UK Stocks Cautious Amid Elevated Oil Prices and ECB Decision

The UK stock market began Thursday's session on a cautious note as investors assessed various factors that could influence trading. Oil prices remained elevated, above $100 per barrel, which can impact inflation expectations and household spending.

At the same time, the European Central Bank (ECB) was set to announce its latest interest-rate decision, a move closely watched by markets. Investors were looking for signals on European monetary policy and the broader outlook for borrowing costs.

Associated British Foods reported that Primark's like-for-like sales would remain under pressure due to consumers navigating a difficult spending environment. However, the retailer noted that new store openings and franchise activity were supporting its overall performance.