UK's FTSE 100 dips as oil surges; investors eye BoE Governor's speech

Aberdeen

08/10/2026 10:55

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Oct 8 (Reuters) - UK stocks fell on Thursday as oil prices saw their biggest jump in nearly a month, while investors awaited remarks from Bank of England Governor Andrew Bailey and other central bank policymakers for clues on the interest-rate outlook.
The blue-chip FTSE 100 index .FTSE fell 0.41% to 10,413.43 points by 0936 GMT, while the midcap FTSE 250 .FTMC slipped 0.47% to 23,924.76. 
Brent crude futures LCOc1 rose above $104 per barrel and were last up 4%, their steepest gain in about a month.
Concerns over crude supply persisted following increased attacks on shipping in the Gulf and the Strait of Hormuz O/R
The cost of jet fuel is likely to remain high for the next 12 to 18 months, Ryanair RYA.I Group CEO Michael O'Leary said
Among individual stocks, asset management company Aberdeen ABDN.L rose 0.9% after selling 52 million shares in Standard Life SDLF.L for about £436 million ($575.5 million), halving its stake in the insurer as part of efforts to simplify the business
Tesco TSCO.L shares rose 4.5% and were the top gainer on the FTSE 100, after the food retailer raised its profit forecast to £3.15 billion - £3.3 billion ($4.16 billion - $4.36 billion) for fiscal 2026/27, up from its previous outlook of £3.0 billion - £3.3 billion
Among the top losers, HSBC Holdings HSBA.L slipped 2.1%. FT reported on Wednesday that the bank plans deep job cuts in its UK wealth business as part of a broader, AI-driven efficiency push
Bank of England Governor Andrew Bailey will speak at the İstanbul Economic Forum, alongside several European Central Bank and US Federal Reserve policymakers
ECB's Primoz Dolenc said the central bank may have to keep raising interest rates given an abundance of upside inflation risks, but the timing and size of any move remain uncertain

 (Reporting by Darshan Kumar in Bengaluru; Editing by Vijay Kishore)
 ((darshan.kumar@thomsonreuters.com))