FTSE 100 Little Changed on Thursday

The FTSE 100 traded around the flatline on Thursday as a clear risk-off tone pressured cyclical stocks and kept the index from gaining traction.

Traders sold shares most exposed to the economic cycle, with HSBC (-0.1%), Unilever (-1%), Rolls-Royce (-0.6%), British American Tobacco (-0.3%), BAE Systems (-0.2%), Lloyds (-0.8%) and NatWest (-0.9%) all weighing on the benchmark.

Miners were muted, including Anglo American (0.1%), Rio Tinto (0.2%), Glencore (0.5%) and copper producer Antofagasta (0.2%).

The weakness reflected broader global equity declines.

While the Fed’s rate cut initially lifted sentiment, optimism faded after Oracle’s earnings reignited concerns about the sustainability of the AI trade.