FX.co ★ UK Stocks End on Negative Note

The FTSE 100 index closed approximately 0.4% lower at 9,509 on Thursday, retreating from the intraday high of 9,565.5. This decline was primarily influenced by a mix of ex-dividend stocks and notable declines in companies such as HSBC and Lloyds. Companies including WPP, Barratt Redrow, Tesco, Kingfisher, Taylor Wimpey, and Primary Health Properties experienced losses as they traded without dividend entitlement. HSBC dropped by 5.4%, exerting pressure on the banking sector, following its announcement to potentially privatize its Hong Kong-listed subsidiary, Hang Seng Bank, and to halt share buybacks for three quarters to preserve capital. Meanwhile, Lloyds decreased by 3.3% after indicating it may need to allocate more funds for the motor finance compensation scheme. Conversely, International Airlines Group (IAG), the parent company of British Airways and Iberia, surged to lead the index, climbing by 3.2% in response to robust quarterly results and an optimistic forecast from Delta Airlines. Base metal mining companies also showed strong performance, with Anglo American achieving gains of over 2%, spurred by rising copper prices.