Shell earnings hit FTSE 100; Lloyds, WPP shine
(Reuters) – UK’s FTSE 100 slipped on Thursday, led by oil major Royal Dutch Shell after it missed quarterly profit estimates, but forecast-beating earnings from Lloyds Banking Group and ad firm WPP checked overall declines.
The commodity-heavy FTSE 100 fell 0.1% by 0721 GMT, with Shell declining 1.7% after its third-quarter adjusted earnings came in below an analysts’ forecast.
The decline in profit came as hedge fund Third Point built a large stake and called on the oil major to split into multiple companies to increase its performance and market value.
Lloyds gained 2.1% after beating analyst estimates for third-quarter results as Britain’s economy rebounded from pandemic lockdowns.
WPP climbed 3.6% as the world’s biggest advertising company lifted its full-year underlying net sales guidance again.
Reporting by Bansari Mayur Kamdar in Bengaluru; Editing by Subhranshu Sahu