FX.co ★ FTSE 100 Trades at 7-Week Low

The FTSE 100 traded little changed on Thursday, holding near seven-week lows, while oil prices were broadly steady, with Brent crude remaining above $100 a barrel as Iran warned it was prepared for a further escalation in the conflict. Associated British Foods was the standout laggard, sliding more than 9% after the Primark owner reported weaker-than-expected sales and unveiled plans to fully demerge the discount fashion chain from the group by December 2027. The decision underscores the increasingly divergent nature of AB Foods’ operations. Elsewhere, Unilever slipped 0.5%, Rio Tinto fell 1% and Glencore lost 0.5%, while Rolls-Royce and GSK also traded lower. Energy stocks offered some support, with BP advancing 0.5% and Shell edging higher. Investors were meanwhile focused on the European Central Bank, which was widely expected to deliver another 25-basis-point interest-rate increase later in the day.