London’s FTSE 100 fell 0.6% to close at 10,354 on Wednesday, erasing the modest gains from the previous session as investors assessed ongoing geopolitical tensions and a round of weaker‑than‑expected corporate results. Oil prices remained volatile amid uncertainty surrounding the conflict in the Middle East, dampening expectations for additional interest rate cuts by the Bank of England this year.
Legal & General was the index’s biggest decliner, sliding 6.8% after it reported full-year profits below forecasts, a weaker solvency ratio, and unveiled its largest-ever share buyback. Smiths Group, Endeavour Mining, Fresnillo, Intermediate Capital Group (ICG), and Babcock International also ranked among the worst performers.
On the positive side, energy majors BP and Shell gained 2.9% and 2%, respectively, supported by firmer oil prices. Rentokil Initial rose 2.5%, while Hikma Pharmaceuticals advanced 1.5%.
