The FTSE 100 edged lower in today’s, 26 March 2026, session, slipping 0.6% or 57.2 points to 10,049.64, as mixed corporate earnings and geopolitical uncertainty weighed on investor sentiment. The decline follows two consecutive sessions of gains, with markets now reacting to rising oil prices and leadership changes across key companies.

Next Leads Retail Rally, Energy Stocks Hold Ground

Next surged 5.53% to £12,700 after reporting strong annual results. The company reported a better-than-expected 14.5% rise in annual profits to £1.16 billion after sales lifted 10.8% to £7 billion. 

Guidance for full-price sales growth in the year ahead has been maintained at 4.5%, with the pre-tax profit estimate increased to £1.21 billion. 

Next said it has accounted for £15 million of additional costs that are likely to arise due to the Middle East conflict.

Energy majors also supported the index, with Shell rising 1.18% to £3,473 and BP gaining 0.85% to £571.90 as higher crude oil prices boosted sentiment.

Among others, Experian advanced 1.03% to £2,556, Marks & Spencer gained 0.93% to £336.90, and BT Group climbed 0.63% to £207.30.

Top Losers: Mining Stocks Drag Index Lower

Mining stocks weighed on the index, as Antofagasta declined 4.61% to £3,311 and Fresnillo dropped 4.34% to £3,172, tracking weakness in commodity-linked stocks.

The selling pressure extended further, with Endeavour Mining falling 3.11% to £4,178 and Rio Tinto slipping 2.24% to £6,416.

In addition, Lion Finance Group fell 2.32% to £9,455, while AstraZeneca lost 1.27% to £13,884.

Currys Shares Plunged 10% 

Currys declined 10%, or £13.7 to £118.2 after Alex Baldock announced he is stepping down as chief executive after eight years.

The board has launched a search for his role. Chair Ian Dyson credited Baldock with transforming the business and strengthening its financial position despite challenging conditions. 

The group said trading remains in line with expectations, with net cash set to exceed £100 million by May, following a strong Christmas trading period. 

Co-op Faces £126 million Loss After Cyber Attack

Retailer Co-op has faced a £126 million loss after a cyber attack, which cost the firm around £300 million last year, as its chief executive quits. 

The grocery chain is preparing to slash costs in the coming year, as it plans to cut £200 million of spending in 2026. 

Chief executive Shirine Khoury has announced she will leave the company after nearly seven years at the helm, to be replaced by board member Kate Allum as interim. 

Co-op’s cyber attack in April last year saw all of its 6.5 million members have their data stolen and, among other retail cyber incidents last year, prompted the government to pledge a £210m package to curb future attacks. 

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Macro Pressure: Oil Surge and Geopolitical Risks

Global macroeconomic factors continued to influence market direction, with Brent crude rising above $104 per barrel amid ongoing geopolitical tensions and uncertainty surrounding Iran and potential supply disruptions.

In Asia, the Hang Seng index in Hong Kong is down 1.9%, and the Nikkei 225 declined 0.3%, having bounced yesterday on hopes of a resolution to the Middle East conflict.

In the US, the Dow Jones Industrial Average last night closed 0.7% higher, and the S&P 500 index lifted 0.5%.