Last checked at 
(Alliance News) - Stock prices in London closed mixed on Thursday, with blue-chips ending in the red on renewed concerns of higher rates in the US, as well as a host of stocks going ex-dividend.
The FTSE 100 index closed down 22.91 points, 0.3%, at 7,907.72. However, the FTSE 250 ended up 110.20 points, 0.6%, at 19,790.49, and the AIM All-Share closed up 0.4%, or 3.23 points, at 855.51.
The Cboe UK 100 ended down 0.1% at 792.22, the Cboe UK 250 closed up 0.6% at 17,274.38, and the Cboe Small Companies ended up 0.4% at 13,987.18.
London's blue-chip index struggled after minutes from the most recent Federal Open Market Committee meeting revealed that US central bank officials anticipate further increases in interest rates will be needed to ensure their inflation target is met. That is despite signs pricing pressures are easing.
Stocks in New York initially shrugged aside the renewed rate concerns and pushed higher, but fell back to trade in negative territory at the time of the London equities close. The Dow Jones Industrial Average was down 0.3%, the S&P 500 index down 0.2%, and the Nasdaq Composite down 0.3%.
In European equities on Thursday, the mood was brighter. The CAC 40 in Paris ended up 0.3%, while the DAX 40 in Frankfurt closed up 0.5%.
Putting pressure on the FTSE 100 were share price falls for pharmaceutical firms GSK and AstraZeneca. The duo fell 1.6% and 2.5% after going ex-dividend, meaning new buyers would not qualify for their latest payout.
In London, Rolls-Royce topped the list of FTSE 100 risers, soaring 24%, after better-than-expected full-year results. New Chief Executive Tufan Erginbilgic unveiled a seven-pronged transformation plan to further improve performance and reduce debt.
Broker Shore Capital said the results, "show good progress towards improved profitability with Civil Aerospace performing better than expected".
Susannah Streeter, head of money and markets, Hargreaves Lansdown said, "investors have cheered the turnaround and welcomed the strategic plan".
Streeter said: "[The] restructuring plan announced is likely to see changes made to the global footprint, some divisions scaled back, and investment re-routed into other operations."
"The company will be helped in the meantime by the re-opening in China, with its core business of manufacturing and maintaining jet engines set to be boosted by renewed popularity of longer haul routes."
WPP climbed 3.4%. The London-based advertising and communications company said revenue in 2022 rose 13% to GBP14.43 billion from GBP12.80 billion in 2021. Pretax profit jumped 22% to GBP1.16 billion from GBP951 million.
Shares in John Wood Group soared 29% after it said after the market close Wednesday that it had rebuffed bid approaches from Apollo Global Management.
The FTSE 250 company said that it had turned down all unsolicited proposals from the US firm, with the most recent approach in late January valuing it at GBP1.59 billion. The cash offer for all of its shares was worth 230 pence each.
The company said: "The board carefully considered each of the proposals, together with its financial advisers, and has engaged on a limited basis with Apollo. The board unanimously rejected each of the proposals, having concluded that they each significantly undervalued the repositioned group’s prospects."
Mondi shares fell 4.8% despite strong 2022 results. The paper and packaging firm reported a pretax profit of EUR1.56 billion in 2022, up from EUR712 million in 2021. Revenue jumped 28% to EUR8.90 billion from EUR6.97 billion.
But the FTSE 100 listed firm warned it continues to see softer demand and pricing, however, despite declining input costs.
Shares in SigmaRoc leapt 7.2% after the quarried materials group successfully raised GBP30 million through a placing of shares at 54 pence each.
The AIM-listed company's management team actively participated in the structuring and allocation of the fundraising.
Proceeds from the placing will part fund 10 potential near-term strategic acquisition opportunities and four organic growth and carbon footprint reduction projects.
Taken together, the acquisitions and organic investment projects are anticipated, should they all complete, to generate approximately GBP42 million of net revenue.
The pound was quoted at USD1.2023 at the London equities close Thursday, down compared to USD1.2066 at the equities close on Wednesday.
The euro stood at USD1.0593 at the European equities close Thursday, down against USD1.0629 at the same time on Wednesday. Against the yen, the dollar was trading at JPY134.72, up compared to JPY134.67 late Wednesday.
Capital Economics expects the dollar to strengthen further.
"While US economic resilience may keep the green back strong in the near term, we still think that recessions in most advanced economies and souring appetite for risk will ultimately be the factor that pushes the dollar back towards its cyclical high later this year," CE analysts said.
Brent was quoted at USD81.71 a barrel at the London equities close Thursday, up from USD81.24 Wednesday. Gold was quoted at USD1,821.05 an ounce, down against USD1,825.00.
Friday's economic calendar has a Japanese inflation reading overnight, before US core personal consumption expenditures data at 1330 GMT.
The local corporate calendar has annual results from British Airways parent International Consolidated Airlines Group and half-year numbers from veterinary services provider CVS Group.
By Jeremy Cutler, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
