Market Flatlines Amid Global Tensions and Mixed Earnings

London's stock indexes remained mostly flat with the FTSE 100 steady and FTSE 250 seeing slight gains amid investor caution due to ongoing Israel-Iran tensions. Defence stocks rose significantly as Britain announced new military investments, while wider market movements were influenced by mixed corporate earnings reports, especially in defence and luxury sectors.

London's primary stock indexes remained mostly flat on Wednesday as investors cautiously assessed corporate earnings against a backdrop of fragile geopolitical developments.

The FTSE 100 index was unchanged by mid-morning, while the FTSE 250 saw a marginal increase. This steadiness followed global market rallies earlier in the week, buoyed by a temporary ceasefire between Israel and Iran.

Notably, the defence sector outperformed, with Babcock leading gains on the FTSE 100 after enhancing its medium-term outlook. Concurrently, Burberry advanced on positive brokerage forecasts, despite ongoing labour market issues and global uncertainty affecting broader investor sentiment.

(With inputs from agencies.)