The FTSE 100 Index Opens 0.34% Lower

The FTSE 100 Index is falling 36 points. Losses were driven by Reckitt Benckiser (-1.88%), JD Sports Fashion (-1.81%) and St. Jamess (-1.63%). Biggest rises came from Admiral (1.68%), BT (0.91%) and Aviva (0.85%).

London’s FTSE 100 extended yesterday’s losses, falling 0.3% to 10,760 points on Wednesday and reaching its lowest level in two weeks. The global bond selloff extended for another day, while oil prices continued to climb amid escalating fighting in the Middle East. UK government bonds were among the hardest hit, with 30-year yields hitting their highest since 1998 and 10-year yields their highest since 2007. Higher borrowing costs, combined with persistent inflationary pressures, are expected to significantly reduce the Chancellor’s fiscal headroom and make it more challenging to remain within the government’s self-imposed borrowing rules. Oil majors Shell and BP gained around 0.3%, while BP named Ian Tyler as its new chair following the surprise departure of Albert Manifold earlier this year. Meanwhile, Ryanair cut its full-year 2027 traffic outlook and warned that European short-haul fares could rise “materially” if high oil prices persist.

The FTSE 100 Index dropped 32 points or 0.30 percent on Tuesday to close at 10792 points. Losses were led by Endeavour (-5.80%), Fresnillo (-5.33%) and Antofagasta (-5.22%). Offsetting the fall, top gainers were BP (5.66%), Reckitt Benckiser (4.68%) and Rentokil Initial (3.17%).