FTSE 100 Dips Amid Shell's Profit Slump, BoE Rate Decision Looms

The UK's FTSE 100 index fell due to Shell's lower-than-expected profits and downward pressure from miners, while investors focused on the Bank of England's pending rate decision. Political uncertainties and encouraging performances by select technology stocks like Relx and Playtech marked the trading landscape.

The FTSE 100 index in the UK experienced a decline on Thursday, impacted by the disappointing profit report from oil giant Shell and weakened miner stocks, as the market awaited the Bank of England's monetary policy decision.

The blue-chip index was down by 0.4% mid-morning, following its record high closure the previous day. Notably, Shell's shares fell 1% after revealing a fourth-quarter net profit of $3.3 billion, an 11% decline from the prior year, primarily due to lower oil prices.

Investors also looked toward the BoE's expected hold on interest rates at 3.75%, amid ongoing political challenges faced by Prime Minister Keir Starmer. Technology stocks rebounded, with significant gains for firms like Relx and Playtech, showcasing a mixed but strategic landscape for investors.

(With inputs from agencies.)