FTSE 100 extends losing streak to six days as Mideast peace hopes fade (updated)
27/04/2026 17:17
Updates after market closes April 27 (Reuters) - London's FTSE 100 declined on Monday, dragged by losses in the energy and consumer sectors, as stalled Iran-U.S. peace talks dampened investor sentiment ahead of crucial central bank meetings this week. The blue-chip FTSE 100 index .FTSE finished 0.6% lower at 10,321.09 points, its sixth consecutive session of losses- its longest losing streak in more than a year. Meanwhile, the midcap FTSE 250 .FTMC closed flat. Prospects for peace in the Middle East dimmed over the weekend. U.S. President Donald Trump called off a trip by his envoys to Pakistan and later said Iran should phone when it wanted a deal. Energy .FTNMX601010 sector losses weighed the most on the blue-chip index. Shell SHEL.L dipped 1.7% after the oil and gas major agreed to buy Canadian energy company ARC Resources ARX.TO in a $16.4 billion deal. Consumer-related stocks .FTNMX452010 also faced pressure, with supermarket chain Sainsbury SBRY.L falling 3.3% after Goldman Sachs' double downgrade on its stock. Marks and Spencer MKS.L dropped 4.7%. JPMorgan reported Worldpanel data showing UK clothing market slowdown, with M&S sales dropping 0.5% year-on-year versus 3.2% growth in the previous period. Precious metal miners .FTNMX551030 dropped 2.8% as gold prices edged lower. GOL/ Global oil benchmark Brent crude futures LCOc1 hit two- week high at $107.49 a barrel. This fed inflation fears and extinguished expectations for interest-rate reductions across economies this year. All eyes are now on the Bank of England, widely expected to keep interest rates steady this week, while attempting to assess mounting economic challenges stemming from the war in Iran. Market participants will also monitor forthcoming policy decisions from the U.S. Federal Reserve and European Central Bank for further direction. On Monday, UK's aerospace and defense stocks .FTNMX502010 edged 0.2% higher. A survey from the Confederation of British Industry showed the country's retailers reported the broadest year-on-year decline in sales in more than 40 years as the Iran war raised households' inflation fears. (Reporting by Ragini Mathur in Bengaluru; Editing by Shailesh Kuber and David Gregorio) ((Ragini.Mathur@thomsonreuters.com;))