Thursday Morning Markets: FTSE Steady as Housebuilders Slide and Hilton Foods Surges

London’s blue-chips are little changed on Thursday, with the FTSE 100 flat and the FTSE 250 down 0.1%, as investors weighed a fresh batch of corporate updates against continued Middle East tensions.

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Sentiment has been shaky amid renewed US-Iran strikes. US President Trump reportedly said the latest clashes “will not last too long” after Tehran accused Washington of striking a wedding.

On the continent, the DAX is flat, the CAC 40 has fallen 0.3% and the Stoxx 50 has slipped 0.1%.

Spot gold is up 0.9% to $4,428/oz and silver has gained 0.9% to $65.90.

Oil has so far eased this morning, with Brent down 0.6% at $95.08 and WTI off 0.5% at $90.53.

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Housebuilders are under pressure. Barratt Redrow fell 2.3% and Vistry Group dropped 4.2% in sympathy with Crest Nicholson, which slid over 11% after cutting full-year guidance. The firm flagged a subdued summer, weaker bulk sales pricing and an expected EBIT loss of around £10m, though debt reduction is ahead of plan.

Burberry (-2.2%) and Admiral (-2.6%) also feature among FTSE 100 laggards.

On the rise, Airtel Africa (+3.0%), Vodafone (+2.1%) and Metlen Energy & Metals (+1.5%) led the FTSE 100.

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The standout mover is Hilton Food Group, up over 10% in the FTSE 250 after upgrading full-year adjusted profit guidance to £66m-£71m, helped by the Dalco disposal and favourable FX, despite Foppen weakness.

Raspberry Pi Holdings (+4.1%) and Avon Technologies (+5.2%) also gained.

On the downside, Ithaca Energy fell nearly 5% despite confirming promotion to the FTSE 100 from 21 September.

Watches of Switzerland dropped 4% even as it reiterated FY27 guidance and reported “encouraging” US and UK trading momentum.

Elsewhere, M&G slipped after its Q1 trading update where it declared a 6.8p interim dividend; Jet2 has risen 2.7% on strong booking trends and plans to move to the Main Market, and Diversified Energy announced a Permian Basin acquisition of Birch expected to lift production by roughly 35%.