FTSE 100 Underperforms European Peers

(RTTNews) - Amidst the pressure on energy shares from weakening oil prices, the FTSE 100 benchmark of the London Stock Exchange has slipped more than half a percent on Thursday. Anxiety about the outcome of the elections also weighed on sentiment. The decline resulted in the benchmark underperforming other European markets that logged lesser overnight losses.

The FTSE 100 which had closed at 10,438.66 on Wednesday traded between 10,360.72 and 10,463.65 on Thursday.

The index is currently trading at 10,370.57, slipping 0.65 percent from the previous close. The decline has limited the index's gains to 21 percent over the course of the past year.

In the 100-scrip index, 36 scrips are trading in the overnight green zone. JD Sports and Fashion topped gains with a surge of 9.2 percent. Fresnillo followed with gains of 5.8 percent.

RELX plunged around 6 percent. Admiral Group as well as Centrica recorded losses of more than 4 percent.

The six-currency Dollar Index has weakened 0.16 percent to 97.87 from 98.02 at close on Wednesday. The GBP/USD pair has in the meanwhile rallied 0.21 percent to 1.3624. The sterling ranged between $1.3630 and $1.3590 in the day's trade. The EUR/GBP pair has edged up 0.02 percent to 0.8643. The GBP/JPY pair is currently trading 0.15 percent higher at 212.90. The pair ranged between 213.12 and 212.29.

Bond yields in the U.K. aligned with the global trend to move southward. With investors reducing their expectations for Bank of England rate hikes in 2026, ten-year bond yields in the U.K. have dropped 0.79 percent overnight to 4.9030 percent. The yields ranged between 4.9440 percent and 4.9020 percent over the course of the day. Yields had closed at 4.9420 percent a day earlier.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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