FX.co ★ FTSE 100 Little Changed as Earnings Stream In

On Wednesday, the FTSE 100 remained largely unchanged as a mix of corporate earnings results tempered investor enthusiasm. The most significant setback came from Imperial Brands, which saw its stock decline by over 7% following the announcement of disappointing first-half profits and the impending departure of its CEO. Conversely, GSK experienced a modest rise exceeding 0.5% after revealing a $2 billion agreement to purchase a liver disease medication, demonstrating its strategic growth intentions. In contrast, Burberry's shares leapt nearly 10% amidst positive indicators of sales stabilization and a reaffirmed earnings forecast, bucking a trend of uncertainty in the luxury sector. The company also introduced a range of organizational changes as part of its ongoing efforts to rejuvenate the ailing luxury brand. Meanwhile, in the housing market, Vistry remained stable by maintaining its forecast, while Persimmon's decision to sell its broadband unit indicates potential further organizational refinement.