FTSE 100 Today: Why London Stocks Held Up as Wall Street Fell
London's value-heavy blue chips closed near 10,730 as US tech slumped. AstraZeneca and BT rose; NatWest fell.
The short answer: FTSE 100 today: London's blue-chip index held steady while Wall Street sold off, closing at 10,729.78 on Friday, October 30, 2026, up 0.1% on the day and about 0.4% for the week. Gains in AstraZeneca and BT Group offset a sharp fall in NatWest. The FTSE 250 rose about 0.9% for the week. The index's tilt toward defensive and value sectors has protected it from the US tech sell-off.
FTSE 100 today: why London held up
The FTSE 100 is dominated by banks, energy companies, miners, pharmaceutical groups and consumer staples, with few large technology companies. When US tech stocks fell on worries about AI spending, the London index was relatively sheltered. Healthcare giant AstraZeneca and telecoms group BT were among the strongest performers on Friday.
Why it matters: different stock markets have different sector mixes. Owning UK shares alongside US shares can soften the impact when one sector, such as US tech, falls sharply.
Movers and themes
- NatWest was the biggest faller, as banks reacted to tax plans around the Budget.
- Pharmaceuticals and telecoms attracted buyers looking for steady earnings.
- Energy stocks continue to benefit from high oil prices, while those same prices push up inflation.
- Weaker gold prices weighed on precious metals miners; see gold price in pounds.
The Budget and interest rates
Chancellor John Healey delivered his first Budget on October 28. Gilt markets were broadly steady, as analysts described the plans as close to expectations. Our UK Budget stock market analysis covers winners and losers.
Attention now turns to the Bank of England. It held Bank Rate at 3.75% in September by a 6–3 vote, with three members wanting a rise to 4%. Higher energy prices have pushed UK inflation up, and the decision on November 5 could bring the first hike of this cycle. Read our Bank of England interest rate preview.
Yes, but: a higher Bank Rate tends to support bank profits but can weigh on housebuilders, property companies and smaller domestic businesses in the FTSE 250.
What to watch next week
- The Bank of England decision and Monetary Policy Report on November 5.
- The US midterm elections on November 3 and their effect on global markets.
- Oil prices and the pound, which affect the many FTSE 100 companies that earn in dollars.
The bottom line: The FTSE 100 today shows the value of diversification: while US tech stumbled, London's defensive, value-heavy index held near 10,730. The Bank of England's November 5 decision is the next big test.
Frequently asked questions
What is the FTSE 100?
An index of the 100 largest companies listed on the London Stock Exchange by market value, weighted by size.
Why does a weaker pound help the FTSE 100?
Many FTSE 100 companies earn most of their revenue abroad in dollars, which are worth more in pounds when sterling falls.
Figures as of the close on October 30, 2026. This article is for education only and is not investment advice.
This article is for information only and is not investment, tax or legal advice. Prices and data may be delayed. Read our financial disclaimer.
Sources
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