Finance
London's FTSE 100 Edges Lower as Utilities and Miners Weigh
Published by Global Banking & Finance Review®
Posted on April 17, 2026
2 min readLast updated: April 17, 2026
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London’s FTSE 100 dipped 0.1% to 10,581.06 as utilities and miners dragged performance, while a surprise move to unlink gas and electricity prices weighed on sentiment. Workspace collapsed ~12%, overshadowing modest gains in the mid‑cap FTSE 250.
FTSE 100 Slips as Utilities and Mining Stocks Drag London Index Lower
Market Overview and Sector Performance
April 17 (Reuters) - UK's benchmark stock index FTSE 100 dipped slightly on Friday, weighed down by utilities and mining stocks, and was set to snap a three-week winning streak.
Impact of Utility Stocks
Shares of utility companies slipped and dragged the benchmark lower after the Financial Times reported on Thursday that the Finance Minister Rachel Reeves vowed to cut the link between gas and electricity prices.
FTSE Index Movements
The blue-chip FTSE 100 index fell 0.1% to 10,581.06 points by 10:10 a.m. GMT, while the midcap FTSE 250 gained 0.1%, heading for a third straight week of gains.
Sector Highlights
- The utilities sector was down 2.7%, with National Grid, Severn Trent down 1.3%; while SSE, Centrica down more than 5%.
- Miners Anglo American and Glencore down 1.9% and 1.3%, respectively, tracking metal prices.
- Precious metal miners and Industrial miners down more than 1%
- Heavyweight banks down 0.1%.
- Oil giants BP and Shell down 0.5% as crude prices declined on prospects of an end to the U.S.-Iran war.
- Workspace Group plunges 12.5% after the office-space provider expects a substantial step down in annual profit.
- Associated British Foods expected to outline plans to separate its Primark fashion chain from its food businesses, shares down 0.4%.
Reporting Credits
(Reporting by Utkarsh Tushar Hathi in Bengaluru; Editing by Shailesh Kuber)
Key Takeaways
- •Utilities fell sharply (‑2.7%), particularly SSE and Centrica down over 5%, after finance minister Rachel Reeves vowed to sever gas‑electricity price linkage, spooking the sector. (reddit.com)
- •Miners such as Anglo American and Glencore slid (~‑1–1.9%) amid weaker metal prices, contributing to the FTSE 100’s near‑term pause in gains. (streetinsider.com)
- •Workspace Group plunged 12.5% on expectations of a significant drop in annual profit, while Associated British Foods saw a modest dip (~‑0.4%) ahead of potential Primark demerger plans. (reddit.com)
References
Frequently Asked Questions about London's FTSE 100 edges lower as utilities and miners weigh
1Why did the FTSE 100 index drop today?
The FTSE 100 dropped mainly due to declines in utility and mining stocks, following regulatory news and weaker metal prices.
2Which sectors led to the FTSE 100's decline?
Utilities and mining sectors were the biggest losers, with significant drops in National Grid, Severn Trent, SSE, Centrica, Anglo American, and Glencore.
3How did oil and banking stocks perform?
Oil giants BP and Shell fell by 0.5%, while heavyweight banks were down 0.1% amid a broader market decline.
4What happened to the Workspace Group shares?
Workspace Group shares plunged 12.5% after warning of a substantial drop in annual profits.
5Is the FTSE 250 performing differently from the FTSE 100?
Yes, the FTSE 250 gained 0.1% and is heading for a third week of gains, in contrast to the FTSE 100's decline.