The FTSE 100 traded flat to slightly higher on Thursday ahead of the Bank of England’s interest rate decision, outperforming weaker European markets as gains in energy stocks helped offset broader declines. Shares in Shell and BP advanced, supported by Brent crude climbing to a wartime high of $126 after reports that the US may consider further military action in Iran, intensifying inflation concerns in the run-up to key central bank meetings.
The Federal Reserve left interest rates unchanged, though divisions among policymakers are widening amid uncertainty stemming from the conflict in the Middle East. The Bank of England is expected to hold rates at 3.75%, but markets are now pricing in multiple increases later this year.
Among individual movers, Standard Chartered rose 0.5% after posting record profits, while Unilever gained 0.3% as robust underlying sales—driven by emerging markets—offset currency headwinds. Rolls-Royce climbed 2.8% following a solid trading update and unchanged guidance, and Glencore added 0.9% on the back of an upbeat outlook for its trading division.
