Shares in BG Group (BG.) pushed higher while
Johnson Matthey's (JMAT) market value took a 6% dive on Wednesday, but when you take those two companies out of the equation, the FTSE 100 benchmark index was relatively quiet on Wednesday
The FTSE 100 index edged up by 4 points, or 0.1%, to close at 5,752. The FTSE 250 index declined by 38 points, or 0.3%, to close at 11,783.
"With continued uncertainty over Greece, Ben Bernanke’s comments about the fiscal cliff and Thanksgiving tomorrow, it is no wonder markets have barely changed from yesterday's close, said David Madden, a market analyst, IG.
"As it's the last US trading day before Thanksgiving and our friends in the US have an appetite for turkey and yams over stocks and futures, trading volumes are expected to be light until next week," said Madden.
Greece: Wait-and-See Mode
Investors are also still in wait-and-see mode with Greece after eurozone finance ministers failed to come up with a solution to release the next tranche of bailout funds for Greece, and instead agreed to resume talks on Monday.
"After 12 hours of discussions, eurozone ministers, the IMF and ECB failed to reach a deal to reduce Greece’s debt and release the next tranche of payment from its bailout package," said Fiona Cincotta, a market analyst at City Index "It had been widely expected that a consensus would be reached but instead the decision has been postponed ... Until we receive more clarity on the situation in Greece and especially with the Thanksgiving weekend starting tomorrow, trading is expected to be quiet."
Johnson Matthey & BG Group
In equities, Johnson Matthey shares put a weight on the FTSE 100 index after reporting first-half results and a full-year outlook that disappointed investors.
Meanwhile, BG Group was the top gainer amongst FTSE 100 companies as rumours swirled that it could be a potential takeover target. BG's shares have fallen by more than 20% in less than a month after the oil and gas group announced that it expected lower production growth for this year and next year.