FTSE 100 closes 1.14% lower at 10,638.43
Published on 11/03/2026 at 22:53 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSFTSE 100 ends four-day winning run
- The index fell 122.90 points, or 1.14 percent, to 10,638.43 on November 3, 2026.
- Mining and bank shares led the decline as copper weakened and investors looked ahead to the Bank of England decision.
- US midterm elections and developments in the Middle East added to market uncertainty.
The FTSE 100 ended Tuesday's London session at 10,638.43 points, down 122.90 points or 1.14 percent from the previous close of 10,761.33. The decline ended a four-session winning streak and was the benchmark's steepest one-day fall in a month, according to Reuters, published by Fidelity.
Miners and banks lead declines
Industrial metal miners were among the main drags after copper fell to a multiweek low. The FTSE 350 basic resources index lost 2.6 percent, with Antofagasta down 3.5 percent and Glencore down 2.8 percent. The banking sector also weakened ahead of this week's Bank of England policy decision: the FTSE 350 banks index fell 1.6 percent, while HSBC declined 2.0 percent and was the largest approximate individual drag on the FTSE 100, Reuters reported.
Associated British Foods was among the weakest FTSE 100 constituents, falling 2.2 percent after the Primark owner forecast lower annual profit. Hiscox moved in the opposite direction, gaining 2.9 percent after reporting a 9.5 percent increase in insurance premiums for the first nine months of 2026. These company-specific moves added to the broader sector rotation rather than changing the index's main direction.
Policy and geopolitical risks in focus
Investors were also weighing developments in the Middle East and volatile oil prices. Reuters said crude prices fell about 2 percent on Tuesday after a 7 percent decline on Monday, while elevated oil prices had continued to fuel inflation concerns. Markets were preparing for the US midterm elections and for the Bank of England's policy decision later in the week, with a 25-basis-point rate increase widely expected, according to the same report.
Alliance News, in a market-close report carried by Morningstar, also cited a fresh US strike on Iran, weaker metals prices and pressure on mining shares. It reported that copper fell 2.5 percent, while Endeavour Mining, Antofagasta, Glencore and Anglo American all declined.
Investor takeaway
The session showed how sensitive the FTSE 100 remains to commodity prices, financial stocks and changes in interest-rate expectations. The close was a broad risk-off move, but individual company results and announcements still produced significant divergences within the index. Further direction may depend on the Bank of England decision, election-related market signals and developments affecting energy and metals prices.
Further FTSE 100 coverage is available on the FTSE 100 topic page.
