The FTSE 100 Index Opens 0.21% Lower

The FTSE 100 traded slightly lower on Wednesday, ending a six-session winning streak as weaker oil prices weighed on energy stocks. BP fell more than 2%, while Shell declined around 1.4%, with crude prices extending losses for a third day on hopes of renewed shipping through the Strait of Hormuz. Iran and Oman discussed an interim framework aimed at facilitating the resumption of traffic through the key waterway. In contrast, mining stocks provided some support, with Antofagasta, Anglo American and Fresnillo each gaining more than 1%. Entain and Persimmon were also in focus after FTSE Russell indicated that both companies are set to be removed from the FTSE 100 in its latest reshuffle. Meanwhile, Ofgem said the UK energy price cap will rise 4% from October, citing higher wholesale gas prices linked to the Middle East conflict. Investor attention is also turning to Nvidia’s results, with markets looking for further signals on the strength of the AI investment cycle.

The FTSE 100 Index is falling 23 points. Losses were driven by The Sage Group (-3.03%), BP (-2.48%) and Shell (-1.55%). Biggest rises came from Melrose (1.96%), Antofagasta (1.60%) and Halma (1.40%).

The FTSE 100 Index gained 31 points or 0.29 percent on Tuesday to close at 10885 points. Gains were led by Melrose (10.48%), AstraZeneca (2.96%) and International Airlines Group (2.45%). Biggest losers were Diageo (-2.37%), Standard Chartered (-2.32%) and British American Tobacco (-1.51%).