UK Stock Market Today: FTSE 100 and FTSE 250 Fall as Oil Above $100 Delays BoE Cut Bets
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UK Stock Market Today: FTSE 100 and FTSE 250 Fall as Oil Above $100 Delays BoE Cut Bets

March 13, 2026
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London, March 13, 2026, 18:03 GMT

London’s blue-chip shares slid for another session Friday, with the FTSE 100 off 0.43% at 10,261.15. The FTSE 250 shed 0.44%, ending the day at 22,071.1—both indexes logged their second consecutive weekly drop. Shell gained 1.1% and BP ticked up 0.9%, but HSBC slipped 1.2%. Persistently high energy prices are “the real risk,” Berenberg’s Jonathan Stubbs warned. Reuters Japan

This move stands out, with the market facing a tougher backdrop as the UK economy failed to grow in January. The Bank of England now has less room to cut rates quickly. Official data showed GDP was flat for the month, following modest upticks of 0.1% in December and 0.2% in November. On Thursday, Goldman Sachs delayed its forecast for Bank of England rate cuts again, citing sticky inflation threats from rising energy costs.

Thursday’s rout underscored just how quickly things can escalate. The FTSE 350 energy index surged 2.6% to an all-time high, lifted by crude’s near-9% rally. Banks weren’t so lucky: the FTSE 350 banks index plunged 4.8%. AJ Bell’s Danni Hewson warned that “the longer the disruption goes on” the steeper the impact on inflation and borrowing costs. Reuters

Eyes now move to March 19, when the BoE is on deck for its policy call. In a Reuters poll conducted March 9-12, 43 out of 50 economists see the Bank Rate holding steady at 3.75%. UBS economist Dean Turner added that a rate cut before April isn’t looking likely.

GDP numbers landed on the weak side. Services stalled in January, no growth at all. Production slipped by 0.1%. Construction managed a modest 0.2% gain, the Office for National Statistics said.

This is a notable reversal from Feb. 26, the day the FTSE 100 set a fresh record, lifted by positive updates from companies.

Every headline from the Middle East has kept the market on edge. After the FTSE 100 notched its strongest daily gain in almost a year on Tuesday—thanks to de-escalation hopes—that momentum fizzled. By Wednesday, the index slid 0.5%, pressured by a renewed surge in oil prices and lackluster earnings.

But things could turn on a dime. On Monday, Reuters pointed out that the FTSE 100 had slipped roughly 7% from its Feb. 27 record, with crude oil spiking briefly above $119. That move flagged the risk: another surge in energy prices might accelerate the rout; if oil retreats, though, those rate-cut hopes could recover just as quickly.

Marcin Frąckiewicz

Marcin Frąckiewicz is the CEO of TS2 Space and a longtime technology entrepreneur focused on telecommunications, satellite communications and digital innovation. A graduate of the Warsaw School of Economics (SGH), he writes about space technology, artificial intelligence and publicly traded technology companies. His analysis covers major market trends, emerging technologies and the businesses shaping the future of the global economy.

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