London midday: FTSE rallies but Asos tumbles on reports of cyber hack

6th Oct 2026 11:05

(Sharecast News) - London stocks were still in the black by midday, having taken their cue from a solid session on Wall Street, where the Nasdaq hit a closing high, as investors mulled the latest reading on the UK construction sector.

The FTSE 100 was 0.6% firmer at 10,558.71, while Brent crude was down 2.2% at $98.07 a barrel and West Texas Intermediate was 2.1% lower at $87.48.

Dan Coatsworth, head of markets at AJ Bell, said: "The FTSE 100 enjoyed broad-based gains, with only the energy sector in the red.

"Brent crude oil fell back below $100, much to the relief of the market. This gave a boost to interest-rate sensitive stocks including real estate and consumer cyclicals. Investors are praying that inflationary pressures start to ease off and central banks have less of a need to keep interest rates higher for longer.

"Borrowing costs eased on 10- and 30-year UK and US government bond yields, albeit remaining at elevated levels relative to the past decade or so. US Fed meeting minutes published tomorrow should give investors a better picture of what's going through the mind of the central bank in the wake of a resilient economy and energy price pressures."

On the macro front, a survey showed the downturn in the UK construction sector eased somewhat in September.

The S&P Global purchasing managers' index for the sector ticked up to 46.1 from 44.3 in August. This was still well below the 50.0 level that separates expansion from contraction but marked the slowest fall in construction output since January.

Slower rates of contraction were seen in the residential, commercial and civil engineering segments. Meanwhile, commercial construction was the most resilient, with business activity falling only marginally and at the weakest pace since May 2025.

Housing activity remained the worst-performing area of the construction sector, with many survey respondents linking lower output to sluggish market conditions due to geopolitical tensions and elevated borrowing costs.

In equity markets, Informa surged as it announced the acquisition of event and exhibition organiser Clarion from private equity firm Blackstone for £2.24bn, and said it was planning to separate its academic business, Taylor & Francis, to focus on its core B2B business.

Chief executive Stephen A. Carter said: "The combination will underscore Informa as the UK-listed, international leader in B2B Live Events, with annual group revenues exceeding $6bn and underlying revenue growth of 7%."

Elsewhere, shipping broker Clarksons shot up as it said it expects full-year earnings of at least £135m, citing Iran war-related volatility.

Telecom Plus rose after saying it delivered encouraging early progress against its new five‑year growth plan and reiterating FY27 guidance for adjusted pre-tax profit of between £80m and £90m.

On the downside, Asos shares tumbled after users reported receiving a mobile app notification indicating a possible cyber hack.

Market Movers

FTSE 100 (UKX) 10,558.71 0.58%

FTSE 250 (MCX) 24,245.01 0.50%

techMARK (TASX) 6,167.91 0.31%

FTSE 100 - Risers

Informa (INF) 890.60p 3.32%

Weir (WEIR) 2,662.00p 3.10%

Croda International (CRDA) 3,388.00p 2.76%

Antofagasta (ANTO) 3,935.00p 2.55%

Marks & Spencer Group (MKS) 385.90p 2.55%

Burberry Group (BRBY) 1,028.50p 2.49%

Whitbread (WTB) 2,482.00p 2.43%

AstraZeneca (AZN) 12,048.00p 2.38%

Experian (EXPN) 2,526.00p 2.27%

Spirax Group (SPX) 7,445.00p 2.27%

FTSE 100 - Fallers

Ithaca Energy (ITH) 274.40p -2.63%

BAE Systems (BA.) 1,886.00p -2.40%

3i Group (III) 2,366.00p -2.07%

BP (BP.) 553.70p -1.65%

M&G (MNG) 308.60p -1.59%

IG Group Holdings (IGG) 972.00p -1.37%

Babcock International Group (BAB) 914.60p -1.27%

Abrdn (ABDN) 238.80p -1.16%

Rolls-Royce Holdings (RR.) 1,468.00p -0.68%

Hiscox Limited (DI) (HSX) 1,840.00p -0.59%

FTSE 250 - Risers

Clarkson (CKN) 5,355.00p 5.84%

Oxford Nanopore Technologies (ONT) 231.40p 5.18%

Ocado Group (OCDO) 266.80p 3.89%

Telecom Plus (TEP) 855.00p 3.76%

HGCapital Trust (HGT) 387.00p 3.75%

Man Group (EMG) 333.00p 3.73%

Domino's Pizza Group (DOM) 220.20p 3.67%

Bridgepoint Group (Reg S) (BPT) 344.00p 3.48%

IP Group (IPO) 72.30p 2.99%

CVS Group (CVSG) 1,182.00p 2.78%

FTSE 250 - Fallers

ASOS (ASC) 454.00p -9.56%

Inchcape (INCH) 694.00p -5.13%

Chemring Group (CHG) 507.50p -4.42%

QinetiQ Group (QQ.) 455.60p -4.08%

Energean (ENOG) 694.00p -2.46%

Ceres Power Holdings (CWR) 406.00p -2.17%

RHI Magnesita N.V. (DI) (RHIM) 2,820.00p -2.08%

Hochschild Mining (HOC) 524.00p -1.87%

Paragon Banking Group (PAG) 702.50p -1.75%

Seraphim Space Investment Trust (SSIT) 197.60p -1.69%