UK Stock Market Today: FTSE 100 Slides as Oil Tops $103, Sainsbury and WH Smith Warn on Profits
By 08:38 BST, London’s FTSE 100 was down 0.59% at 10,414.79, with Brent crude at $103.34 a barrel, as a fresh jump in oil and new warnings from Sainsbury and WH Smith kept pressure on UK stocks. The drop left London slightly weaker than the Euro STOXX 50, which was down 0.42%. It matters because the shock is no longer theoretical for UK investors. March inflation accelerated to 3.3%, consumer optimism hit a record low, and the Bank of England goes into next week’s meeting with AJ Bell’s Danni Hewson warning of the “spectre of stagflation”.