FTSE 100 Slides to an All Time Two-Month Low

On 30 May 2023, the UK’s FTSE 100 experienced a two-month low a fall in oil prices falling, and a decline in leading shares. On the other hand, Unilever had a drop after the consumer goods firm made an announcement that the chief financial officer will be stepping down soon.

The metrics showed that Unilever (ULVR.L) slipped 3.0% after the producer of the Dove soap said its CFO in person Graeme Pitkethly will be discharging duty at the end of May 2024.

FTSE 100 Daily Price Chart - May 30, 2023

Furthermore, The internationally-focused FTSE 100 (.FSTE) dropped down to 1.4%, which was weighed down by energy majors Shell (SHEL.L) and BP (BP.L), which fell 3.0% and 2.2% respectively.

While the broader oil and gas sector (.FTNMX601010) fell to 2.7% as oil prices dropped after the news concerning the U.S. debt ceiling accord was announced. 

Susannah Street, the head of money and markets at Hargreaves Lansdown said, "A deal may have been struck on the debt ceiling, but it's not fully calmed nervousness on financial markets."

Rolls-Royce (RR.L) also suffer a loss of 3.1% after India filed a graft case on Monday against the automobile maker and BAE Systems (BAES.L) over "criminal conspiracy" in the licensed manufacturing and procurement of 123 advanced jet trainers leaving BAE Systems down to 0.8% drop.

Also on FTSE 100 the mid-cap FTSE 250 (.FTMC) had a gain of a 0.1% after London-listed shares of RHI Magnesita NV skyrocketed to 23.6% after a product refractory supplier gained an offer to buy 20% of its stock.