RollsRoyce jumps as 2023 profit more than doubles
Beazley gains on 300 mln shareholder return
FTSE 100 flat, FTSE 250 adds 0.2

Feb 22 Reuters The UK39;s FTSE 100 was relatively unchanged following an initial rise on Thursday, as a slide in shares of AstraZeneca offset the gains from RollsRoyce and Beazley on upbeat corporate updates.

The bluechip FTSE 100 held its ground at 7,661.22 points, as of 0934 GMT.

Investors digested a series of corporate updates, with Beazley climbing 9.2 to lead the bluechip index after the insurer allocated around 300 million for shareholder returns.

RollsRoyce advanced 6.4 as the engineering company reported a more than twofold jump in profit in 2023 and forecast further growth this year. Meanwhile, Anglo American added 3.5 as the miner said it would review its assets, after posting a 94 slump in annual profit.

The gains on the FTSE 100 were, however, limited as shares of heavyweight AstraZeneca fell 1.6, with the drugmaker39;s stock trading exdividend.

Global upbeat sentiment following chip designer Nvidia39;s stellar results failed to enthuse UK stocks, underperforming the panEuropean benchmark STOXX 600 index, which notched a record high.

It is a mixed bag with regards to the FTSE 100 and is still greatly underperforming its peers…it doesn39;t have any technology stocks, said Axel Rudolph, senior market analyst at IG Group.

Germany, for example, has SAP. In the UK, we39;ve got none and that39;s why we have this…