FTSE 100 little changed after six-session winning streak ends
FTSE 100 ended a six-session winning streak with broad declines, including Sage, BP and Shell, while Ofgem raised the UK energy price cap and traders awaited Nvidia’s results for AI demand clues.
The FTSE 100 was little changed on Wednesday, ending a six-session winning streak.
Sage was among the biggest fallers, dropping nearly 4% after a cautious outlook from US software peer Intuit renewed concerns about the potential impact of artificial intelligence on the sector.
Energy stocks also weighed on the index, with BP down 1.3% and Shell 0.4%, while AstraZeneca and GSK both declined.
Oil prices remained volatile as signs of increased crude flows from the Persian Gulf emerged, while investors awaited developments in talks between Iran and Oman over potentially restoring shipping through the Strait of Hormuz.
Entain and Persimmon remained under pressure after FTSE Russell indicated they would be removed from the FTSE 100 in its latest reshuffle.
Meanwhile, Ofgem announced a 4% increase in the UK energy price cap from October.
Investors are also awaiting Nvidia’s results for fresh clues on the strength of AI-related demand.