FTSE 100 Trades Lower

The FTSE 100 fell on Thursday after hitting a record high in the previous session, pressured by a surprise dovish split in the Bank of England’s rate decision.

The BoE kept Bank Rate at 3.75% in a narrow 5–4 vote, prompting traders to price in a higher likelihood of further cuts in 2026.

Banks underperformed, with Lloyds down 4%, NatWest nearly 3% lower, and HSBC and Barclays off more than 1% each.

Miners also retreated as gold, silver, and copper prices slipped, with Fresnillo down 5%, Endeavour 2.7% lower, Antofagasta off 2.5%, Anglo American down around 2% after reducing its 2026 copper output forecast, and Glencore and Rio Tinto down 3% and 2% respectively.

Oil majors Shell and BP fell 1.3% and 0.6% as crude prices weakened, with Shell’s quarterly profit slightly below expectations despite a $3.5 billion share buyback.

Vodafone led overall losses, dropping almost 9% after slower-than-expected service revenue growth.