The FTSE 100 fell 0.1% to 10,811.66, with futures trading 0.41% lower at 10,781.00. Germany's DAX reversed into positive territory, rising 0.1% to 26,007.63, while France's CAC 40 gained 0.1% to 6,413.15. Other global indices also saw declines, with the S&P 500 down 0.58% to 7,673.52, the Nikkei 225 down 0.23% to 65,119.00, and the Dow Jones down 1.18% to 52,786.07. Sterling was down 0.1% against the U.S. dollar, trading at 1.3534.
Top miners and commodity-related stocks saw gains, with Antofagasta leading with a 6% jump, followed by Anglo American (up 2.77%), Weir Group (up 3.82%), and Glencore (up 4.17%). Copper prices hit a fresh London Metal Exchange (LME) record at over $14,600 a tonne due to tight supply after Chile cut its output forecast.
Brent crude rose 0.55% to $97.53 a barrel, while WTI crude gained 1.10% to $92.48. Gold prices fell 0.60% to $4,450.45 an ounce, with spot gold little changed at $4,405.28.
Geopolitical tensions in the Strait of Hormuz and Houthi attacks on Saudi energy facilities continued to impact energy markets. Shipping through Hormuz remained thin, with Kpler's 10-day average at 10 vessels, marking the lowest level since May. Qatar called reopening the Strait a 'paramount' priority. Iran's President Masoud Pezeshkian stated Tehran would 'continue this resistance with strength until aggressors become regretful.' Iran's acting defence minister stated Tehran could strike U.S. warships enforcing its naval blockade, with Washington pledging 'decisive measures.'
Houthi forces struck multiple Saudi energy facilities, with the Saudi-led coalition reporting roughly 74 injured. The GCC and Kuwait condemned the attacks as a 'dangerous escalation.' Qatar worked with China and other partners to resume U.S.–Iran talks, with Qatari Prime Minister Sheikh Mohammed meeting Chinese Foreign Minister Wang Yi in Beijing. Wang stated that 'pressure through guns and cannons is not the way out.'
The UK confirmed a trade ban on goods from Israeli settlements in the occupied West Bank, marking 'the beginning of a new approach,' alongside new sanctions on Hezbollah-linked lender Al-Qard Al-Hassan. British Retail Consortium (BRC) data showed UK retail sales growth slowed to 0.7% year-on-year in August, down from 3.1% a year earlier.
Computacenter expects 2026 profit to be above forecasts driven by strong North American AI demand. Dunelm launched a three-year growth plan featuring £100 million of cost cuts, with its shares falling 14.27%.
