The FTSE 100 Index Opens 0.04% Higher

The FTSE 100 Index is gaining 4 points or 0.04 percent on Thursday. Leading the gains are Howden Joinery (8.12%), Rolls-Royce (5.76%) and London Stock Exchange (4.85%). Top losers are Hikma Pharmaceutical (-17.01%), WPP (-5.62%) and Fresnillo (-3.47%).

The FTSE 100 hovered around the flatline on Thursday after surging to a record high and closing above 10,800 points for the first time in the previous session. WPP tumbled more than 4% after reporting lower revenue and profit and cutting its dividend by 62%. Mining shares were also weaker, with Fresnillo down nearly 3%, while Anglo American, Antofagasta, Glencore and Rio Tinto fell between 1.3% and 2%. HSBC slipped about 2% after an 8% rally a day earlier. In contrast, Rolls-Royce jumped roughly 7% after beating annual expectations and launching a new share buyback, while London Stock Exchange Group gained nearly 4% on plans to return £3 billion to shareholders. Meanwhile, results from Nvidia drew a muted market reaction despite strong sales guidance.

The FTSE 100 rose more than 1% to a fresh record high above 10800 on Tuesday, supported by strong gains in banking and mining shares. HSBC Holdings jumped 7.6% to a record after reporting better than expected profit, with its wealth division lifted by solid client income, driving a broad rally in lenders. Commodity linked stocks also advanced as copper and precious metals prices strengthened. Fresnillo gained 7%, Antofagasta rose 6%, while Endeavour Mining and Glencore added around 3%. Relx climbed 6.3% as its LexisNexis unit partnered with AI firm Anthropic, easing prior concerns. In contrast, Diageo tumbled 13% after it warned of weaker annual sales and cut its dividend to protect its balance sheet. Haleon declined 7% after its sales growth fell short of estimates.