UK’s FTSE 100 falls as banks, miners drag; Barclays slides on job cuts
EWU•The FTSE 100 fell 0.5% to 10,699.33, while the FTSE 250 dropped 0.9%, as banks and miners weighed on UK shares. Barclays fell 2.3% after missing third-quarter profit estimates and announcing plans to cut about 5,000 jobs.
1. UK shares decline
The FTSE 100 ended down 0.5% at 10,699.33 points, briefly touching a one-week low, while the FTSE 250 fell 0.9%, its steepest one-day drop since October 1. Banks were the biggest drag, with the banking index at its lowest since June.
2. Miners and oil
Precious metal miners fell 5.2% as spot gold dropped 2.2%; Anglo American lost 5.5%, Antofagasta fell 6.5% and Rio Tinto declined 3.4%. Oil prices rose above $111 a barrel, their highest level since May, while elevated oil prices continued to fuel inflation concerns.
3. Company results
Barclays fell 2.3% after missing third-quarter profit estimates and announcing plans to cut about 5,000 jobs. Rentokil Initial gained 8.6% after reporting higher third-quarter organic revenue growth and a $200 million buyback plan. London Stock Exchange Group rose 4.3% after raising its 2026 revenue outlook and agreeing to acquire Octus for about $3.54 billion.
