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Daily market update

UK market update: FTSE 250 gains as FTSE 100 holds flat and Lloyds slips

At midday on Friday the FTSE 250 was trading higher, the FTSE 100 was broadly unchanged and sterling had firmed against the dollar, with Lloyds the weakest of the stocks we track.

16 Oct 2026, 12:311 min readLedgerPoint editorial team

Indices

  • FTSE 100: was trading at 10840.73, broadly flat (+0%) versus the previous close.
  • FTSE 250: was trading at 24550.91, up 0.52%.
  • GBP/USD: sterling was at 1.3339 dollars, up 0.82%.
  • GBP/EUR: sterling was at 1.1844 euros, up 0.25%.

The more domestically focused FTSE 250 was outpacing the FTSE 100 in late-morning trade.

Stock movers

Among the stocks we track, fallers outnumbered risers, and all moves were modest.

Fallers

  • Lloyds Banking Group: was trading at 103.80p, down 1.94%, the largest decline among the stocks we track.
  • AstraZeneca: was trading at 12474.00p, down 1.76%.
  • GSK: was trading at 1847.00p, down 1.15%.
  • Rio Tinto: was trading at 6720.00p, down 0.83%.
  • Unilever: was trading at 4887.00p, down 0.58%.

Risers

  • HSBC: was trading at 1430.00p, up 0.62%.
  • BP: was trading at 612.20p, up 0.28%.
  • Shell: was trading at 3916.50p, up 0.22%.

Barclays (432.55p, +0.03%) and Rolls-Royce (1361.80p, -0.07%) were little changed. Among the banks we track, moves were mixed.

In the news

  • Bank tax speculation: Headlines this morning report that bank shares dropped on speculation that the Chancellor may raise the surcharge banks pay on their profits in the upcoming Budget. The reports did not name individual lenders.
  • Oil and the Middle East: Several reports said Middle East tensions were keeping oil prices elevated. They also said the FTSE 100 drifted slightly lower in early trade before recovering.
  • AstraZeneca: One headline reports that Citi has raised its price target for AstraZeneca. Broker targets are opinions, not forecasts you can rely on.
  • Mid-caps: A live markets report noted the FTSE 250 outperforming as European stocks recovered from the previous session's tech sell-off.

In summary, it was a quiet midday session for the FTSE 100, with mid-caps and sterling firmer and bank shares in focus ahead of the Budget.

Figures are indicative and may be delayed. This is general information, not advice.

This content is general information, not personal financial advice. Tax rules, rates and allowances can change; check the latest position on gov.uk.