LONDON: U.K. stocks swung between gains and losses Wednesday, with the choppy direction in trade coming as a selloff in the previous session remained fresh in the minds of investors.
The FTSE 100 UKX, +0.02% was up 0.3% at 6,079.11, but had swung into the red after notching a gain of 0.9% in early trade.
Topping gainers was Ashtead Group PLC AHT, +5.56% with shares up 6% after the equipment-rental company said its full-year results should be in line with its expectations, and posted a sharp rise in first-quarter earnings.
But decliners included oil majors Royal Dutch Shell PLC RDSB, -0.91% RDS.B, -4.78% and BP PLC BP., -1.10% BP, -1.15% with shares in each down 0.6% as oil prices CLV5, -2.25% fell more than 2%. Oil prices came under renewed pressure late Tuesday after the American Petroleum Institute reported an unexpected rise in weekly U.S. crude supplies.
The FTSE 100 on Tuesday dropped 3%, shaken as dreary Chinese manufacturing data underscored worries about slowing growth in the world’s second-largest economy.
