The FTSE 100 Index Closes 1.44% Lower

The FTSE 100 fell more than 1% on Thursday, as investors monitored developments in US-Iran peace negotiations and weaker oil prices pressured energy shares. Brent crude slipped below $100 per barrel, dragging down oil majors Shell and BP by 3.1% and 2.6%, respectively. Utilities also came under pressure, with Centrica, Severn Trent, United Utilities and SSE falling between 2% and 5.5%. Shell reported quarterly profit above expectations with adjusted net income of $6.92 billion, though it reduced its share buyback program to $3 billion from $3.5 billion. Centrica warned retail profit would likely come in near the lower end of guidance due to warmer weather and ongoing bad debt challenges. BAE Systems dropped over 5% despite reaffirming its sales outlook on strong defence demand. In contrast, travel and leisure stocks, including InterContinental Hotels, EasyJet, and IAG outperformed as lower fuel prices supported sentiment.

The FTSE 100 Index decreased 150 points or 1.44 percent on Thursday to close at 10288 points. The decline was led by Relx (-6.27%), Admiral (-5.41%) and BAE Systems (-5.13%).

The FTSE 100 fell more than 0.5% on Thursday, underperforming other European markets as investors monitored developments in US-Iran peace negotiations and weaker oil prices pressured energy shares. Brent crude slipped below $100 per barrel, dragging down oil majors Shell and BP by more than 2%. Utilities also came under pressure, with Centrica, Severn Trent, United Utilities and SSE falling between 2% and 5%. Shell reported quarterly profit above expectations with adjusted net income of $6.92 billion, though it reduced its share buyback program to $3 billion from $3.5 billion. Centrica warned retail profit would likely come in near the lower end of guidance due to warmer weather and ongoing bad debt challenges. BAE Systems dropped over 3% despite reaffirming its sales outlook on strong defence demand. In contrast, travel and leisure stocks, including InterContinental Hotels, Whitbread, easyJet, Ryanair and IAG outperformed as lower fuel prices supported sentiment.