Market Snapshot
- FTSE 100: 10.312,08 -126,58 -1.21%
- GBP/USD: 1.3616
- GBP/EUR: 1.1567
- Brent crude: $97.44 per barrel, -3.78%
- Gold: $4,758.40 per troy ounce, +1.63%
- UK 10-year gilt yield: 4.924%
The FTSE 100 fell sharply by Thursday afternoon, dropping 1.21% to 10,312.08 as weakness in defensives, insurers and selected large-cap names outweighed strong gains in retail, mining and travel-linked stocks. While Brent crude moved back below $100 per barrel, which would normally offer some relief to the wider market, the session instead reflected a more uneven and cautious tone across London equities.
That caution was visible in the wider macro picture. Gold rose 1.63% to $4,758.40 per troy ounce and the UK 10-year gilt yield remained elevated at 4.924%, both of which suggest investors were still looking for protection and remained wary of the broader backdrop. Sterling was also firm against both the dollar and the euro, which reduces some of the translation benefit that internationally exposed FTSE 100 companies can often enjoy when the pound is weaker.
The strongest moves came from selected cyclical and recovery names. JD Sports Fashion led the risers after reporting resilient full-year performance, while miners including Fresnillo, Endeavour Mining and Antofagasta also moved higher. Auto Trader, Burberry and InterContinental Hotels Group were also among the stronger names. However, those gains were more than offset by heavy falls in RELX, Admiral, Centrica and BAE Systems, with Diageo, Severn Trent, Imperial Brands and British American Tobacco also under pressure.
Taken together, the session looked less like a broad market sell-off and more like a sharp divergence in sector performance. Investors were prepared to back selected names with supportive company or sector dynamics, but the fall in the wider index shows that confidence was not broad enough to carry the market higher. For now, the combination of elevated gilt yields, firmer sterling and ongoing defensive demand continues to act as a restraint on the FTSE 100 even when parts of the market perform strongly.
Top Risers
- JD Sports Fashion rose 9.62% to 74.61p, among the leading gainers, after reporting resilient FY26 performance with sales up 10.5%.
- Fresnillo gained 6.07% to 3,672.50p.
- Endeavour Mining rose 5.22% to 4,919.50p.
- Auto Trader Group added 4.84% to 524.60p.
- Hiscox gained 4.13% to 1,614.00p.
- Burberry rose 3.61% to 1,255.90p.
Top Fallers
- RELX fell 5.45% to 2,481.00p, among the leading fallers.
- Admiral Group dropped 5.05% to 3,176.00p.
- Centrica declined 4.94% to 199.15p.
- BAE Systems fell 4.14% to 2,002.50p.
- Diageo slipped 2.70% to 1,526.50p.
- Severn Trent dropped 2.64% to 3,136.00p.
