FTSE 100 Steady Amid Mixed Corporate Earnings and Economic Data

Britain's FTSE 100 showed little change, as investors considered mixed corporate results and recent UK GDP data. The energy index fell sharply due to falling oil prices and potential U.S.-Iran agreements. Notable stock performances included a decline for Sage and rises for National Grid and JD Sports.

The FTSE 100 index in Britain remained largely stable on Thursday, navigating through a combination of mixed corporate earnings reports and freshly released UK GDP data. Investors are also gearing up for remarks from U.S. Federal Reserve Chair Jerome Powell later today. As of 1010 GMT, the blue-chip FTSE 100 inched up by 0.05%, while the midcap index saw a decline of 0.14%.

The energy sector faced a setback, dropping 2.9% following a 3% dip in oil prices. The anticipated U.S.-Iran nuclear agreement, which could ease sanctions on Iran, contributed to the decline. In stock-specific movements, Sage led the fall on the FTSE 100 as the software company highlighted small businesses' hesitancy to spend due to tariff uncertainties despite maintaining its growth forecast. Sage shares fell by 6%.

Conversely, National Grid's stocks rose by 3.3% after reporting higher-than-expected annual profits. JD Sports also gained 3.2% amid speculations of a possible acquisition deal involving Dick's Sporting Goods and Footlocker. On the economic front, Britain's Q1 growth exceeded expectations, giving a potential boost to Finance Minister Rachel Reeves. Despite short-term resilience, experts anticipate a likely slowdown in Q2 amid impending tax hikes and tariffs.

(With inputs from agencies.)