The FTSE 100 Index Closes 0.17% Lower

The FTSE 100 Index fell 18 points or 0.17 percent on Wednesday to close at 10480 points. Leading the losses are Melrose (-6.24%), Reckitt Benckiser (-4.76%) and International Airlines Group (-3.80%). Top gainers were Glencore (2.64%), Bunzl (2.42%) and Rio Tinto (2.17%).

The FTSE 100 fell 0.2% on Wednesday, extending losses for the third session as investors remained cautious amid uncertainty over US Iran talks, rising inflation and mixed corporate updates. Reckitt Benckiser dropped more than 4% after earnings missed expectations, weighing on the index, while JD Sports fell around 2.8% after news that chairman Andy Higginson will step down following the July AGM. Rolls Royce declined over 3.5% and BAE Systems fell around 1.5%. Banks HSBC Holdings, Barclays and Natwest declined between 0.4%-0.9%. In contrast, BP and Shell rose 1.7% and 0.5%. Mining stocks also rose, with Rio Tinto, Antofagasta and Anglo American gaining around 2%. Fresnillo rose 1.7% after maintaining production guidance. On the data front, UK inflation accelerated to 3.3% in March from 3%, driven by higher energy costs linked to the Iran conflict.

The FTSE 100 Index is falling 8 points. Losses were driven by Reckitt Benckiser (-6.50%), JD Sports Fashion (-4.01%) and Auto Trader (-2.93%). Biggest rises came from Fresnillo (1.84%), Rio Tinto (1.45%) and Antofagasta (1.27%).