The FTSE 100 slipped to a one-week low on Wednesday as Brent crude broke above $100 a barrel for the first time since July, with renewed conflict in the Middle East continuing to drive oil prices higher. The US destroyed five Iranian crude-carrying tankers after an attempted ballistic missile strike on a US Navy warship, while Tehran responded by firing missiles toward Jordan and issuing warnings to vessels in the Persian Gulf.
Energy stocks were among the few gainers, with Shell up 1.1% and BP advancing 1.8%. Utilities also outperformed, as SSE, Centrica, United Utilities, Severn Trent and National Grid all rose between 1.1% and 1.6%.
Aberdeen Group climbed more than 2% after naming Torbjörn Magnusson as its new chairman, subject to regulatory approval. Magnusson is the former chairman of Nordea and motor insurer Hastings.
By contrast, financials, consumer staples, industrials and consumer discretionary names were mostly weaker.
