The FTSE 100 fell 0.7% on Thursday, snapping an eight-session winning streak as broad-based losses in banks, healthcare and utilities outweighed gains in energy and defence stocks. Sentiment shifted during the session: oil prices initially rose following renewed US airstrikes on Iran, before easing after an Axios report indicated the US and Iran were close to extending their ceasefire, pending approval from President Donald Trump.
Among banks, HSBC declined about 1.7%, while Lloyds and Barclays lost between 0.7% and 0.8%. In healthcare, AstraZeneca dropped 1.8% and GSK fell 1.2%. Consumer staples were also weaker, with Unilever and BAT each down roughly 1.4%.
Utilities were among the worst performers. National Grid and Severn Trent both slipped more than 3%, and Centrica and SSE also traded lower after SSE warned it is unlikely to meet its 2030 renewable energy target.
By contrast, energy and defence names provided some support to the index. Shell and BP posted modest gains, while defence stocks rallied: Rolls-Royce rose around 1.5%, BAE Systems advanced more than 3%, and Babcock gained about 5%.
