The FTSE 100 slipped at Thursday’s close after touching another record intraday high, as investors digested a flood of corporate earnings and interest rate decisions from the Bank of England and US Federal Reserve.
The blue-chip index fell 11.14 points, or 0.1%, to finish at 10,897.27, having earlier reached a fresh all-time intraday high of 10,979.60. The FTSE 250 gained 0.3% to 24,079.14, while the AIM All-Share added 0.4%.
The Bank of England left interest rates unchanged at 3.75% in a 6-3 vote. Although three policymakers backed a rate increase, Governor Andrew Bailey stressed the decision should not be interpreted as a signal that a rate hike is imminent.
Market attention was also focused on Wall Street, where major indices rebounded following Wednesday’s sell-off. The Nasdaq climbed around 2%, supported by a 14% surge in Microsoft after stronger-than-expected earnings, while Meta Platforms fell almost 9% after disappointing investors with higher spending plans.
Among UK companies, Rolls-Royce led the FTSE 100 higher, rising 6% after reporting stronger-than-expected first-half results and raising full-year guidance once again.
Lloyds Banking Group gained 3.9% after unveiling its Accelerate 2030 strategy alongside better-than-expected interim results and new long-term financial targets.
The day’s biggest loser was Rentokil Initial, which plunged 21% after warning that additional investment in its North American business would delay margin improvement.
Meanwhile, Brent crude eased slightly to US$89.84 a barrel, while gold climbed to US$4,099 an ounce as investors continued to monitor geopolitical tensions and the outlook for global interest rates.
Attention now turns to Friday’s trading, with results due from NatWest, International Consolidated Airlines (IAG) and Rightmove, alongside eurozone inflation data and Japan’s latest interest rate decision.
