FTSE 100 Live: Index Falls 1.4% Below 9,800 as Mining Stocks Slide and Energy Prices Surge

The FTSE 100 extended its losses on Monday, 23 March 2026, declining 135.94 points or 1.4% to 9,782.39, marking its lowest level since mid-December. The sell-off comes amid rising geopolitical tensions, surging oil prices, and shifting expectations around global interest rates.

Market Pressure Driven by Miners and Commodities

Mining stocks dragged the index, with Fresnillo declining 3.85% to £2,950, Antofagasta declined 3.79% to £3,024, and Endeavour Mining falling sharply by 4.00% to £3,844, reflecting continued pressure from falling gold and silver prices.

The broader weakness in metals also impacted sentiment, with copper hitting a three-month low, dragging down major players across the sector. 

Losses were widespread across key heavyweight stocks. AstraZeneca declined 1.60% to £13,674, while Games Workshop dropped 1.32% to £17,160.

Also, Diploma fell 2.80% to £5,565, showing profit booking after its earlier surge. 

Gainers

Despite the broader downturn, Croda International rose 1.18% to £2,584, supported by stable demand in specialty chemicals. BP gained 0.48% to £565 as elevated crude prices continued to support energy stocks.

Experian added 0.30% to £2,655 while Smiths Group gained 0.28% to £2,124 and Beazley advanced 0.08% to £1,265, respectively. 

Banking and Retail Stocks Under Pressure

Financial stocks also faced selling pressure, with Barclays and Lloyds Banking Group falling around 2% each. 

Rising bond yields, with US 10-year Treasury yields near 4.42%, have increased concerns about tighter monetary conditions, impacting banking sentiment.

Retail names also weakened, with Next falling to £12,000 ahead of its results and Marks & Spencer slipping slightly, reflecting a cautious consumer outlook amid inflation concerns.

Applied Nutrition Increased Profit 

Protein shake maker Applied Nutrition has posted a profit growth of 77% to £21 million in the first half of this year, as revenue climbed 57% to £75 million. 

Applied Nutrition said it will make £140 million in revenue this year, despite forecasting “some reduction” in its shipping into the Middle East due to the conflict. 

Also Read: Stock Market Today: Sensex Crashes 1,742 Points, Nifty Drops to 22,551 as US-Iran War Enters Week Four

Global and Macro Factors Weigh on Sentiment

The broader market downturn is closely tied to escalating tensions in the Middle East, particularly around the Strait of Hormuz, which has disrupted global energy supply. Brent crude has surged to $113.41 per barrel, up nearly 55% in four weeks.

At the same time, gold prices have dropped around 6%, extending last week’s 10% decline, as markets increasingly price in the possibility of higher interest rates rather than rate cuts.

In the US, the Dow Jones Industrial Average closed 1% lower on Friday, 20 March 2026, while the S&P 500 index reversed 1.5% to a six-month low and Nasdaq Composite lost 2%.

In Asia, the Nikkei 225 has slumped 3.5% and the Hang Seng index in Hong Kong by 4%.