FTSE 100 snaps four-day winning streak as miners and banks weigh
EWU•The FTSE 100 fell 1.1% to 10,638.43, its steepest one-day drop in a month, as miners and banks declined ahead of the Bank of England’s rate decision and US midterm elections. The FTSE 250 lost 0.5% to 24,674.91.
1. Miners and banks fall
The FTSE 100 ended down 1.1% on Tuesday, ending a four-session winning streak. The basic resources index fell 2.6% as copper hit a multiweek low; Antofagasta dropped 3.5% and Glencore fell 2.8%. The banks index lost 1.6%, with HSBC down 2.0%.
2. Rate decision in focus
Investors were watching the US midterm elections and the Bank of England’s decision due Thursday. The BoE was expected to raise rates by 25 basis points. Alessia Berardi of Amundi Investment Institute said one or two rate moves may be enough to guard against further effects on the broader economy.
3. Company movers
Drax rose 6.6% after saying it had partnered with Brookfield Asset Management and Radiant to develop a data centre. Associated British Foods fell 2.2% after forecasting lower annual profit, while Hiscox gained 2.9% after reporting a 9.5% rise in insurance premiums in the first nine months of 2026.
