FTSE 100 Falls 0.5% as Banks, Miners Weigh; Barclays Slides 2.3% on Job Cuts

Britain's FTSE 100 fell 0.5% to end at 10,699.33 points on Thursday, briefly touching a one-week low, as banking and mining stocks dragged the index while elevated oil prices and persistent inflation concerns weighed on sentiment. The midcap FTSE 250 slipped 0.9%, its steepest one-day slide since October 1. Barclays fell 2.3% after missing third-quarter profit estimates and announcing plans to cut about 5,000 jobs. Banks were the biggest drag, with the sector index hitting its lowest level since June. Miners also weighed: the FTSE 350 precious metal miners index dropped 5.2% as spot gold fell 2.2%, with Anglo American down 5.5%, Antofagasta off 6.5% and Rio Tinto 3.4% lower. Brent crude futures traded above $111 a barrel, their highest since May, lifting energy stocks as the session's biggest gainers. Defensive heavyweights limited the decline: AstraZeneca rose 2.5%, GSK gained 2.6% and Unilever added 3.1%. Rentokil Initial topped the FTSE 100 with an 8.6% rise after reporting higher third-quarter organic revenue growth and a $200 million buyback plan. London Stock Exchange Group gained 4.3% after raising its 2026 revenue outlook and agreeing to acquire financial data firm Octus for about $3.54 billion.