FTSE 100 steadies near two-week low around 10,750
London’s FTSE 100 held near 10,750, after two sessions of losses. Bond selloff pressures eased, oil and metals swung with easing Iran escalation fears. Sector moves included BP and Shell lower, while miners rose 0.5%-1%.
London’s FTSE 100 steadied around 10,750 points on Thursday, its lowest level in two weeks, after two sessions of losses as the global bond selloff eased.
Oil prices edged lower after President Donald Trump said renewed US attacks on Iran were likely to be short-lived, helping ease concerns over inflation and further energy-price pressures.
Metals prices rebounded as fears of a wider Middle East escalation eased, potentially reducing pressure on central banks to raise interest rates and supporting demand for non-interest-bearing precious metals.
BP and Shell fell around 0.7%, while miners Fresnillo, Endeavour, Glencore, Anglo American, Rio Tinto and Antofagasta gained 0.5%-1%.
M&G dropped 2.2%, Compass 1.4% and NEXT 1%, while Airtel Africa, Vodafone and London Stock Exchange rose 3.2%, 2.4% and 1.1%, respectively.