FX.co ★ FTSE 100 Falls on Thursday

The FTSE 100 experienced a decline of 0.4% on Thursday, primarily due to decreases in AstraZeneca, which fell 2%, and HSBC, which dropped 1.4%. ConvaTec emerged as the index's worst performer, plummeting 5% to its lowest level since January following the commencement of US investigations into imports of robotics, industrial machinery, and medical devices. The mining sector displayed varied performance: Rio Tinto increased by more than 3%, Glencore rose nearly 1%, and Anglo American advanced 0.3%—all bolstered by rising copper prices. In contrast, Antofagasta declined by 1.5% after enjoying a 9% surge in the previous session. Halma saw a rise upwards of 1% after revising its full-year revenue outlook to anticipate “low double-digit” growth. Politically, Manchester Mayor Andy Burnham renewed his advocacy for nationalisation, increased borrowing, and reduced reliance on bond markets, stirring discourse as the Labour Party conference approaches. On the international stage, global risk sentiment took a hit after the US revised Q2 GDP figures upwards, lessening expectations for imminent Federal Reserve rate cuts.