FX.co ★ FTSE 100 Halts Rally on Thursday

On Thursday, the FTSE 100 index remained stable following a leap to a record high in the previous session. Experian emerged as the major detractor, declining by over 5% after Fair Isaac introduced a new programme that allows mortgage lenders to directly calculate and provide FICO scores to consumers. Analysts from Jefferies cautioned that this development could potentially reduce credit bureaus' earnings from reselling scores, possibly impacting profits by 10–15%. Meanwhile, balancing out some of the losses, 3i Group saw a rise following news that it might sell its French IT company, Evernex, in a deal valued at approximately £1.3 billion. Additionally, Tesco’s shares increased by more than 1.5% after the company raised its full-year profit forecast. It reported a 4.3% growth in first-half sales, which was propelled by robust performance in the UK and Ireland, along with an increase in market share. The UK's largest supermarket chain attributed its success to competitive pricing strategies and a spell of favourable weather.