In commodities, Brent and WTI crude oil prices were flat, trading at $87.39 and $83.39 a barrel, respectively.

Lloyds Banking Group's shares fell 2.9% after reporting a 28% drop in quarterly pre-tax profit, reflecting the challenges in the mortgage market and rising costs. The bank's net interest margin slightly decreased, but the CFO expressed expectations for easing margin pressures throughout 2024. Despite the profit fall, Lloyds maintained its 2024 guidance.

In other corporate news, Jet2 reduced its guidance, projecting a profit before tax of between £515 million and £520 million, slightly down from previous estimates but still in line with market expectations. The company also reported a 12.3% increase in seat capacity for Summer 2024 compared to the previous summer.

Investors are anticipating a series of high-profile IPOs, suggesting a rebound in risk tolerance.

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