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The FTSE is set for a hattrick of marginal losses as the index limps towards the close. Shares of JD Sports Fashion declined, dropping by as much as 5.2% to 161.35p, making it one of the top percentage losers on the FTSE blue-chip index. The sportswear retailer reported an annual profit before tax (PBT) of 440.9 million pounds ($556.46 million), a decrease from 654.7 million pounds in the previous year. This decline was attributed to an adjusted item charge of 550.5 million pounds related to acquisitions and disposals. However, the company remains optimistic about the future, expecting the headline profit before tax and adjusted items for the fiscal year 2024 to surpass 1 billion pounds ($1.3 billion) for the first time. The growing demand for trainers, joggers, and hoodies from its younger customers is expected to contribute to this positive outlook. Credit Suisse analysts expressed the view that the company's current-year guidance, while maintained, appears conservative. They believe there is potential for stronger performance than indicated in the guidance. Shares of British Land Co Plc, property heavyweight, was vying for the bottom spot, as shares declined by 4%+ following a report of decreased property valuations. The company swung to a full-year loss before tax of 1.04 billion pounds ($1.31 billion). Looking ahead, British Land anticipates rental growth of 2%-4% in both the Campuses and retail parks segments over the next 12 months.

On the positive side of the ledger Melrose Industries Plc foresees its engines business as a key driver of profit margins in 2025, fueled by aftermarket services that will enhance cash flow. This will enable the company to engage in share buybacks amounting to 5% to 10% of its market value annually, starting next year. The company has revised its outlook for aerospace, projecting an adjusted operating margin of 17% to 18% by 2025, compared to the previous estimate of 14%. Similarly, the operating margin for the engines business is expected to reach 28% in 2025, a rise from 22% in 2023. Following this news, shares in Melrose experienced a 5%+ increase positioning the company at the top of London's blue-chip index.

FTSE Bias: Intraday Bullish Above Bearish below 7700

• Below 7700 opens 7660
• Primary support is 7635
• Primary objective 8030
• 20 Day VWAP bearish, 5 Day VWAP bullish

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