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FTSE 100 marks time at the open as GDP disappoints; Trustpilot and WH Smith soar - Market Report

FTSE 100 marks time at the open as GDP disappoints; Trustpilot and WH Smith soar - Market Report

London's FTSE 100 chalked up a slight gain on Wednesday despite news UK economic growth remained flat in July.

ONS figures showed UK GDP was unchanged for a second consecutive month and missed expectations for improvement as declines elsewhere offset service sector growth.

Among companies, FTSE 250-listed Trustpilot soared as trading got underway on news of a new £20 million share buyback after better-than-expected first-half profitability.

WH Smith also jumped early on after unveiling its own £50 million buyback following a positive first-half performance and the sale of the company’s pension fund.

Elsewhere, Rightmove said it had rejected a 698p per share takeover offer from Rupert Murdoch's REA Group, adding the bid fundamentally undervalued the business.

And finally, Rentokil slumped after warning sales in North America over the past two months had come in lower than expected.

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