The FTSE 100 slipped more than 0.5% on Thursday, pulling back from Wednesday’s record close, as escalating geopolitical tensions in the Middle East drove oil prices higher and heightened inflation concerns. Defence and energy stocks advanced amid the standoff between the US and Iran, while mining and banking shares dragged on the index.
Centrica lost more than 4% after it announced no new share buyback programme and maintained its existing guidance. Rio Tinto declined 4% following the release of flat full-year profits, leading the mining sector lower; Anglo American and Antofagasta each fell around 3%.
Banks were also under pressure, with Barclays dropping 4%, and Lloyds Banking Group, NatWest and HSBC Holdings all trading lower. By contrast, energy majors Shell and BP gained, as did BAT, Relx and BAE Systems. Packaging group Mondi rose nearly 1.6%, despite flagging lower profit for 2025 and anticipated maintenance-related impacts in 2026.
