London’s premier indices retreated on Thursday as fears over aggressive interest rate outlook by the Federal Reserve and escalating geopolitical risks soured investor appetite.
The FTSE 100 shed 0.5% to close at 7,923.80, while the mid-cap FTSE 250 dipped 0.1% to 19,786.87, though the AIM All-Share bucked the trend, adding 0.5% to 758.83.
Airline shares bore the brunt of selling pressure amid rising global tensions, with IAG diving 3.7% and easyJet losing 3.6%.
The ex-dividend factor also weighed on consumer giants Reckitt Benckiser, Lloyds Banking Group, and Aviva, which fell 2.3%, 4.6%, and 6.4% respectively.
Bucking the downtrend, AstraZeneca climbed 2.1% after announcing plans to increase its dividend by 7% to $3.10 per share in 2024, citing robust finances.
Elsewhere, Kingfisher and Smiths Group advanced 2.4% and 2.7% after HSBC upgraded them to ‘buy’. Cybersecurity firm Darktrace surged over 5% on strong revenue growth and raised guidance.
Great Portland Estates closed 1.6% higher on positive leasing activity and development progress, while Lok’nStore soared 17% after accepting a £378 million takeover bid from Shurgard Self Storage at a premium.
Daily Risers and Fallers
Petrofac 13.8%, XPS Pensions 10.7%, Regional Reit 7.4%, Trifast 6.8%, Darktrace 6.3%.
Aviva -6.4%, Liontrust Asset Management -5.9%, Kenmare Resources -5.8%, Phoenix Group Holdings -5.8%, Chesnara -5.4%.
Daily Recap
- Uniswap Labs faces potential enforcement action from SEC
- AstraZeneca boosts dividend despite flat revenue growth
- Strong leasing performance boosts Great Portland Estates
- Darktrace shares surge on strong revenue growth
- US partner frontrunner to take over Ted Baker UK arm
- Dollar surges as sticky U.S. inflation dampens rate cut hopes
- Gold caught in tug-of-war between raging dollar and safe-haven demand
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