(Reuters) – A slew of mixed corporate earnings left London’s FTSE 100 little changed on Thursday, while mid-cap aerospace firm Cobham surged to a more than three-year high after a buyout offer.
The main stock market index <.FTSE> swung between gains and losses in early deals, and was roughly flat by 0710 GMT, while the mid-cap FTSE 250 <.FTMC> outperformed with a 0.5% rise.
AstraZeneca <AZN.L> added 4% to top the blue-chip index after it raised its annual product sales forecast, but the gains were offset by steep, post-earnings losses in spirits company Diageo <DGE.L>, analytics provider Relx <REL.L> and software provider Sage Group <SGE.L>.
Cobham soared more than 34% to 165 pence, matching the 165 pence per share offer price from U.S. private equity group Advent International.
(Reporting by Shashwat Awasthi and Muvija M in Bengaluru; Editing by Shounak Dasgupta)