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UK's FTSE 100 hits over three-week low as banks, energy stocks sag
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UK's FTSE 100 hits over three-week low as banks, energy stocks sag
Jun 9, 2026 9:46 AM

June 9 (Reuters) - Britain's blue-chip FTSE 100 hit its

lowest since mid-May on Tuesday, bogged down by losses in

heavyweight lenders HSBC ( HSBC ) and Standard Chartered ( SCBFF ), while energy

giants also lost ground amid declining oil prices as investors

monitored the Middle East conflict.

The blue-chip FTSE 100 index closed 1.4% lower at

10,227.33 points, its weakest close since May 15. The midcap

FTSE 250 also shed 0.8%.

* Heavyweight energy stocks dropped 2.2% as

crude oil prices slipped more than 3%. On Monday, Israel and

Iran halted direct attacks on each other after an appeal by U.S.

President Donald Trump.

* Energy giant BP said company veteran Gordon Birrell

will lead its upstream unit and Richard Harding will serve as

interim head of downstream. Its shares closed 3% lower, tracking

the drop in oil prices.

* Asia-exposed lenders Standard Chartered ( SCBFF ) and HSBC ( HSBC )

slipped 6.3% and 4.4%, among the biggest drags on the

blue-chip index.

* JPMorgan analysts said in a note that the impact of

China's new Outbound Direct Investment regulation would be more

negative for UK, Asian and Swiss banks than previously expected.

* Drugmaker GSK lost 0.5% after agreeing to buy

U.S.-listed cancer drug developer Nuvalent ( NUVL ) for $10.6

billion.

* Venture capital firm Molten Ventures ( GRWXF ) gained 16.1%

after announcing annual results. Fever-Tree Drinks

gained 5.1% after the carbonated mixer supplier said it is

confident of meeting full-year market expectations for revenue

and core profit and announced an increase in share buybacks.

* Inflation concerns, stemming from higher energy costs due

to the Iran conflict, have had investors pricing in the

likelihood of a 25 basis point interest rate hike by the Bank of

England in September, according to LSEG-compiled data.

(Reporting by Johann M Cherian and Shashwat Chauhan in

Bengaluru)

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