FTSE 100 Little Changed In Lackluster Trade

(RTTNews) - U.K. stocks were little changed on Friday, giving up earlier gains after the Treasury unveiled plans to reform the financial services industry.

The benchmark FTSE 100 was marginally lower at 7,467 after closing 0.2 percent lower on Thursday.

BP Plc lost 1.7 percent and Shell gave up 1.1 percent as crude oil prices languished near 2022 lows on worries of deeper global economic downturn.

Pendragon shares plunged 26 percent after Hedin Mobility Group AB announced that it does not intend to make a takeover offer for the used car dealer company, citing challenging market conditions and the uncertain economic outlook.

Porvair, an environmental technology group, jumped nearly 8 percent after saying that it expects a rise in revenue and an increased profitability in FY22.

Investment manager Man Group surged 5.6 percent on share buyback news.

Mining giant Anglo American declined 1.6 percent after warning on its ability to hit output goals.