FTSE 100 Falls for 2nd Month But Logs Q3 Gain

The FTSE 100 fell for a third consecutive session on Wednesday, reaching a three-week low and ending September 2% lower. The decline followed a 0.4% monthly drop in August, marking two consecutive months of losses, although the index still gained 1.1% over the third quarter. That quarterly advance was supported by a 5.3% rise in July and extended the FTSE 100’s winning streak to seven quarters, its longest in more than two decades. Banks, energy and pharmaceutical stocks weighed on Wednesday’s performance. HSBC declined 0.7%, while Barclays and Lloyds Banking Group lost 0.4% and Standard Chartered fell 1%. Shell slipped 0.6%, with BP also slightly lower, while AstraZeneca and GSK dropped 0.7% and 1.3%, respectively. Antofagasta gained 2.7%, while SSE and National Grid rose 2% and 1.8%. Meanwhile, revised data showed UK GDP expanded 0.5% in Q2, up from the previous estimate of 0.4%.