The UK equity market came under selling pressure on Thursday, with shares in IG Group and Wizz Air tumbling after underwhelming results, while Elementis jumped on report of a potential bid for the chemicals maker.

The blue-chip FTSE 100 was down 0.2%, as of 0824 GMT, while the domestically focussed FTSE 250 fell 0.3%.

Both the indexes closed on Wednesday at their highest levels in more than a week, bolstered by China-exposed stocks after officials announced support measures to restore confidence in the economy and markets.

IG Group tumbled 9.3%, by the most since March 2023, after the online trading platform reported a drop in first-half earnings due to softer market conditions.

Shares of St. James’s Place fell 7.5% after net inflows at the FTSE 100-listed wealth manager slowed in 2023 as risk appetite remained subdued.

Wizz Air fell 5.1% after the budget airline reported a bigger third-quarter operating loss, as it grapples with the effects of engine inspections that have grounded parts of its fleet and the suspension of flights due to the Middle East conflict.

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Meanwhile, Elementis jumped 8.2% after Reuters reported KPS Capital Partners recently explored a bid for the UK specialty chemicals maker but has since paused its work, according to sources familiar with the matter.