FTSE 100 Dips as BP Sells Castrol Stake for $6 Billion

The FTSE 100 index fell 0.2% as AstraZeneca and GSK shares declined. BP sold a 65% stake in Castrol to U.S. firm Stonepeak for $6 billion. Despite the dip, FTSE 100 is set for a fifth year of gains. Trading was thin before Christmas closures.

The FTSE 100 index experienced a minor decline of 0.2% amidst subdued trading as the holidays approached, with notable decreases in AstraZeneca and GSK shares.

BP announced the sale of a 65% stake in its Castrol lubricants business to Stonepeak, garnering $6 billion and marking a key step in BP's broader debt reduction strategy.

The FTSE 250 index also saw a slight drop but maintained its second consecutive weekly gain. Despite these small dips, the FTSE 100 is on track for a fifth consecutive year of growth.

(With inputs from agencies.)