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The FTSE 100 was down modestly by midday, losing 0.15% to 7,154.38 as earlier gains in the oil sector lost momentum despite the surge in crude prices driven by OPEC infighting and as broker downgrades hit property stocks British Land and Land Securities.
Supermarket Sainsbury's climbed 0.4% to 279.2p as it upgraded its annual profit guidance after its first-quarter sales, excluding fuel, rose by a better-than-expected 1.6%.
Sainsbury's said said its underlying pre-tax profit for the year through December was now anticipated at at least £660 million, with progress weighted to the second half.
Online grocery group Ocado gained 0.9% to £20.0328, having reported a narrower first-half loss of £23.6 million, as expenses developing its technology businesses continued to offset rising retail sales.
Ocado stuck to its full-year outlook, despite flagging further investment spending, and announced a new partnership deal for its technology business with Spanish grocer Alcampo.
Drugmaker AstraZeneca edged up 0.1% to £86.886 following news it had received clearance from European regulators for its planned $39 million acquisition of Alexion Pharmaceuticals.
The deal already had received the blessing of regulators in the US and Japan, but the companies are still awaiting approval in the UK.
Investment trust Chrysalis Investments firmed 0.4% to 246p on announcing that it had poured $67 million into US-based cybersecurity company Deep Instinct.
Luxury handbag maker Mulberry reversed 3.0% to 291p on news that it agreed to terminate the lease of its store in Paris, generating net proceeds of around £10.8 million.
Mulberry said it planned to open a new store in Paris once international tourism returned.
Estate agency Purplebricks slipped 2.5% to 83.11p, even as it swung to a full-year profit after its revenue rose and it booked a gain on the sale of its Canadian business.
Purplebricks said it it expected its full-year earnings before interest, tax, depreciation and amortisation to be flat year-on-year, in line with market expectations.
Healthcare services provider Totally fell 0.3% to 42.39p, having swung only to a small annual profit after the pandemic boosted demand for urgent care.
Software and services group Gresham Technologies added 0.7% to 159.21p as it reported a 19% rise in first-half revenue thanks to new business wins.
Concierge platform Ten Lifestyle shed 1.5% to 102p, despite winning a 'large' contract with a credit-card issuer in the Asia Pacific region that it didn't name.
Ten categorises 'large' contracts as those worth between £2 million and £5 million.