The FTSE 100 Index Closes 0.23% Lower

The FTSE 100 Index decreased 24 points or 0.23 percent on Thursday to close at 10681 points. The decline was led by Standard Life (-4.54%), Rentokil Initial (-3.84%) and St. Jamess (-3.42%). On the upside, the strongest performers were JD Sports Fashion (4.37%), BP (2.62%) and Shell (1.73%).

The FTSE 100 fell on Thursday, as a sharp rise in oil prices and renewed selling in global bonds heightened concerns over inflation and interest rates. UK 10-year gilt yields were at around 5.35%, close to the 19-year highs reached earlier this month. Brent crude jumped toward $108 a barrel after an adviser to Iran’s Supreme Leader said the conflict with the US could expand to the Indian Ocean in a subsequent phase. Energy stocks were the strongest performers, with Shell rising 1.7% and BP gaining 2.6% as higher oil prices supported the sector. Banks moved lower, with HSBC down 0.8% and Barclays and Lloyds Banking Group each losing around 0.5%. Defence stocks also weakened, with Rolls-Royce falling 1.4% and BAE Systems declining 1.6%. Miners were under pressure, with Rio Tinto down 1.7% and Glencore 0.6% lower.

The FTSE 100 traded slightly higher on Thursday, outperforming other European markets, supported by gains in energy and consumer stocks. Shell and BP rose 0.8% and 1.2%, respectively, while Unilever added 0.8% and BAT gained 1.9%. In contrast, pharmaceutical and defence stocks weakened, with AstraZeneca and GSK both down 0.4%, Rolls-Royce falling more than 1% and BAE Systems declining 0.6%. Oil prices remained volatile as the US again indicated that substantial volumes were moving through the Strait of Hormuz, while investors continued to monitor diplomatic efforts to end the Iran war. Among individual stocks, Halma gained 0.2% after raising its margin guidance and maintaining expectations for 30% revenue growth in its AI-exposed Photonics business. Vistry swung to a first-half loss after booking a £475 million impairment and revised its order-book definition. Raspberry Pi said second-half volumes were rising and that memory inventories remained sufficient to meet annual targets.