London stocks mark weekly fall as oil hits five-month high ahead of budget
SPY•The FTSE 100 fell 0.3% to 10,690.36 on Friday, while the FTSE 250 rose 0.1% but recorded its sharpest weekly decline in six weeks. Brent crude crossed $115 a barrel as investors weighed rising rate-hike bets and next week’s budget.
1. Indexes end mixed
The FTSE 100 snapped a two-week winning streak, closing 0.3% lower at 10,690.36. The FTSE 250 gained 0.1% on Friday but posted its sharpest weekly fall in six weeks; both indexes recorded their first weekly losses in three weeks.
2. Oil and sector moves
Brent crude crossed $115 a barrel, and energy shares advanced 3.9%. Aerospace and defence shares fell 4.6% to a more than five-month low, while Rolls-Royce slid 7.6%, its biggest one-day decline since April 2025. Banks fell 0.8% and healthcare stocks lost 1.1%.
3. Rates and consumer data
September price pressures exceeded expectations, strengthening the case for a Bank of England rate hike in November, which markets had fully priced in. Retail sales volumes fell more than expected in September, while consumer confidence posted its steepest monthly fall since the early stages of the pandemic.
