The FTSE 100 fell more than 0.5% on Thursday in a broad-based equity selloff, with downbeat corporate updates from Barclays and J Sainsbury intensifying the pressure. Barclays shares slid over 2% after third-quarter investment banking revenue came in below expectations at £3.13 billion, despite solid performance in equities, prompting the bank to announce a £500 million share buyback. Analysts highlighted ongoing weakness in fixed-income revenue as a key concern.
J Sainsbury dropped more than 3%, even though it reported first-half adjusted profit of £260 million, ahead of forecasts, as investors weighed its revised outlook following the agreed sale of Argos to Swift Partners. Mining stocks also retreated as gold, silver and copper prices fell sharply, with Fresnillo down nearly 4%, Anglo American losing more than 3.5%, and both Endeavour and Antofagasta declining close to 3%.
By contrast, oil prices advanced as renewed hostilities in the Middle East and deadly attacks in Saudi Arabia stoked worries about potential disruptions to regional energy supplies.
