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The FTSE 100 was off its lows but still down 0.2% to 7,276.54 as Shell fell on reports of an exit tax as it prepares to leave the Netherlands and inflation worries pushed up the pound.
Delivery company Royal Mail said it would return £400 million to shareholders after reporting a jump in profit in the first half of the year. Its shares price rose by 5.6% to 462.5p.
For the 26 weeks ended 26 September, pre-tax profit jumped to £315 million from £17 million year-on-year as revenue increased 7.1% to £6.07 billion.
Gaming software provider Playtech confirmed media reports that it had received a preliminary approach from JKO Play relating to a possible rival offer for the company amid interest from Gopher and Aristocrat. Its shares rose 2.75% to 761.39p
Media reports suggest JKO Play is mulling £3 billion-plus counterbid for Playtech, intensifying the bidding war for the company amid interest from Gopher and Aristrocrat.
Waste management company Biffa resumed its dividend after narrowing its first-half losses profit as revenue was boosted by 'strong' performance in its collections and recycling business. Biffa's share price fell 4.2% to 378.57p.
Information-services provider Euromoney Institutional Investor rose 2% to £10.50 after reporting a rise in annual profit as cost cuts bolstered performance.
Flow control and instrumentation group Rotork said order intake in the four months through October was up a high single digit percentage year-on-year, but flagged the impact of supply chain disruption that is expected to continue. It fell 6.7% to 346.8p.
Software group Micro Focus International reported a slower decline in revenue amid transition to a single enterprise-wide platform. It slipped 3.1% to 399.9p.
Halma reported a jump in first-half profit, led by higher revenue and a £34.0 million gain on the sale of Texecom. The shares slipped 1.1% to £30.92 as despite reiterating full-year guidance the company pointed to the impact of supply chain, labour market and logistics disruption.
Crest Nicholson upgraded its outlook on annual profit after reporting 'strong' sales performance in the second second half of the year. It gained 4.4% to 348.6p.
For the 12-month period ending 31 October 2021, adjusted pre-tax profit was expected to be 'marginally ahead of consensus of £101.2m with the Longcross Film Studio contribution being more than anticipated,' the company said.