FTSE 100 up as Just Eat, Smiths, Babcock Rise; ICG drops

The FTSE 100 edged up on Wednesday after hitting a three-month low on Tuesday as investors awaited US inflation data.

FTSE 100 up as Just Eat, Smiths, Babcock Rise; ICG drops

Just Eat Takeaway surged 20.5% following a deal to sell its US business, Grubhub, to Wonder for $650 million. Smiths Group shares skyrocketed 21% to an all-time high after raising revenue and margin forecasts, buoyed by robust growth across all divisions and the resumption of a shareholder buyback program. Babcock shares climbed 19%, driven by solid earnings and progress on its Type-31 warship contract.

Experian and intermediate capital shares fall on weaker results

Meanwhile, Experian’s shares dipped despite providing solid guidance, potentially due to a slower-than-expected recovery in its Latin American B2B segment. Intermediate Capital led the decliners, with shares falling as pretax profit came in 30% below estimates due to weak returns from its Investment Company unit and indications of rising costs.