FTSE 100 slips as Brent crude nears $100, boosting rate-rise bets

  • FTSE 100 traded lower as global stocks weakened and Brent crude approached $100 a barrel.
  • Lloyds, HSBC and Barclays fell between 1.3% and 1.7%, while Computacenter jumped 4%.
  • UK retail sales grew 0.7% in August, according to the British Retail Consortium.

The FTSE 100 traded slightly lower as global equity markets weakened and Brent crude approached $100 a barrel, strengthening expectations that central banks may need to continue raising interest rates to contain inflation. Banks led declines, with Lloyds Banking Group, HSBC Holdings and Barclays falling 1.3% to 1.7%, while NatWest and Standard Chartered also eased. AstraZeneca and GSK slipped about 0.5% to 0.7%, and Rolls-Royce declined 0.9%. Computacenter jumped 4% after strong results, supported by the boom in data-centre spending. Higher oil prices lifted BP and Shell, while record copper prices helped Antofagasta and Glencore advance. Separately, the British Retail Consortium reported that UK retail sales grew 0.7% in August, below the 1.6% 12-month average and 3.1% growth recorded in August last year.

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