FTSE 100 Slips as Profit-Taking Follows Middle East Rally; AutoTrader Shares Surge

London’s blue-chip index has retreated so far on Thursday as investors lock in profits from the previous session’s surge, with the FTSE 100 falling 0.4%.

The pullback followed a near-2% rally on Wednesday, when signs of de-escalation in the Middle East and a sharp drop in oil prices lifted stocks across the board. With no fresh catalyst to sustain the advance, sellers are dominating Thursday’s trade.

Auto Trader is the session’s standout gainer, having risen 5.9%, while insurer Hiscox has climbed 5.7%. JD Sports has added 4.6%.

Mining stocks have drawn support from firm gold and copper prices, with Antofagasta up 2.6%, Fresnillo gaining 1.8%, Anglo American advancing 1.4% and Rio Tinto rising 1.2%. Rolls-Royce, IAG and Burberry have also each posted gains of between 1.1% and 2%.

Energy supplier Centrica is the index’s biggest decliner, dropping 5.1% after reporting a trading update and revealing it has completed the acquisition of the Severn CCGT for approximately £370 million.

Elsewhere, data analytics group RELX fell 4.3%, while Admiral Group shed 4.1%.

Broader European markets held up better. Germany’s DAX is broadly flat, while France’s CAC 40 has edged 0.3% higher. The domestically focused FTSE 250 is outperforming London’s blue-chips, advancing 0.4%.