The FTSE 100 opened 18 points higher at 10,907 as investors tracked developments around the Strait of Hormuz. Brent crude futures rose 0.21% to $79.52 per barrel. US West Texas Intermediate (WTI) fell 0.24% to $75.04 per barrel.
Sterling was quoted at $1.3461 early Thursday, slightly lower than $1.3466 at the London equities close on Wednesday. Against the euro, sterling fell to €1.1654 from €1.1663 a day prior.
On the upside, Admiral Group surged 5.07% to 3,894p. Metlen Energy & Metals advanced 3.88% to €50.30, while Persimmon climbed 2.45% to 1,150.5p. Vodafone Group gained 2.01% to 116.7p, Haleon rose 1.89% to 372.6p, and London Stock Exchange Group added 1.41% to 8,750p.
On the downside, RELX fell 2.98% to 2,634p. Computacenter declined 1.58% to 4,736p, while Antofagasta slipped 1.21% to 4,001p. Halma eased 1.16% to 3,756p, Games Workshop Group dropped 0.84% to 18,850p, and Lion Finance Group edged 0.42% lower to 11,970p.
WPP slashed jobs in the first half of the year as its revenue continued to fall. The media group cut another 1,267 employees in the first half, around 1.3% of its total staffing.
Across the 12 months to June, WPP has now slashed its total workforce by 6.4% to 104,083 employees.
Revenue in the half came in at £6.4 billion, down over three per cent from last year. Meanwhile, revenue less pass-through costs, a metric used by professional services firms that strip out costs on behalf of clients, fell nearly five per cent to £4.7 billion.
Insurer Admiral has revealed its profit dropped in the first half of 2026, largely driven by lower earned premiums in the UK motor division.
The group’s profit before tax fell by 18% to £429.2 million, down from the record £521 million reported in the first half of 2025. Its turnover remained flat at £3.11 billion, a slight increase from £3.10 billion in the previous year.
Milena Mondini de Focatiis, group chief executive, said, “Against more challenging market conditions, we are pricing for long-term sustainable growth with our UK motor business having increased rates earlier than the market, following a softer period in the cycle.”
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Increased fuel costs caused by the conflict in the Middle East helped swing Wizz Air to a €198.2 million (£170 million) loss in the first quarter of 2026.
Total revenue increased 5.5% to €1,507.4 million, driven by a 25.1% increase in passengers. But revenue per available seat fell 8.1%.
The budget airline is anticipating industry challenges to persist in the market, leading it to reallocate capacity to popular European markets over long-haul flights to the Middle East.
In the US, the Dow Jones rose 0.5% to another record closing high, but the S&P 500 slipped 0.2% and the Nasdaq fell 0.8%.
In Asia on Thursday, Tokyo's Nikkei 225 fell 0.93% to 65,683.26, while China’s Shanghai Composite gained 0.57%. Hong Kong’s Hang Seng declined 1.68%, and South Korea’s Kospi edged lower by 4.58%. In India, both the Nifty 50 and the Sensex rose by 0.06% and 0.29%, respectively.
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