The FTSE 100 opened 20.23 points higher at 10,725.49 as continued tensions in the Middle East kept oil above USD 105 a barrel, while surging US Treasury yields continued to weigh on risk appetite across Europe. Brent crude futures rose 2.46% to USD 105.6 per barrel. US West Texas Intermediate (WTI) advanced 2.20% to USD 94.19 per barrel. 

Sterling was quoted at USD 1.3243 early Thursday, lower than USD 1.3254 at the London equities close on Wednesday. Against the euro, sterling fell to EUR 1.1628 from EUR 1.1636 a day prior.

On the upside, JD Sports Fashion rose 2.18% to 75.84p. British American Tobacco advanced 1.91% to 4,278p, while Antofagasta gained 1.50% to 3,802p. Glencore rose 1.48% to 560.70p, Bunzl added 1.28% to 2,686p, and BP increased 1.26% to 564.20p.

On the downside, Standard Life fell 3.83% to 890.50p. Computacenter dropped 1.37% to 5,405p, while Pershing Square Holdings declined 1.20% to 3,616p. Admiral Group slipped 0.71% to 3,646p, Games Workshop Group fell 0.62% to 17,620p, and AstraZeneca edged 0.40% lower to 12,380p.

Vistry shares slumped after its GBP 661 million pre-tax loss and plans to downsize spooked investors. The housebuilder fell by as much as 7% to 248p in early trade. 

Adam Vettese, market analyst at eToro, said, “This morning’s sell-off is the market calling time on another year of moving goalposts. “Adam Daniels is doing the unglamorous work of shrinking Vistry to 12,000 homes, exiting South East private sales and cutting a land bank that was too big for the returns it produced.

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