The FTSE 100 Index Closes 0.27% Lower

The FTSE 100 fell for a third consecutive session on Wednesday, reaching a three-week low and ending September 2% lower. The decline followed a 0.4% monthly drop in August, marking two consecutive months of losses, although the index still gained 1.1% over the third quarter. That quarterly advance was supported by a 5.3% rise in July and extended the FTSE 100’s winning streak to seven quarters, its longest in more than two decades. Banks, energy and pharmaceutical stocks weighed on Wednesday’s performance. HSBC declined 0.7%, while Barclays and Lloyds Banking Group lost 0.4% and Standard Chartered fell 1%. Shell slipped 0.6%, with BP also slightly lower, while AstraZeneca and GSK dropped 0.7% and 1.3%, respectively. Antofagasta gained 2.7%, while SSE and National Grid rose 2% and 1.8%. Meanwhile, revised data showed UK GDP expanded 0.5% in Q2, up from the previous estimate of 0.4%.

The FTSE 100 Index fell 29 points or 0.27 percent on Wednesday to close at 10608 points. Leading the losses are Airtel Africa (-3.34%), Barratt Redrow (-2.57%) and BT (-2.09%). Top gainers were Antofagasta (3.18%), Reckitt Benckiser (3.13%) and SSE (1.97%).

The FTSE 100 gained more than 0.5% on Wednesday, recovering after two consecutive sessions of losses as stronger-than-expected UK GDP data supported sentiment and utilities and mining stocks advanced. The UK economy grew 0.5% in the second quarter, an upward revision from the previous estimate of 0.4%, highlighting slightly stronger underlying activity than initially reported. Utilities led the broader index, with Severn Trent and United Utilities each rising around 3%, while SSE and National Grid gained more than 2.5%. Mining stocks also performed strongly, with Antofagasta climbing 3.2% and Rio Tinto adding around 2%. Energy companies moved in the opposite direction as weaker Brent crude prices pressured the sector, sending Shell down 1% and BP 1.7% lower. Despite Wednesday’s rebound, the FTSE 100 remained around 1% lower for September, following a 0.4% decline in August. The index was still up about 2% for the third quarter, supported by a 5.3% gain in July.