UK stocks: Factors to watch on September 30
EWU•Britain’s FTSE 100 was seen opening 0.7% higher on Wednesday. The factors included BP labor negotiations, potential strike action at Antofagasta’s Centinela mine, weaker UK business confidence and commodity moves.
1. Stocks and companies
FTSE 100 futures were up 0.7% before the open. BP proposed a six-year labor contract for workers at its Whiting refinery in Indiana as negotiations with United Steelworkers Local 7-1 continued; separately, it appointed Ben Monaghan as M&A chief from early 2027. The two main unions at Antofagasta’s Centinela copper mine said they were ready to strike but hoped to avert one through government-mediated talks.
2. Economic and market factors
Bank of England policymaker Alan Taylor said it was unclear whether a single rate hike to tame inflation would be practical without fuelling unwarranted speculation about further increases. A Lloyds survey showed British firms were at their least confident since April 2025 in September. UK vehicle production rebounded in August as domestic demand picked up, while a deepening EU trade dispute threatened the sector’s long-term outlook. Oil rose after Trump ruled out easing Iran sanctions, gold fell on rate concerns and copper edged higher after upbeat Chinese factory data; the FTSE 100 had closed down 0.5% on Tuesday.
