The FTSE 100 experienced a 0.4% decline on Thursday, interrupting an eight-day period of gains. This downturn reflected a cautious mood prevailing across European markets, coupled with investor evaluations of corporate earnings reports, limited information concerning the agreement between US and Chinese presidents, and cautionary statements from the Federal Reserve Chair regarding potential interest rate cuts.
- The FTSE 100 fell 0.4%.
- WPP’s stock price decreased by more than 10% after a growth forecast cut.
- Mining stocks experienced downward pressure: Anglo American down 1.7%, Glencore losing 1.6%, and Rio Tinto falling 1.3%.
- Shell shares dipped 0.8% despite a new share buyback announcement.
- JD Sports Fashion and Whitbread shares both declined over 1% as they traded ex-dividend.
- Standard Chartered shares rose 2%.
- easyJet shares gained 1.3%.
The decrease indicates a pause in positive momentum for the FTSE 100, influenced by a combination of macroeconomic factors, company-specific performance, and investor sentiment. Declines in major sectors like mining and individual companies due to revised forecasts or dividend adjustments weighed down the index, while gains in specific stocks offered a limited counterweight. This suggests a market undergoing recalibration in response to evolving economic signals and corporate news.