The FTSE 100 fell 1% to a three-week low on Tuesday, lagging broader European markets as weakness in commodity prices pressured the index. Mining stocks led the declines: Endeavour dropped more than 4%, while Antofagasta and Glencore slid about 3.5% and 2.8%, respectively. Anglo American and Rio Tinto were also down more than 1.5%, tracking softer gold, silver and copper prices amid uncertainty over US–Iran diplomacy and caution ahead of the US midterm elections.
Oil majors were similarly under pressure, with Shell off roughly 1.5% and BP down about 2% as crude prices extended losses for a second consecutive session. Unilever slipped around 1% after announcing plans to cut €1 billion in costs by the end of 2029. Associated British Foods and Coca-Cola Europacific Partners also retreated following their latest corporate updates.
Bucking the weaker trend, Hiscox rose more than 2% after reporting that gross written premiums increased 9.5% in the first nine months of the year compared with the same period in 2025.
