FTSE 100 Slips 1.3%; Miners Lose Ground

RTTNews | 169 days ago

(RTTNews) - The UK stock market opened on a weak note Thursday morning and continued to struggle for support with investors staying cautious amid uncertainty about the status of U.S.-Iran peace talks.

Shares from banking and mining sectors declined sharply.

Iran, which has dismissed a 15-point proposal by the U.S. to pause the war, is insisting that an end to the conflict will only occur on Tehran's own terms and timeline.

Additionally, oil's climb amid concerns about supply disruptions has raised inflation fears and possibility of rate hikes by central banks.

UK's equity benchmark FTSE 100 was down 134.57 points or 1.33% at 9,972.27 nearly half an hour before noon.

3i Group shares shed more than 8% after Citigroup lowered the stock's target price.

Miners declined sharply. Anglo American Plc slid 5.2%, Antofagasta and Fresnillo lost 4.4% and 4.2%, respectively. Endeavour Mining declined by about 3.6%, Rio Tinto lost 2.7% and Glencore dropped by about 2.3%.

Aviva, Segro, Lion Finance, Rolls-Royce Holdings, Pershing Square Holdings, St. James's Place, Entain, Standard Chartered, Barclays and Prudential lost 2%-5%.

Babcock International, ICG, Smith & Nephew, Lloyds Banking Group, Melrose Industries, National Grid, Hiscox and Natwest Group also declined sharply.

Among the gainers, retail giant Next surged 5.3% after lifting its profit guidance for 2026. Next announced that its bottom line totaled GBP888.5 million, or GBP7.454 per share in 2025. This compares with GBP736.1 million, or GBP6.055 per share, in financial year 2024.

The company's revenue for the period rose 12.8% to GBP6.901 billion from GBP6.118 billion last year.

Oil stocks BP and Shell gained 1.3% and 1%, respectively, thanks to higher oil prices.

U.S. Dollar Ticks Higher Amid Inflation Data Release, Expectations Of Reopening Of Strait Of Hormuz

The U.S. Dollar value inched higher as investors weighed today's inflation data that pushed the odds for a rate hike in the U.S. higher against reports of an upcoming meeting between the Gulf Cooperation Council nations and Iran to hasten the reopening of the Strait of Hormuz.

RTTNews | 10h 52min ago

TSX Climbs On Tech Rally, Looks Set To End 6-day Losing Streak

The S&P/TSX Composite Index rose 0.36% Friday to 35,634.50 as technology stocks surged 3.5%, contributing significantly to gains. Oil prices fell following International Energy Agency's downward global oil demand forecast revision.

RTTNews | 13h 8min ago

Swiss Market Ends Modestly Higher

The Switzerland stock market closed modestly higher on Friday, in line with markets across Europe, as a sharp drop in oil prices helped lift sentiment.

RTTNews | 13h 42min ago

European Markets Rise As Oil Prices Fall On IEA Demand Cut

European markets gained ground Friday after the International Energy Agency cut its global oil demand forecast, sending Brent crude futures down 3.5% to $103.50. The IEA now projects world oil demand will drop 2.5 million barrels per day this year versus its prior estimate of 1.6 million bpd.

RTTNews | 14h 5min ago

U.S. Consumer Sentiment Deteriorates Much More Than Expected In September

A report released by the University of Michigan on Friday showed consumer sentiment in the U.S. has deteriorated by much more than anticipated in the month of September. The University of Michigan said its consumer sentiment index slumped to 47.8 in September after tumbling to 51.7 in August. Economists had expected the index to edge down to 51.0.

RTTNews | 17h 26min ago

CPSC Recalls: 2.3 Mln Candy Bottles, Motorcycles, Dressers, Dual Fuel Ranges, Fire Spray Canisters

The U.S. Consumer Product safety Commission or CPSC has announced various recalls including more than 2.3 million sour crush candy bottles, motorcycles, six-drawer dressers, dual fuel ranges, hair dryer brushes, and fire spray canisters, among others. In most of the recalls, consumers are urged to immediately stop using the recalled product, and contact the respective firm for either a free repair

RTTNews | 17h 35min ago

U.S. Consumer Price Growth Matches Estimates, Core Prices Rise Slightly More Than Expected

A closely watched report released by the Labor Department on Friday showed consumer prices in the U.S. increased in line with economist estimates in the month of August, although core prices rose by slightly more than expected. The Labor Department said its consumer price index climbed by 0.4 percent in August after inching up by 0.1 percent in July.

RTTNews | 18h 15min ago

U.S. Consumer Prices Increase In Line With Estimates In August

A closely watched report released by the Labor Department on Friday showed consumer prices in the U.S. increased in line with economist estimates in the month of August.

RTTNews | 19h 17min ago

EURUSD	1.1598	GBPUSD	1.3518
USDJPY	153.62	USDCAD	1.387