FTSE 100 Slides On Mixed Earnings; Sainsbury’s Slumps 5%

U.K. stocks edged lower on Wednesday after mixed earnings updates from the likes of Greggs and Sainsbury’s.

Investors also looked ahead to the release of U.S. consumer price and producer price inflation data this week for additional clues on the Fed’s rate trajectory.

The benchmark FTSE 100 was down 14 points, or 0.2 percent, at 7,670 after closing down 0.1 percent on Tuesday.

J Sainsbury shares slumped 5 percent. The supermarket chain revealed a strong Christmas sales performance for groceries but falls in non-food categories.

Baker and food-to-go company Greggs soared more than 7 percent after reporting strong year-end sales.

Housebuilder rallied 3.6 percent after decent fourth-quarter results.

Hunting climbed 3.3 percent. The precision engineering group confirmed its 2023 financial performance aligns with previous guidance and market expectations.