slide in shares of wealth manager St. James’s Place and mortgage lender Lloyds overshadowed upbeat forecast from clothing retailer Next.
The main index .FTSE lost 0.2%, as exporter stocks also weighed after the pound rebounded slightly from a 28-month low. The FTSE 250 .FTMC was roughly flat by 0709 GMT, though mall operator Intu (INTUP.L) tanked 16% after first-half results.
Shares of Lloyds Banking Group, Britain’s biggest mortgage lender, slipped 4.2%, as a further charge to meet claims for mis-sold insurance to consumers hit its earnings.
Wealth manager St. James’s Place (SJP.L) fell 4.6% after it missed forecasts for operating profit, as weaker client sentiment weighed on inflows of new money in the first half of the year and costs rose.
However, retailer Next (NXT.L) jumped 7.3% to a more than one-year high after it raised its full-year sales and profit targets. Rival Marks & Spencer (MKS.L) also gained 2.3%.
