Finance
FTSE 100 Slides as Bp, Standard Chartered Drag
Published by Global Banking & Finance Review®
Posted on February 10, 2026
2 min readLast updated: February 10, 2026
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Published by Global Banking & Finance Review®
Posted on February 10, 2026
2 min readLast updated: February 10, 2026
Add as preferred source on GoogleFTSE 100 fell 0.2% as Standard Chartered and BP faced challenges. Political developments also influenced market sentiment.
Feb 10 (Reuters) - The UK's FTSE 100 closed lower on Tuesday, as shares of BP slid after the oil major suspended its share buyback programme, while Standard Chartered slid after the lender announced the departure of its CFO.
The blue‑chip FTSE 100 closed down 0.3%, falling from last week's record highs, while the FTSE 250 midcap index was up 0.6%.
BP sank 6.1% after it suspended its share buyback programme and took about $4 billion of charges in its renewables and biogas assets as the oil major reported quarterly profit that met expectations.
Standard Chartered dropped 5.7%, also among the top decliners in the blue-chip index, after the Asia-focussed lender said Chief Financial Officer Diego De Giorgi had left the bank following a two-year stint.
Investors were also focussed on political developments after British Prime Minister Keir Starmer refused to heed calls to quit, even by the leader of his party in Scotland, pledging to fight on after his appointment of Peter Mandelson as U.S. ambassador plunged his government into a crisis.
Under pressure over the appointment of a man whose close ties to the late U.S. sex offender Jeffrey Epstein have come into full focus, Starmer has attempted to change the narrative.
Sterling and UK government bond yields were calmer on Tuesday after days of sharp declines. British stocks have largely been driven by corporate earnings and the global mood, with investors still on edge over the disruptive impact of AI on various businesses.
Among other movers, AstraZeneca rose 2% after the Anglo-Swedish drugmaker forecast steady growth in 2026 on strong cancer drug demand.
Barclays increased its profit by 12% in 2025 and raised its performance targets, although the British bank's shares fell 2.5% as banks overall came under pressure.
(Reporting by Tharuniyaa Lakshmi in Bengaluru; Editing by Mrigank Dhaniwala and Nick Zieminski)
The FTSE 100 is an index that represents the 100 largest companies listed on the London Stock Exchange, reflecting the performance of the UK stock market.
A CFO, or Chief Financial Officer, is the executive responsible for managing the financial actions of a company, including financial planning, risk management, and record-keeping.
A share buyback occurs when a company purchases its own shares from the marketplace, reducing the number of outstanding shares and often increasing the value of remaining shares.
Market sentiment refers to the overall attitude of investors toward a particular security or financial market, often influenced by news, reports, and economic indicators.
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