(Close): Shares in London finished higher despite a disappointing speech by European Central Bank (ECB) president Mario Draghi.
(Open): Shares in Rolls-Royce dived more than 17% after the aerospace company warned that "sharply weaker demand" would hit its profits.
Investors hoped Mr Draghi's speech to the Bank of England's Open Forum might contain clues to future ECB policy.
The company said this year's profits would be at the low end of forecasts, and next year's would be hit by "headwinds" of about £650m.
The benchmark FTSE 100 index ended up 21.92 points at 6297.20.
Rolls also said it would put shareholder payments under review, suggesting it could cut its dividend.
Shares in credit data firm Experian were 2.27% higher as investors continued to react to its better-than-expected results released on Tuesday.
The FTSE 100 index was down 2.33 points at 6,294.87.
Speaking in London Mr Draghi addressed the need for closer economic union among those countries sharing the euro.
Shares in Burberry rose 1.4% after the fashion house said third-quarter sales had picked up, with cost-cutting helping to lift underlying profits by 3%.
But analysts had expected more detail on the prospect of an extension to the ECB's massive €60bn (£42bn) monthly bond buying programme to combat low inflation.
In the FTSE 250, Halfords shares dropped 8.7% after the cycling and car parts chain reported a 6.3% drop in half-year profits to £46.4m.
SABMiller climbed 1.86%, after the brewing giant agreed the terms of its takeover by rival AB InBev.
The retailer blamed "disappointing" bike sales during the summer for the fall. It also said next year's profits were likely to be "broadly unchanged" from this year.
As part of the deal, SABMiller is to sell its 58% stake in its US joint venture MillerCoors to its main partner in the business, Molson Coors, for $12bn (£7.9bn).
On the currency markets, the pound fell 0.2% against the dollar to $1.5177, but rose 0.15% against the euro to €1.4185.
Sainsbury's shares made a bright start to the day after its latest results, but then changed direction and ended the day down 7%.
The retailer said underlying half-year profits fell 17.9% to £308m as the price war between the major supermarkets continued to have an impact.
In the FTSE 250, shares in TalkTalk jumped 13% after it said its full-year results were on track to meet expectations, despite saying last month's cyber-attack would cost it up to £35m.
On the currency markets, the pound rose 0.3% against the dollar to $1.520, and was also 0.5% higher against the euro at €1.4141.
Sterling had weakened initially following the release of the latest jobs and wages statistics, which showed the rate of earnings growth slowing slightly.
Pay growth is an area that has been closely watched by the Bank of England, and analysts said the latest figures supported the view that interest rates are likely to remain on hold for some time.
