Sharecast - At 0840 BST, the FTSE 100 was unchanged at 7,625.87.
Richard Hunter, head of markets at Interactive Investor, pointed out that markets in Asia came under some pressure following an unexpected interest rate hike from Canada on Wednesday, "which added to the previous Australian surprise, and which refocused concerns over the Federal Reserve’s next move, alongside the length of time which rates could remain elevated".
He continued: "UK markets opened in similarly reflective mood, with the interest rate increases from elsewhere providing an unwelcome reminder that the Bank of England is more than likely to follow suit, heaping further pressure on an economy which is already struggling to find meaningful growth.
"The gains were marginal in early exchanges, with every possibility of similarly sideways moves until such time as the US inflation number and Fed interest rate decision are revealed next week."
In equity markets, Rio Tinto (LON:RIO) was a high riser after an upgrade to ‘buy’ from ‘neutral’ at Citi, while NatWest (LON:NWG) was up as JPMorgan (NYSE:JPM) put the shares on ‘positive catalyst’ watch.
Budget airline Wizz Air (LON:WIZZ) flew higher after saying it expects to post a net profit this year after it reported a net annual loss due to higher fuel prices and the war in Ukraine. The company posted an operating loss of €535m, narrower than the €642m a year earlier.
Revenue more than doubled to €3.9bn, while passenger numbers were up 88% to 51 million. Wizz said it expects a net profit of €350 - 450 million in the current financial year, subject to the absence of adverse events such as an incremental impact from the war in Ukraine or delivery delays.
FirstGroup surged after the transport operator reported a better-than-expected full-year operating profit and extended its buyback programme.
On the downside, Crest Nicholson (LON:CRST) lost ground after the housebuilder warned that more interest rate rises would hit the property market, as it posted a slump in half-year profits.
Vodafone , Sainsbury, WPP (LON:WPP), Johnson Matthey (LON:JMAT), AJ Bell, Dr Martens (LON:DOCS), RHI Magnesita and C&C Group all fell as they traded without entitlement to the dividend.
Market Movers
FTSE 100 (UKX) 7,625.87 0.02%
FTSE 250 (MCX) 19,147.55 -0.02%
TechMARK (TASX) 4,568.66 -0.41%
FTSE 100 - Risers
Hiscox Limited (DI) (LON:HSX) 1,167.00p 1.13%
BP (LON:BP.) 478.90p 1.09%
Beazley (BEZ) 612.50p 1.07%
Ashtead Group (LON:AHT) 5,340.00p 1.02%
Rio Tinto (RIO) 5,149.00p 0.90%
Shell (LON:RDSa) (SHEL) 2,313.00p 0.81%
Hargreaves Lansdown (LON:HRGV) (HL.) 837.20p 0.65%
Abrdn (ABDN) 216.20p 0.56%
BAE Systems (LON:BAES) (BA.) 935.60p 0.54%
3i Group (LON:III) 1,992.00p 0.50%
FTSE 100 - Fallers
Vodafone Group (LON:VOD) 74.62p -4.92%
Sainsbury (J) (SBRY) 268.30p -3.49%
WPP (WPP) 861.00p -2.89%
Johnson Matthey (JMAT) 1,751.50p -2.53%
Endeavour Mining (EDV (LON:EDV)) 2,030.00p -2.50%
Convatec Group (CTEC (LON:CTEC)) 198.90p -2.02%
Centrica (LON:CNA) 115.50p -1.99%
Ocado Group (LON:OCDO) 364.20p -1.91%
Scottish Mortgage Inv Trust (SMT) 685.00p -1.58%
Auto Trader Group (AUTO) 610.00p -1.45%
FTSE 250 - Risers
FirstGroup (FGP (LON:FGP)) 134.50p 13.31%
Helios Towers (HTWS) 92.65p 4.75%
Clarkson (CKN) 3,090.00p 3.87%
Ferrexpo (LON:FXPO) 98.55p 2.71%
Hunting (LON:HTG) 225.00p 2.04%
Balanced Commercial Property Trust Limited (BCPT) 81.90p 1.87%
Discoverie Group (DSCV) 930.00p 1.86%
Marshalls (MSLH) 301.00p 1.83%
Wizz Air Holdings (WIZZ) 2,828.00p 1.80%
Ibstock (IBST) 164.20p 1.67%
FTSE 250 - Fallers
Crest Nicholson Holdings (CRST) 234.00p -6.17%
Ithaca Energy (ITH) 145.10p -3.91%
Dr. Martens (DOCS) 130.00p -3.06%
Energean (ENOG) 1,090.00p -2.94%
C&C Group (CDI) (CCR) 138.60p -2.39%
RHI Magnesita N.V. (DI) (RHIM) 2,562.00p -2.36%
Sirius Real Estate Ltd. (SRE) 88.00p -2.33%
Grainger (GRI) 249.20p -2.12%
Allianz (ETR:ALVG) Technology Trust (ATT) 257.50p -2.09%
ASOS (LON:ASOS) (ASC) 340.80p -2.07%
