2025.09.0216:05:37UTC+00UK Stocks End at Over 3-Week Low

The FTSE 100 in London experienced a significant decline, closing approximately 0.9% lower at 9,117 on Tuesday, marking its lowest point since August 8. The drop was largely influenced by growing apprehensions regarding the UK's financial state, which negatively impacted sectors such as real estate, utilities, banking, and retail. The country's long-term borrowing costs have escalated to their highest in 27 years, intensifying the pressure on Chancellor Rachel Reeves in the lead-up to the autumn budget. This situation might compel Chancellor Reeves to contemplate either tax increases or spending reductions to adhere to her fiscal mandate of reducing debt within five years. On a global scale, market sentiment remained cautious, with a keen eye on forthcoming US labor market statistics. Significant declines were noted in companies including Whitbread, Legal & General Group, Unite Group, Phoenix Group Holdings, Land Securities Group, and Marks & Spencer, with each experiencing drops of over 4%. Conversely, Fresnillo saw a notable rise of 5.2%, leading the index, while Endeavour increased by 1.5%, buoyed by stronger gold prices. Meanwhile, oil majors BP and Shell profited from the uptick in crude oil prices.