FTSE 100 Rises to New Record

The FTSE 100 fell 0.5% on Thursday, snapping a three session winning streak as concerns grew over a potential escalation in the Middle East conflict following President Donald Trump’s address, which offered no clear timeline for resolution and pointed to more aggressive action in the coming weeks, including possible strikes on infrastructure. Mining stocks led losses with Fresnillo and Endeavour down around 6%, while Antofagasta, Anglo American and Rio Tinto also declined sharply. Banks came under pressure, with HSBC, Standard Chartered and Barclays falling about 2% and Lloyds down 1.5% as it reviewed the impact of a motor finance redress scheme. The index was partly supported by its heavy exposure to energy, with Shell and BP gaining on higher oil prices. Elsewhere, B&M rose more than 5% after a rating upgrade, while broader moves reflected ongoing volatility in commodity markets.

The FTSE 100 Index is dropping -47 points. Leading the losses are Fresnillo (-5.95%), Endeavour (-5.30%) and Taylor Wimpey (-4.80%). Top gainers were B&M European Value (5.48%), BP (3.21%) and Shell (2.37%).

The FTSE 100 rose 1.7% to a two-week high on Wednesday, supported by growing optimism over a potential de-escalation in Middle East tensions. It marks the index’s longest winning streak since the war began in late February, with the benchmark up for a third straight session. Sentiment improved after President Donald Trump said he expects the conflict with Iran could end within two to three weeks. However, uncertainty remains around the Strait of Hormuz, where disruptions continue to affect global oil supply despite Brent easing below $100 per barrel. Financial and travel stocks led the advance, while oil majors BP and Shell weighed on the index. In corporate updates, Babcock secured a six month agreement with the UK Ministry of Defence, and Berkeley reaffirmed its outlook while signaling a more cautious approach to land acquisitions.