The FTSE 100 closed lower on Thursday, slipping 0.1% to 8,282.52, as higher oil prices and a dovish Bank of England failed to allay investor concerns amid rising tensions in the Middle East. The FTSE 250 and AIM All-Share followed suit, ending down 0.2% at 20,740.06 and 0.1% at 733.84, respectively.
With geopolitical events unfolding, traders remained on high alert, especially as they await US jobs data set to be released tomorrow. Expectations are for hiring to have eased slightly to 140,000 in September, down from 142,000 in August.
Despite the overall market weakness, oil giants Shell and BP saw gains of 1.7% and 0.6%, respectively. Housebuilders saw a boost in optimism regarding potential rate cuts from the Bank of England, with Vistry rising 1.7% and Persimmon up 1.4%.
In retail, Tesco shares climbed 2.5% after the grocer raised its forecast for retail adjusted operating profit to around £2.9 billion for the financial year ending in February, exceeding previous guidance. This follows a 20% rise in pretax profit from continuing operations to £1.39 billion for the 26 weeks ending August 24, supported by a 3.5% revenue increase to £31.46 billion. Tesco also increased its interim dividend by 10% to 4.25p.
Mid-cap stock Telecom Plus rose 2.4%, expressing confidence in its full-year guidance after a strong first half, while luxury brand Burberry fell 3.9% as the market reacted cautiously post-China stimulus.
Marston’s surged 10% after JPMorgan placed the stock on ‘positive catalyst watch,’ indicating potential for further upward movement.
Subscribe to Investomania for more FTSE news and updates.
