FTSE 100 falls more than 0.5% as technology gains fail to offset broader weakness

The FTSE 100 fell more than 0.5% on Thursday, extending its decline for a second consecutive session as weakness in banking, healthcare, mining and other commodity-related shares outweighed gains in technology stocks. The index had earlier been reported at 10,820.66 points by 10:00 a.m. GMT, down 0.5%, while the FTSE 250 slipped 0.04%. Nvidia’s stronger-than-expected results and forecast of a 70% jump in revenue next fiscal year boosted global technology shares on expectations of sustained artificial-intelligence demand, but the FTSE 100 has limited exposure to the sector. Prudential fell around 2.5% despite stronger first-half new business profit, while falling metals prices pressured miners. Oil prices remained volatile as investors assessed competing diplomatic developments involving Iran, Qatar and Oman around a possible temporary route through the Strait of Hormuz. Markets also weighed inflation data, Bank of England rate expectations and an upcoming speech by Warsh at Jackson Hole.

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