London stocks slip as Middle East tensions persist; BoE in focus

ReutersJun 19, 2025 9:54 AM

FTSE 100 down 0.3%, FTSE 250 falls 0.7%
Energy shares jump on higher crude prices
Whitbread falls on quarterly sales decline
Hays slides after profit warning

June 19 (Reuters) - London stocks slipped on Thursday as a raging conflict in the Middle East kept investors on edge ahead of the Bank of England's monetary policy decision.

The benchmark FTSE 100 .FTSE was down 0.3% as of 0939 GMT, just about 1% away from its intraday record high.

Trading is expected to be thin as U.S. markets are shut for a public holiday.

Israel and Iran's aerial attacks continued as U.S. President Donald Trump kept the world guessing about whether the U.S. would join Israel in air strikes on Tehran.

Trump said that Iranian representatives wanted to meet in Washington, while European Union ministers will hold talks with them on Friday, with markets hoping for a de-escalation in hostilities.

The conflict has impacted oil prices, which were higher on the day, boosting the energy sector .FTNMX601010 by 1.2%.

Gains in heavyweight Shell SHEL.L and BP BP.L limited declines on the commodity-heavy FTSE 100.

Personal goods .FTNMX402040 and automobile .FTNMX401010 stocks down 3.4% and 2.1%, respectively, led broader declines.

Investor attention was on the Bank of England's monetary policy decision, where it is widely expected to keep rates on hold.

This follows a meeting of the U.S. Federal Reserve, where Chair Jerome Powell said he expected "meaningful" inflation ahead, due to Trump's planned tariffs, but policymakers still kept two rate cuts in 2025 on the table, offering little clarity on the overall stance.

Among stocks, Persimmon PSN.L and United Utilities UU.L were at the bottom of the FTSE 100, down 3.5% and 3.1%, respectively, as they traded without entitlement to their latest dividend payouts.

Whitbread WTB.L fell 2.1% after the Premier Inn owner reported another quarterly sales decline.

Midcaps in London .FTMC fell 0.7%. Hays HAYS.L dragged with a 12.5% loss after it warned of an annual profit miss due to sluggish hiring.

Revolution Beauty REVB.L plunged 22% after billionaire Mike Ashley's Frasers FRAS.L pulled out of the takeover bid for the cosmetics company.

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