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The FTSE 100 closed marginally lower at 10,441 on Thursday, extending the sharp losses from the previous session as renewed weakness in financial stocks weighed on the index. Gilt yields on the longer end of the curve climbed to multi-decade highs, with rising energy costs intensifying inflationary pressures from fuel and power. Banks continued to face headwinds from higher funding and lending costs, with HSBC, Lloyds, Barclays, NatWest, and Standard Chartered each shedding around 2%. The pharmaceutical sector also came under pressure, as GSK fell 3.1% and AstraZeneca declined 2.3%. In contrast, Tesco advanced 5.2% after reporting a 6.3% increase in first-half adjusted operating profit to £1.78 billion, leading the supermarket group to upgrade its full-year guidance and lift its share buyback programme to £950 million.
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