Thursday Morning Markets: FTSE Lower, Brent Tops $98 on Red Sea Tanker Attacks; Segro Jumps

London stocks have drifted lower on Thursday morning with the FTSE 100 down 0.1% and the FTSE 250 off 0.2%, while the continent was weaker still, with Germany’s DAX down 0.5%, France’s CAC 40 off 0.8% and the Euro Stoxx 50 declining 0.6%.

Brent crude has surged another 4.2% to around $98 a barrel after Yemen’s Houthis said they had attacked two Saudi oil tankers for breaching their naval blockade…

Saudi state media confirmed a fire aboard one of the tankers. U.S. Central Command said it had completed a 12th successive round of strikes on Iran.

WELCOME BONUS - Free Share Bundle When You Invest £50! Get up to £500 cashback for investing with IG.

Invest in 15,000+ shares and ETFs. Open an account now, invest at least £50, and you’ll get a free share bundle worth between £40 and £200. T&Cs apply.

5.0

Open Account Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

On the economic calendar, traders now await today’s ECB rate decision.

Segro (LON: SGRO) leads the FTSE 100, up 6.77%, after Prologis lodged a “best and final” offer and Segro said it would be minded to recommend it, having secured an extension to the takeover deadline.

It has been a busy day of trading updates and results so far…

Anglo American (LON: AAL) has risen 5.41% on its second-quarter production report, while 3i (LON: III) gained 5.21% after posting a 3% first-quarter total return, driven by 14% sales growth at Dutch discounter Action.

Meanwhile, BP (LON: BP.) has added 2.39% and Shell 1.4% on the oil move, with RELX (LON: REL) up 1.96% after interim results showed earnings up 11% and a 7% dividend increase.

Centrica (LON: CNA) has fallen 3.42% despite a 9% interim dividend hike, with first-half EBITDA of £737 million and management conceding progress was slower than hoped.

Whitbread (LON: WTB) has dropped 3.14% following news of a directorate change, and SSE (LON: SSE) has lost 2.85%.

BT (LON: BT.A) reported first-quarter pre-tax profit down 4% to £505 million but held full-year guidance.

easyJet (LON: EZJ) has risen 5.74% in the FTSE 250 even as third-quarter profit slumped 70% to £85 million on a 17% jump in fuel costs, with takeover interest underpinning the shares.