FX.co ★ FTSE 100 Falls for 3rd Session

The FTSE 100 experienced a 0.5% decline on Thursday, marking its third consecutive session of losses. Investor confidence took a hit as shares of 3i plummeted more than 7% following a cautionary note from Citi analysts regarding weaker performance by its primary asset, the discount retailer Action. The index was further burdened by Sage Group, which dropped nearly 4% due to its revenue growth failing to meet projections. Meanwhile, energy heavyweights BP and Shell saw their shares fall by approximately 2.5–3%, coinciding with a more than 3% decrease in oil prices amid rising concerns of a global oil supply glut. Although UK GDP data revealed a surprising 0.7% quarterly growth, it failed to buoy the stock market. The unexpectedly robust GDP report eased some of the pressure on the Bank of England to aggressively cut interest rates, leading investors to slightly adjust their predictions for future monetary policy easing. Consequently, while the data reflects underlying economic strength, it simultaneously diminishes the likelihood of immediate rate-cut support for equities.