British stocks traded largely flat on Wednesday as holiday-muted trading continued ahead of the Christmas break and the pound remaining firm against the dollar above $1.35.
As of 0806 GMT, the blue-chip index FTSE 100 rose 0.02% and the British GBP/USD gained 0.07% against the dollar to above 1.35.
Markets are observing a half-day schedule ahead of Christmas holidays, with the London Stock Exchange set to close early. Germany’s DAX is closed, while the CAC 40 in France is up 0.2% and trading on a half-day schedule.
Unlock premium chipmaker and AI insights with InvestingPro — 55% off today BP to sell 65% stake in Castrol to Stonepeak
BP PLC (LON:BP) has agreed to sell a 65% stake in its Castrol lubricants business to investment firm Stonepeak at an enterprise value of $10.1 billion.
The transaction will generate approximately $6 billion in total net proceeds for BP, which includes around $800 million for pre-payment of future dividend income on BP’s retained 35% stake. All proceeds will be used to reduce the company’s net debt.
Supermarket Income REIT acquires three UK supermarkets
Supermarket Income REIT PLC (LON:SUPR) has purchased three UK supermarkets for a combined £97.6 million, achieving an average net initial yield of 5.5%.
The acquisitions include a Tesco store in Aylesbury for £56.3 million, a Sainsbury’s in Sale for £33.8 million, and a Waitrose in Frimley for £7.6 million.
Defence Holdings appoints new CEO
Defence Holdings PLC (LON:ALRT) has agreed to appoint a new Chief Executive Officer who is expected to formally assume the role in early Q2 2026, the UK-listed defence technology group announced Wednesday.
The appointment comes after what the company described as a "comprehensive and highly targeted" search process that concluded ahead of the anticipated January timeframe mentioned in its recent operational update.
