The FTSE 100 ended fractionally lower on Thursday at 10,604, pausing after Wednesday’s 2.5% relief rally as investors stayed cautious amid a fragile US–Iran truce and the prospect of drawn‑out negotiations. Iran has accused Israel of violating the US‑brokered ceasefire with its continued strikes on Hezbollah targets in Lebanon, and Tehran has warned it may walk away from talks if the attacks persist. At the same time, shipping traffic through the Strait of Hormuz remains restricted, pushing oil prices higher once again.
Entain and Informa led the decliners, falling 8.4% and 3.8%, respectively. Several stocks also traded ex‑dividend, including Standard Life, Reckitt Benckiser, InterContinental Hotels Group, Centrica, Haleon, Rentokil Initial and Croda International. In contrast, BP gained 3.2% and Shell added 1.4% on the back of rising crude prices. Defensive names also attracted buying interest, with United Utilities up 2.3%, SSE up 1.9% and Severn Trent also 1.9% higher.