10.02.202608:56:30UTC+00FTSE 100 Falls, BP Down by Over 5%

The FTSE 100 fell more than 0.5% on Tuesday after two consecutive sessions of gains, weighed down by declines in heavyweight energy, banking and mining stocks. BP slid over 5% after suspending its share buyback programme, while Standard Chartered dropped about 4.5% following the unexpected departure of its chief financial officer. Other major blue chips also retreated, with HSBC down 0.7% and Rolls-Royce off by roughly 1.8%.

Mining stocks came under pressure as prices for key metals, including gold, silver and copper, weakened, pushing shares in Antofagasta, Fresnillo, Endeavour, Rio Tinto, Anglo American and Glencore lower. Some support for the index came from Barclays, which gained after reporting earnings, and from AstraZeneca, which rallied on the back of strong results and upbeat guidance. Homebuilders also advanced, after Bellway reported improving demand and a rise in reservations at the start of the spring selling season, helping to limit broader market losses.