The FTSE 100 Index Closes 0.13% Lower

The FTSE 100 Index decreased 14 points or 0.13 percent on Thursday to close at 10875 points. The decline was led by Relx (-4.01%), Tritax Big Box (-3.90%) and Melrose (-2.72%). On the upside, the strongest performers were Diageo (5.61%), Admiral (5.23%) and Vodafone (4.37%).

The FTSE 100 erased early gains to close marginally lower on Thursday, as a wave of heavyweight stocks trading ex-dividend offset broader market optimism over progress toward reopening the Strait of Hormuz. Lloyds, Barclays, Relx and Reckitt Benckiser all declined after losing entitlement to their latest dividend payments, while other defensive heavyweights including AstraZeneca and Unilever also weighed on the index. Relx was among the worst performers, falling more than 4%. Tritax Big Box also lost around 4% after raising £350 million through a share placing to finance its data centre expansion, a move analysts viewed as dilutive in the near term. On the upside, Diageo surged more than 5.5% after unveiling a restructuring plan, forecasting stable sales this year and announcing $1 billion in cost savings over the next three years. Persimmon gained more than 3% after reporting stronger-than-expected earnings and reaffirming the upper end of its annual home completion guidance.

The FTSE 100 Index is picking up 25 points or 0.23 percent on Thursday. Gains are led by Admiral (4.26%), Persimmon (3.21%) and Haleon (2.00%). Biggest losers are Tritax Big Box (-4.46%), Relx (-2.76%) and St. Jamess (-2.20%).