FTSE 100 Falls as Commodity-linked Stocks Weigh
The FTSE 100 fell 1% to a three-week low on Tuesday, underperforming broader European markets as weakness in commodities weighed on the index. Mining stocks led the declines, with Endeavour down more than 4%, while Antofagasta and Glencore lost around 3.5% and 2.8%, respectively. Anglo American and Rio Tinto also fell over 1.5% as gold, silver and copper prices weakened amid uncertainty over US-Iran diplomacy and caution ahead of the US midterm elections. Oil majors Shell and BP dropped around 1.5% and 2%, respectively, as crude prices extended losses for a second session. Unilever slipped around 1% after outlining plans to cut €1 billion in costs by the end of 2029. Associated British Foods and Coca-Cola Europacific Partners also declined following their latest updates. In contrast, Hiscox gained more than 2% after reporting a 9.5% increase in gross written premiums during the first nine months of the year compared with the same period in 2025.
The FTSE 100 fell 1% to a three-week low on Tuesday, underperforming broader European markets as weakness in commodities weighed on the index. Mining stocks led the declines, with Endeavour down more than 4%, while Antofagasta and Glencore lost around 3.5% and 2.8%, respectively. Anglo American and Rio Tinto also fell over 1.5% as gold, silver and copper prices weakened amid uncertainty over US-Iran diplomacy and caution ahead of the US midterm elections. Oil majors Shell and BP dropped around 1.5% and 2%, respectively, as crude prices extended losses for a second session.
Unilever slipped around 1% after outlining plans to cut €1 billion in costs by the end of 2029. Associated British Foods and Coca-Cola Europacific Partners also declined following their latest updates. In contrast, Hiscox gained more than 2% after reporting a 9.5% increase in gross written premiums during the first nine months of the year compared with the same period in 2025.