The FTSE 100 closed 177 points, or 1.68%, lower at 10,428 on Thursday, marking its steepest daily decline since May.
The FTSE 100 closed 177 points, or 1.68%, lower at 10,428 on Thursday, marking its steepest daily decline since May.
US stocks rallied at the opening bell on Thursday even as the benchmark 10-year Treasury yield reached its highest level since 2002.
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UK mortgage rates have climbed to their highest levels in years as rising government bond yields increase funding costs for lenders.
Brent crude jumped more than 2% to around US$100 a barrel on Thursday after reports that Chinese refiners had suspended exports of oil products to markets outside Hong Kong and
Global markets were mixed on Thursday as strong technology shares contrasted with continued pressure from elevated government bond yields.
The FTSE 100 started October sharply lower, falling more than 1% in early trading and extending Wednesday’s decline.
FTSE 100 futures indicated an opening around 45 points, or 0.4%, lower at 10,561.40 on Thursday, extending Wednesday’s 0.3% decline.
The FTSE 100 ended 30.71 points, or 0.3%, lower at 10,606.00 on Wednesday, while the FTSE 250 gained 0.7% to 24,539.99 and the AIM All-Share rose 0.2% to 787.40.
Britain’s diesel supply could come under further pressure after ExxonMobil temporarily shut production at its Fawley refinery in Hampshire for planned maintenance lasting into November.
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The FTSE 100 climbed 66 points, or 0.6%, to 10,702 on Wednesday morning, extending its advance after the opening bell and recovering from Tuesday’s decline.