FTSE 100 Live: FTSE 100 remains lower as ECB raises interest rates
FTSE 100 down 73 points at 10,596.88 as ECB raises rates to 2.5%. Oil above $100 fuels inflation concerns. Analysts update targets for Persimmon, Barratt Redrow, Boohoo, Currys, Fevertree, AstraZeneca. Whitbread and BP shares rise; Genus shares fall despite strong results.
How this was made
The 30-second read
Why it matters
The rate hike and high oil prices combine to weigh on consumer‑sensitive stocks, while energy names benefit, leading to a mixed‑direction market.
Market read
Macro policy shift and commodity price environment drive divergent moves across UK market sectors.
What to watch
Potential resilience in UK exporters benefiting from a weaker pound.
Background
ECB raised deposit rate to 2.5% on Thursday, its second increase this year, while oil stayed above $100, pressuring UK equities.
Ticker impact
Deutsche Bank praised AstraZeneca tozorakimab data but stayed bearish.
Sideways to slight downside.
Data noted but no clear catalyst.
BP shares rose 0.9% as higher oil prices supported energy stocks.
Continued upside if oil stays high.
Direct commodity price link.
Shell added 1% as Brent crude remained above $100.
Potential further gains with sustained oil levels.
Direct commodity exposure.
Market effects
Energy sector gains from high oil; consumer stocks pressured by inflation.
UK equities pressured by ECB rate hike and oil‑driven inflation.
ECB decision adds to global rate‑rise narrative, affecting risk assets worldwide.
Counterpoint
Despite higher rates, some defensive stocks may outperform as investors seek yield.
Key entities
- institutionEuropean Central Bank
Central bank that raised deposit rate to 2.5%.
- companyAssociated British Foods
UK consumer goods group whose shares fell >10% on weak Primark sales.
