The FTSE 100 traded slightly lower on Wednesday, lagging behind continental European markets, which were buoyed by strong corporate earnings from major firms. The UK benchmark underperformed due to its limited exposure to technology and luxury stocks, sectors driving gains elsewhere in Europe. Among notable movers, Entain fell 2% despite reaffirming full-year guidance, as investors took profits following a 6.5% rally the previous day on upbeat results from its US joint venture. The company also flagged weaker September revenue in Brazil and Australia, citing unfavorable sports results. Losses in heavyweight names further dragged the index, with AstraZeneca down 1.3%, Rolls-Royce 1%, Unilever 0.6%, GSK 1.3%, and RELX 0.8%. Offsetting some weakness, Burberry jumped nearly 7% after French luxury giant LVMH posted stronger-than-expected earnings, sparking optimism across the high-end fashion sector and lifting related European peers.
