London's FTSE 100 was on the front foot early on Thursday, gaining seven points to sit at 8,343. Sports Direct owner Frasers plummeted and was the biggest faller on the index after issuing a profit warning on the back of weak consumer sentiment around the Budget.
Shell also moved lower as trading got underway on news it was to merge its UK offshore business with Equinor’s to create the North Sea’s largest independent producer.
Vodafone shares gained in the meantime as the UK’s competition watchdog approved its £15 billion takeover of Three.
Elsewhere, Watches of Switzerland jumped after reporting better first-half revenue and citing improving luxury trends across the UK and US.
And finally, Balfour Beatty also climbed on better interim results, which prompted the construction group to hike full-year guidance.