2026.03.1908:20:21UTC+00FTSE 100 Extends Losses Ahead BoE

The FTSE 100 fell more than 1% on Thursday, deepening the previous session’s 0.9% loss as the Iran conflict intensified following attacks on energy infrastructure in Iran and Qatar. Mining stocks led the decline: Fresnillo and Endeavour dropped over 5%, Antofagasta also lost more than 5%, and Anglo American, Rio Tinto and Glencore slid between 2.5% and 4.6%. EasyJet fell 3.7%, while major banks including HSBC, Lloyds and Barclays were down more than 1.5%. In contrast, BP gained over 1% and Babcock rose about 2%. Investors are now focused on the Bank of England’s policy decision later today, which follows the Federal Reserve’s signal that rate cuts are unlikely in the near term. On the macroeconomic front, UK data showed easing wage growth and an unchanged unemployment rate of 5.2%, but market attention remains on surging energy prices: European gas is up around 30% and Brent crude is approaching $114 a barrel, heightening inflation concerns.