The blue-chip FTSE 100 index closed 0.2% lower in its fourth session of declines, while the midcap FTSE 250 fell 0.9%
International News via Reuters:
Britain’s FTSE 100 closed a little lower on Thursday, with declines in heavyweight financials offset by some stocks after their corporate updates, while markets assessed fading prospects of renewed U.S.-Iran peace negotiations and higher oil prices.
The blue-chip FTSE 100 index closed 0.2% lower in its fourth session of declines, while the midcap FTSE 250 fell 0.9%.
• Brent crude futures rose beyond $100 a barrel, as Iran tightened its grip on the Strait of Hormuz and said it would not reopen the waterway until the U.S. lifted its naval blockade.
• The travel and leisure sector was buoyed by a 10% gain in Domino’s Pizza after it recorded a first-quarter like-for-like sales growth of 4.5%. Pressured airlines limited gains.
• Heavyweight banks Barclays and HSBC fell 1.5% and 0.4%, respectively, the biggest drags on the index.
• Among miners, Fresnillo declined 6.4%, tracking precious and base metals.
• Industrial miners sector closed 0.9% higher on the back of a 4.1% gain in Anglo American, after a report showed its Australian coal business had at least three suitors.
• The share of British firms reporting higher costs jumped to a record this month, signalling high input costs and rising inflation as fallout from the Iran war weighs on the economy, a survey showed.
• Traders are now pricing in 70% probability of the Bank of England hiking rates in June, up from 40% last week, according to LSEG data.
• The FTSE 100 is down 2% for the week so far and is on track to erase nearly all gains sparked by hopes of the U.S.–Iran ceasefire, which was announced earlier this month.
• Among other stocks, supermarket group Sainsbury fell 3.4% after it warned that the Iran war could cloud its outlook, mirroring concerns raised by peer Tesco.
• WH Smith plunged 9.2% to the bottom of the FTSE 250 after the travel retailer cut its annual profit forecast and suspended its dividend.
Reporting by Utkarsh Tushar Hathi and Purvi Agarwal in Bengaluru; Editing by Diti Pujara and Alex Richardson
