UK's FTSE 100 kicks off week on caution; WPP shines on AI partnership

The mid-cap FTSE 250 ticked 0.1% higher. Bunzl Plc dropped 1.1% after the business supplies distributor said it would acquire a safety business in Brazil and Spain.

UK's FTSE 100 opened lower on Tuesday after a long weekend, with investors avoiding big bets on fresh worries over the U.S. debt deal, while advertising firm WPP logged its best day in over three weeks on its partnership with chipmaker Nvidia.

World's largest advertising group WPP Plc jumped 2.9% after announcing its partnership with U.S.-based chipmaker Nvidia Corp to build generative AI-enabled content for digital advertising. The broader media sector housing the stock rose 0.4%.

The internationally-focused FTSE 100 was down 0.2%, as of 7:06 GMT, after a few U.S. Republican lawmakers said they would oppose the deal to raise the United States' debt ceiling. The mid-cap FTSE 250 ticked 0.1% higher.

Bunzl Plc dropped 1.1% after the business supplies distributor said it would acquire a safety business in Brazil and Spain. Purplebricks Group Plc surged 8.5% after the online estate agent said it had received an indicative takeover proposal from top shareholder Lecram Holdings for 1.5 million pounds ($1.93 million) in cash.

 

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