The FTSE 100 Index Opens 0.43% Lower

The FTSE 100 declined 0.4% to 10,340 points in the first trading session of May, dragged down by banking stocks after NatWest’s earnings report and escalating concerns over the Middle East. NatWest posted a Q1 pretax operating profit of £2.03 billion, surpassing expectations and reinforcing its income outlook, but warned of economic headwinds from the Iran conflict. Pearson gained over 1% as the education publisher reported a 4% rise in Q1 sales, driven by strong performance in its Virtual Learning division, and reaffirmed its 2026 guidance. Diageo shares jumped 1.6% following US President Donald Trump’s announcement that he would lift some tariffs on Scotch whisky after a visit from King Charles III. Elsewhere, oil prices continued to climb, as Trump maintained a naval blockade of Iranian ports. On the macroeconomic front, UK house price growth slowed to 0.4% in April from 0.9% in March, defying forecasts of a 0.3% decline.

The FTSE 100 Index is falling 45 points. Losses were driven by Endeavour (-3.65%), United Utilities (-3.36%) and Natwest (-3.01%). Biggest rises came from Pearson (4.81%), Unilever (2.19%) and Diageo (1.67%).

The FTSE 100 Index gained 162 points or 1.58 percent on Thursday to close at 10375 points. Gains were led by United Utilities (12.50%), Rolls-Royce (7.43%) and Severn Trent (7.25%).