London stocks fell as Brent climbed above $100 a barrel on Red Sea supply concerns, lifting energy shares while Centrica, BT, RELX and EasyJet reacted to earnings updates.
The FTSE 100 fell more than 0.5% on Thursday as Brent crude extended gains for a fifth straight session and moved above $100 a barrel, supporting Shell and BP but weighing on the broader market. Oil rallied after Iran-backed Houthi forces claimed attacks on two oil tankers in the Red Sea, reinforcing concerns about supply disruption. Shell rose around 1.7% and BP gained about 3%. Corporate earnings drove several notable moves. RELX finished slightly lower after opening about 2% higher, having reported first-half operating profit in line with expectations and reaffirmed full-year guidance. BT fell more than 1% after maintaining its annual outlook despite a slight decline in quarterly profit. Centrica dropped 10.4% even after reaffirming guidance and posting stronger-than-expected first-half earnings. EasyJet said profit fell by 70% in its fiscal third quarter, with its outlook still dependent on fuel prices and remaining summer demand. On the monetary policy front, the ECB kept interest rates unchanged, in line with expectations.