FX.co ★ FTSE 100 Little Changed on Thursday

On Thursday, the FTSE 100 hovered near unchanged levels as a definite risk-averse sentiment dampened interest in cyclical stocks, preventing the index from showing much progress. Investors were offloading shares most sensitive to economic fluctuations, which resulted in HSBC (-0.1%), Unilever (-1%), Rolls-Royce (-0.6%), British American Tobacco (-0.3%), BAE Systems (-0.2%), Lloyds (-0.8%), and NatWest (-0.9%) putting downward pressure on the index. Mining stocks showed little movement, with Anglo American (0.1%), Rio Tinto (0.2%), Glencore (0.5%), and copper producer Antofagasta (0.2%) showing limited activity. This performance mirrored broader declines in global equities. Although the Fed's rate cut initially boosted optimism, enthusiasm waned following Oracle's earnings report, which rekindled worries regarding the durability of the AI trade.