The FTSE 100 Index Opens 0.20% Lower

The FTSE 100 traded slightly lower on Thursday, slipping about 0.1% to 10,600 points, as investors focused on the uncertain future of the US-Iran ceasefire and the prospects for lasting peace negotiations. Iran dismissed the possibility of continuing talks with the US after Israeli strikes in Lebanon, while the Strait of Hormuz remained closed to unpermitted vessels, pushing crude prices up over 3% and fueling inflation concerns. Markets now anticipate at least one interest rate hike by the Bank of England this year. Despite the broader downturn, the FTSE 100 outperformed its European counterparts, buoyed by its exposure to rising oil prices through gains in BP (+1.9%) and Shell (+0.5%). Utility stocks also provided support, as their stable revenue streams and lower sensitivity to macroeconomic volatility make them attractive in uncertain times. Top performers included United Utilities, Centrica (parent of British Gas), SSE, National Grid, Severn Trent, and Vodafone.

The FTSE 100 Index is losing -18 points. Losses were led by Standard Life (-3.04%), Easyjet Plc (-2.85%) and WPP (-2.77%). Offsetting the fall, top gainers were DCC (2.51%), BP (1.85%) and Glencore (1.67%).

The FTSE 100 Index rose 252 points or 2.44 percent on Wednesday to close at 10601 points. Leading the gains are Vistry Group (11.40%), Rolls-Royce (10.96%) and Standard Chartered (10.03%).