The FTSE 100 moved 0.02%, or 1.73 points, higher to finish at 7,625.72.
London’s top index lost some early gains due to weakness in the US and elsewhere in Europe during the session, but saw large multinationals supported once again by weakness in the pound.Michael Hewson, chief market analyst at CMC Markets UK, said: “It’s been another negative session for European markets with the Dax pushing ever closer to six-month lows.
“This comes across as somewhat simplistic given the damage higher oil prices could do to the margins of its other big caps like Unilever and Diageo, and other consumer retail, nonetheless it ought to be positive for the likes of BP, Shell, and Glencore.”Meanwhile, sterling slipped to a new six-month low against the dollar.
The group said UK sales tumbled 16% in its final quarter, with poor weather compounding woes amid a worsening UK clothing market.British Land was higher at the close despite telling shareholders that Facebook owner Meta has paid it £149 million to surrender the lease on one of its London office buildings.
The firm, which makes hardware and software for the entertainment industry, saw shares drop 203p to 347p as it also swung to a £50 million loss.A barrel of Brent crude rose by 0.47% to 93.73 US dollars as markets were closing in London.
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