UK's FTSE 100 dips as oil surges; investors eye BoE Governor's speech
EWU•The FTSE 100 fell 0.41% to 10,413.43 points and the FTSE 250 slipped 0.47% as Brent crude rose 4% above $104 a barrel. Tesco raised its fiscal 2026/27 profit forecast to £3.15 billion-£3.3 billion, and its shares rose 4.5%.
1. UK indexes slip
UK stocks fell as oil prices recorded their steepest gain in about a month and investors awaited remarks from Bank of England Governor Andrew Bailey and other policymakers for clues on the interest-rate outlook. By 0936 GMT, the FTSE 100 was down 0.41% at 10,413.43 points and the FTSE 250 was down 0.47% at 23,924.76. Brent crude was up 4%, above $104 per barrel, amid concerns over crude supply following increased attacks on shipping in the Gulf and the Strait of Hormuz.
2. Tesco raises outlook
Tesco shares rose 4.5%, making it the FTSE 100's top gainer, after the retailer raised its fiscal 2026/27 profit forecast to £3.15 billion-£3.3 billion from a previous range of £3.0 billion-£3.3 billion. Aberdeen rose 0.9% after selling 52 million Standard Life shares for about £436 million, halving its stake as part of efforts to simplify its business. Ryanair Group CEO Michael O'Leary said jet fuel costs are likely to remain high for the next 12 to 18 months.
