The FTSE 100 is down around 0.7% in early trading on Thursday, with the FTSE 250 having declined around 0.8% as oil continued higher and gold fell.
Germany’s DAX is down 1.1%, the CAC 40 has lost 1.2%, and the Stoxx 50 declined 1.6%.
Oil rises
NBC News reported, citing two US officials and two people familiar with the matter, that the US military is scaling back troops at Middle East bases and the State Department is cutting diplomatic staff, as President Donald Trump weighs new military action in Iran.
Brent is up 3.1% at $112.22 and WTI is up 2.8% at $99.87 in early trading.
Meanwhile, spot gold lost 1.4% to $4,083, while silver is down 3.4% to $55.98. As a result, mining stocks Anglo American, Fresnillo and Antofagasta lost between 3.6% and 4%.
FTSE 100 movers: Rentokil, LSEG, Sainsbury’s
| Company | Price | Change | Why |
|---|---|---|---|
| Rentokil | 342.90p | +8.93% | Q3 update |
| LSEG | 9,148p | +4.07% | Raised guidance |
| Ithaca Energy | 298.30p | +1.71% | Oil price rise |
| Sainsbury’s | 345.55p | -4.03% | Half-year results |
| Anglo American | 3,686.50p | -3.98% | Metal prices fall |
| Fresnillo | 2,528.50p | -3.95% | Metal prices fall |
Rentokil reported Q3 organic growth of 3.4% and approved a $200m buyback. LSEG raised full-year guidance and agreed to buy Octus for $3.535bn in cash.
Sainsbury’s lifted underlying operating profit 3.6% to £525m but booked a statutory loss after a £317m loss on selling Argos. Ithaca Energy rose as oil climbed.
Inchcape and Bloomsbury fall; Barclays reports
Inchcape fell 7.17% after its Q3 trading update put the FY2026 operating margin at about 5.5%, lower than previously guided, amid a challenging situation in Australia.
Bloomsbury dropped 6.10% after interims showed adjusted profit of £16.8m, down from £24.0m.
Barclays, RELX and AJ Bell also reported. Barclays posted third-quarter profit before tax of £2.3bn, up 12%, a new buyback of up to £500m and return on tangible equity (RoTE) of 11.7%.
RELX said underlying revenue grew 7% over nine months and reaffirmed its full-year outlook. AJ Bell said customers rose 24% to 796,000 and assets under administration reached a record £126.0bn.
After the US session closed yesterday, Tesla and Meta Platforms reported earnings.