FTSE 100 Slips 0.29% as Banks and Commodity Stocks Weigh; Ocado Jumps 6.6%

Britain's FTSE 100 closed down 0.29% at 10,733.00 on Tuesday, pressured by banking and commodity-linked shares, while resilient labour market data kept expectations alive for a Bank of England rate hike next month. The midcap FTSE 250 edged down 0.06% to 24,364.76. Pay growth edged higher and payrolls rose in September, ONS data showed, and traders have almost fully priced in a quarter-point BoE increase in November, per LSEG data. Banks fell 0.8% to a more than four-month low, with HSBC, Lloyds and NatWest down 0.8% to 1.2%; BP and Shell lost 1.7% and 0.7%. The FTSE 350 basic resources index dropped 1.6% as Anglo American fell 2% after maintaining 2026 copper guidance despite a 5% decline in third-quarter output. Defensives cushioned losses: utilities rose 1.5% and National Grid gained 1.8%. Ocado climbed 6.6% to top the FTSE 250 after J.P. Morgan raised its price target to 460 pence from 290 pence. Homebuilders jumped 3.3%.