British stocks traded mixed on Thursday in volatile conditions, as investors assessed escalating geopolitical risks tied to Iran alongside a surge in oil prices, while awaiting key central bank decisions.
At 07:30 GMT, the FTSE 100 was up 0.13%, while Germany’s DAX fell 0.33% and France’s CAC 40 dropped 1.11%. Sterling edged higher against the dollar, with GBP/USD at 1.3488.
Geopolitical tensions and oil dominate sentiment
Investor confidence remained fragile after reports that United States Central Command is preparing to brief Donald Trump on potential military options involving Iran. The developments have heightened fears of renewed conflict and prolonged disruption to global energy markets.
Oil prices were a central driver of market moves, as concerns intensified over possible blockades affecting Iranian ports and broader instability across the region.
Central banks in focus
Attention now turns to policy decisions from the European Central Bank and the Bank of England later in the session. Both are widely expected to keep rates unchanged, though investors will be closely watching for signals on future policy direction as energy-driven inflation risks build.
This follows a divided outcome from the Federal Reserve, which held rates steady but saw three policymakers vote to remove its easing bias. Chair Jerome Powell said he will remain in his role for now, while Kevin Warsh moves closer to confirmation.
UK roundup
SIG (LSE:SHI) warned of lower first-half profit after a 5% decline in Q1 like-for-like sales, impacted by poor weather and continued weakness in European construction demand.
Glencore (LSE:GLEN) reported a 19% increase in first-quarter copper production to 199,600 tonnes, driven by stronger African grades, with its marketing division expected to outperform full-year guidance.
United Utilities (LSE:UU.) expects annual revenue growth and has submitted a £1.4 billion investment plan to Ofwat, targeting up to 4,000 supply chain jobs.
Whitbread (LSE:WTB) said it will overhaul its restaurant estate, replacing remaining branded sites and warning of up to 3,800 job cuts across the UK and Ireland.
Rolls-Royce (LSE:RR.) reaffirmed its full-year outlook, stating it expects to offset disruption linked to Middle East tensions.
Persimmon (LSE:PSN) highlighted rising supply chain costs tied to higher UK energy prices, with pressure expected to build into 2027.
Metro Bank (LSE:MTRO) maintained its 2026 outlook after reporting a 52% increase in Q1 lending to £5.5 billion, driven by strength in corporate and SME segments.
Unilever (LSE:ULVR) beat first-quarter sales expectations with 3.8% underlying growth, supported by strong demand for its core brands, while maintaining full-year guidance despite macroeconomic uncertainty.
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