FTSE 100 falls as oil surge offsets Tesco gains, 0.2 percent
Published on 10/08/2026 at 21:47 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSKey points in brief
- The FTSE 100 closed at 10,442 points on October 8, 2026, down 0.2 percent.
- Rising oil prices and higher gilt yields pressured the index as geopolitical tensions intensified.
- Tesco rose 5.2 percent after raising its profit outlook and expanding its buyback program.
- Friday's calendar includes Canadian unemployment data and the US Michigan consumer sentiment index.
The FTSE 100 closed on October 8, 2026 at 10,442 points, down 0.2 percent, as a surge in oil prices and higher government bond yields outweighed strong gains in Tesco and energy shares. Morningstar reported that the index had traded as low as 10,367 points.
Oil and bond-market pressure dominated the session. Reuters said Brent crude rose above USD104 as supply concerns followed attacks on shipping in the Gulf and the Strait of Hormuz. Ten-year gilt yields reached 5.527 percent, their highest level since July 2007, according to Reuters.
Tesco leads the gainers
Tesco rose 5.2 percent after increasing the lower end of its full-year adjusted operating-profit outlook to GBP3.15 billion from GBP3.0 billion and raising its share buyback target to GBP950 million. Yahoo Finance reported that first-half adjusted operating profit increased 6.5 percent to GBP1.78 billion, above the GBP1.73 billion estimate.
Imperial Brands gained 5.1 percent after announcing a GBP1.5 billion buyback. Higher oil prices lifted BP 4.1 percent and Shell 3.6 percent, while Standard Life fell 3.8 percent after Aberdeen sold part of its stake. WPP declined 3.3 percent after trading ex-dividend, according to Morningstar.
What comes next
Friday, October 9, 2026, has no significant UK corporate events scheduled. The global calendar includes Canadian unemployment data and the US Michigan consumer sentiment index, Morningstar reported. The UK earnings calendar also lists no corporate events for Friday, according to Morningstar.
