Thursday Morning Markets: FTSE Subdued as ABF Tumbles, Whitbread Rises

London’s blue-chips are trading slightly lower on Thursday, with the FTSE 100 and FTSE 250 both down 0.1% in early trading, tracking a mixed tone in Europe where the DAX (+0.1%), CAC 40 (+0.2%) and Stoxx 50 (+0.1%) edged higher.

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Geopolitics is, as usual, the key focus after President Trump said he expects the Iran conflict to drag on past November’s US midterm elections, while threatening a strike on Iran’s fortified “Pickaxe Mountain” site and warning Tehran “not to get cute.”

In commodities, spot gold is up 0.1% at $4,434 and silver flat at $67.30. Oil has ticked higher after yesterday’s move above $100, with Brent up 0.3% at $101.53 and WTI up 0.5% at $96.47.

One of the session’s biggest movers is Associated British Foods, down 9.2% after a trading statement flagged a mixed performance despite resilience at Primark, which also unveiled UK home delivery plans.

Computacenter (-2.9%) and Pearson (-2.2%) also fell. On the upside, Whitbread (+2.0%), Compass Group (+1.8%) and Aberdeen Group (+1.5%) lead the FTSE 100 risers.

In the FTSE 250, IP Group has jumped 4.9%, while Dunelm rose 3.8% after director share purchases signalled confidence, and Hansa Investment Company added 3.7%.

Genus is the standout faller, down 5% even as it unveiled preliminary results alongside a new share buyback programme.

Baltic Classifieds Group slid 3.6%, and Energean fell 3%, pulling back after Wednesday’s strong move after its half-year results.

Elsewhere, Currys reported a strong trading update with UK&I and Nordics like-for-like sales up sharply, though shares gave back early gains.

THG posted H1 revenue up 7.2% with adjusted EBITDA more than doubling, alongside bid interest in some brands.

GSK secured Japanese approval for a prefilled-syringe Shingrix, Smith & Nephew priced a new USD bond, Metlen signed a Chile project deal with Copec, and Fevertree and Playtech also released half-year results.