FTSE 100 Falls on Thursday
The FTSE 100 fell 0.5% on Thursday, weighed down by losses across defence and banking stocks. BAE Systems dropped more than 5%, while Babcock lost 2.4% and Rolls-Royce declined nearly 3%. Banks also came under pressure, with NatWest falling 4%, Barclays and Standard Chartered shedding over 2%, HSBC losing more than 1% and Lloyds slipping 0.7%. Oil majors Shell and BP were relatively subdued, down around 0.4% and 0.6%, respectively. Mining stocks were mixed as copper prices tumbled amid concerns over weaker AI-related demand. Anglo American and Antofagasta fell nearly 3% and 3.5%, while Rio Tinto gained almost 1%. Precious metal miners outperformed, with Endeavour rising nearly 6% and Fresnillo advancing 2%. Investors also assessed the Bank of England’s widely expected interest rate increase, its first in more than three years. Governor Andrew Bailey warned that further hikes may be necessary unless the Iran war is resolved.
The FTSE 100 fell 0.5% on Thursday, weighed down by losses across defence and banking stocks. BAE Systems dropped more than 5%, while Babcock lost 2.4% and Rolls-Royce declined nearly 3%. Banks also came under pressure, with NatWest falling 4%, Barclays and Standard Chartered shedding over 2%, HSBC losing more than 1% and Lloyds slipping 0.7%. Oil majors Shell and BP were relatively subdued, down around 0.4% and 0.6%, respectively.
Mining stocks were mixed as copper prices tumbled amid concerns over weaker AI-related demand. Anglo American and Antofagasta fell nearly 3% and 3.5%, while Rio Tinto gained almost 1%. Precious metal miners outperformed, with Endeavour rising nearly 6% and Fresnillo advancing 2%. Investors also assessed the Bank of England’s widely expected interest rate increase, its first in more than three years.
Governor Andrew Bailey warned that further hikes may be necessary unless the Iran war is resolved.