Feb 19 (Reuters) - London's FTSE 100 dipped from record highs on Thursday, weighed down by Rio Tinto after the global miner missed expectations for annual earnings, while simmering U.S. and Iran
FTSE 100 Declines Amid Rio Tinto Earnings and US-Iran Tensions
By Tharuniyaa Lakshmi
Feb 19 (Reuters) - London's FTSE 100 dipped from record highs on Thursday as Rio Tinto's shares fell after the global miner's annual earnings missed expectations, while simmering U.S.-Iran tensions kept investors cautious.
FTSE 100 and Market Performance
The blue-chip index fell 0.5% after closing at a record high for two straight sessions. The domestically focused mid-cap FTSE 250 was down 0.4%.
Rio Tinto fell 3.6% after the miner reported flat annual earnings as lower prices at its mainstay iron ore business were offset by a strong performance in its copper division.
Other London-listed miners also fell after copper prices were hit by a firmer dollar, rising inventories and reduced demand because of the Lunar New Year holiday in China, the world's biggest metals consumer. [MET/L]
Impact of US-Iran Tensions on Global Markets
"A stronger US dollar - at one-month highs amid flight-to-safety flows - added pressure on precious and base metals, weighing on UK mining stocks, putting a dent in the FTSE 100's stellar performance," said Axel Rudolph, senior financial analyst at IG.
Investors around the globe have been unnerved by U.S.-Iran tensions over Tehran's nuclear program, with oil prices rising by more than 2%. [O/R]
UK stocks have been finding broad support from upbeat corporate earnings, expectations of monetary policy easing as well as inflows from investors looking to diversify away from U.S. stocks that have been pressured by AI-disruption concerns.
Centrica's Decline and Market Reactions
On Thursday, British Gas owner Centrica was down 5.1%, the biggest faller on the blue-chip index, after warning that 2026 profit at its energy trading arm would miss forecasts and pausing its share buyback programme after reporting a 39% drop in annual profit.
(Reporting by Tharuniyaa Lakshmi in Bengaluru; Editing by Mrigank Dhaniwala, Kirsten Donovan)
