London close: Stocks hit four-week low as sell-off continues
By Benjamin Chiou
Date: Tuesday 18 Nov 2025
(Sharecast News) - UK stocks dropped sharply on Tuesday to finish at a four-week low, as rising concerns about stretched valuations in the tech sector - an industry that has driven many global equity markets to record highs this year - weighed heavily on investor sentiment.
The FTSE 100 finished 1.3% lower at 9,552.30, its fourth day in the red, with falls in the heavyweight banking and mining sectors dragging the benchmark low.
The index has now slumped 3.6% since hitting a closing record high of 9,911.42 on 12 November, falling to its lowest finish since 23 October.
"Even before investors get a chance to sample the week's big news, markets are showing signs of strain," said Danni Hewson, head of financial analysis at AJ Bell.
Hewson was referring to two key risk events in the coming days: American semiconductor giant Nvidia's third-quarter results on Wednesday evening and the delayed September non-farm payrolls report due on Thursday.
"It almost feels like whiplash to have been discussing the potential for the FTSE 100 to hit the 10,000 mark last week when this week it seems to be doing its best to slump back towards its previous milestone. Nerves are palpable and by the end of the week we might have a good sense of whether the year will end with a bang or a pop."
Banking and mining stocks provide a drag
Banking and mining stocks were bearing the brunt of the reduction in risk appetite as macro concerns intensified. Heavily-weighted miners Anglo American, Antofagasta and Glencore were all weaker, along with banking peers HSBC, Standard Chartered, Barclays and NatWest.
Going the other way, ICG surged to the top of the index after French asset manager Amundi agreed to take a near 10% in its British rival. The news came alongside the company's interim numbers, which showed a 6% uplift in fee-earning assets under management, to $84bn.
Imperial Brands rose as it posted an uplift in sales and earnings, supported by higher prices and growing demand for the tobacco group's range of next general products. British American Tobacco also gained.
On the FTSE 250, Ocado shares tumbled 17% after it said the closure of three customer fulfilment centres in US partner Kroger's live network will reduce its FY26 revenues by around $50m (£38m).
FirstGroup dropped 9% after it reported a sharp rise in first-half net debt and said it expects "modest" growth in adjusted earnings per share in FY 2026.
Elsewhere, housebuilder Crest Nicholson tanked 15% as it said that full-year profits would miss previous guidance, pinning the blame on a subdued housing market and uncertainty surrounding government tax policy ahead of the Autumn Budget.
Market Movers
FTSE 100 (UKX) 9,552.30 -1.27%
FTSE 250 (MCX) 21,424.81 -1.21%
techMARK (TASX) 5,484.27 -0.91%
FTSE 100 - Risers
ICG (ICG) 1,973.00p 4.45%
Imperial Brands (IMB) 3,229.00p 2.41%
Tesco (TSCO) 441.10p 0.82%
Smurfit Westrock (DI) (SWR) 2,580.00p 0.58%
Diploma (DPLM) 5,290.00p 0.57%
Centrica (CNA) 167.10p 0.51%
Rightmove (RMV) 553.00p 0.47%
Informa (INF) 909.60p 0.33%
Compass Group (CPG) 2,450.00p 0.25%
Unilever (ULVR) 4,471.00p 0.11%
FTSE 100 - Fallers
Melrose Industries (MRO) 602.00p -3.90%
Antofagasta (ANTO) 2,637.00p -3.69%
3i Group (III) 3,276.00p -3.62%
Convatec Group (CTEC) 230.60p -3.60%
HSBC Holdings (HSBA) 1,056.00p -3.42%
Ashtead Group (AHT) 4,632.00p -2.79%
Barclays (BARC) 399.80p -2.68%
WPP (WPP) 311.70p -2.62%
Diageo (DGE) 1,731.50p -2.59%
Anglo American (AAL) 2,722.00p -2.58%
FTSE 250 - Risers
Bakkavor Group (BAKK) 225.00p 2.97%
Pollen Street Group Limited (POLN) 894.00p 1.13%
ICG Enterprise Trust (ICGT) 1,486.00p 1.09%
Foresight Solar Fund Limited (FSFL) 71.00p 0.71%
Johnson Service Group (JSG) 135.00p 0.60%
Rank Group (RNK) 109.20p 0.55%
Currys (CURY) 127.80p 0.55%
Cranswick (CWK) 4,885.00p 0.51%
Pets at Home Group (PETS) 203.60p 0.49%
Just Group (JUST) 214.00p 0.47%
FTSE 250 - Fallers
Ocado Group (OCDO) 179.90p -17.40%
FirstGroup (FGP) 181.80p -9.28%
Ceres Power Holdings (CWR) 345.00p -7.56%
Wizz Air Holdings (WIZZ) 1,015.00p -5.23%
Hays (HAS) 55.95p -3.95%
PPHE Hotel Group Ltd (PPH) 1,816.00p -3.81%
Raspberry PI Holdings (RPI) 314.00p -3.74%
Trainline (TRN) 250.20p -3.70%
Baillie Gifford Japan Trust (BGFD) 881.00p -3.61%
Oxford Nanopore Technologies (ONT) 123.60p -3.21%
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