FTSE 100 Falls 0.8% Amid Oil Price Drop

London's FTSE 100 index fell by 0.8% on Thursday, ending its six-session winning streak. The decline was driven by a drop in oil prices, which weighed heavily on energy majors.

The softening of raw material prices also affected the index's titans, despite positive corporate prints from the insurance sector and relief from US mega-cap earnings overnight.

Insurance heavyweight Aviva slipped 1.3% despite reporting an 8% increase in first-half new business profit to $1.38 billion.

However, industrial data showed ongoing manufacturing headwinds, with British vehicle production tumbling 11.6% year-on-year in July to 63,655 units.