12.02.202616:57:39UTC+00FTSE 100 Falls from Record High

The FTSE 100 fell 0.7% on Thursday, retreating from a record closing high in the previous session, as weakness in energy, mining, and banking stocks dragged the index lower. Oil majors Shell and BP declined 1% and 3.4%, respectively, following a pullback in crude prices. Mining shares also dropped sharply amid softer metals prices: Rio Tinto slipped 1.1%, Antofagasta 3.7%, Glencore 2.4%, and Anglo American 2.1%, while precious metals producers Fresnillo and Endeavour were down 4.5% and 3.4%.

Banks extended the downward pressure, with HSBC and Barclays each falling 2.7%, Standard Chartered losing 4.2%, NatWest dropping 1.3%, and Lloyds easing 0.7%. British American Tobacco edged 0.7% lower after cautioning that growth would come in at the lower end of its guidance as cigarette volumes continue to decline. Unilever was little changed following a report of stronger sales.

In contrast, Schroders surged more than 28% after Nuveen agreed to acquire the asset manager in a £9.9 billion deal.