Best and worst FTSE 100 stocks in Q3 2026
There were some big blue-chip winners over the summer months but significant losers too. City writer Graeme Evans also looks at the quarter’s best global stock markets.
1st October 2026 13:33
by Graeme Evans from interactive investor
Big upsides for BP (LSE:BP.), Shell (LSE:SHEL) and Vodafone Group (LSE:VOD) offset the retreat of AstraZeneca (LSE:AZN) and Barclays (LSE:BARC) as the FTSE 100 index ended a turbulent quarter off the pace of a resurgent FTSE 250 index.
The blue-chip benchmark rose by 1% to 10,606 in the three months from July to September, with the intraday record of 10,989 set on 31 July followed by a softer August and 2% decline in September.
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The FTSE 250 index dropped 1.6% last month but still grew 6.6% over the quarter as investors returned to heavily sold stocks such as Hays (LSE:HAS) and WPP (LSE:WPP), or benefited from takeover action.
The mid-cap performance, which featured a record high at the end of August, was better than quarterly gains of 2.5% for the Nasdaq Composite and 2% rise for the S&P 500 index. In fact, only Brazil and Hong King did better.
Top 10 stock markets in Q3
| Market | Price | Q3 | Sep | Since Iran war | 2026 | 1 year |
| Bovespa Stock Index (Brazil) | 186,340 | 8.3 | 5.0 | 3.9 | 15.6 | 28.1 |
| Hang Seng (Hong Kong) | 24,613 | 7.6 | -3.7 | -7.6 | -4.0 | -8.4 |
| FTSE 250 | 24,540 | 6.6 | -1.6 | 3.3 | 9.2 | 11.3 |
| NASDAQ Composite | 26,861 | 2.5 | 1.9 | 18.5 | 15.6 | 18.0 |
| S&P 500 | 7,652 | 2.0 | -0.5 | 11.2 | 11.8 | 14.0 |
| FTSE AIM All-Share | 787 | 2.0 | -2.9 | -3.9 | 2.8 | 0.1 |
| FTSE All-Share | 5,728 | 1.7 | -2.0 | -2.1 | 7.1 | 12.1 |
| FTSE 350 | 5,790 | 1.6 | -2.0 | -2.2 | 7.0 | 12.1 |
| FTSE 100 | 10,606 | 1.0 | -2.0 | -2.8 | 6.8 | 12.3 |
Source: ShareScope, 30 September 2026.
Wall Street’s latest all-time highs were driven by the Magnificent Seven as mega-cap stocks including NVIDIA Corp (NASDAQ:NVDA) and Microsoft Corp (NASDAQ:MSFT) contributed to an 11.1% rise in total return terms.
The resilience of US benchmarks continued during September, even though global borrowing costs surged due to inflation pressures caused by the re-escalation of the Iran-US war.
Brent crude oil jumped by 42% in the quarter, while European natural gas futures lifted 67% and agricultural commodities including wheat, corn and sugar rose by between 16% and 23%.
The subsequent global bond sell-off sent the US 10-year Treasury yield up by the most since September 2022 and for seven consecutive months for the first time since 2011.
Deutsche Bank said: “It wasn’t all bad news, as global growth and earnings were very resilient.
“But that only added to interest rates pressure and gave central banks the space to turn more hawkish, with the Federal Reserve, European Central Bank and Bank of Japan all hiking again in September.”
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In the FTSE 100, the spike in government bond yields diminished the appeal of higher-yielding defensive stocks such as those in the tobacco sector.
Imperial Brands (LSE:IMB) and British American Tobacco (LSE:BATS) fell by 12% in the quarter, while the same factor added to pressure on British Land Co (LSE:BLND) and Land Securities Group (LSE:LAND) after falls of 6.5% and 9% in September.
The quarter’s biggest downward pressure came from the FTSE 100’s second-largest stock after AstraZeneca shares declined by 13%.
They were a record 15,500p in February, only to fall to 11,650p by early September due to late-stage drug trial setbacks and speculation of merger talks with Bristol-Myers Squibb Co (NYSE:BMY).
Astra ended the quarter at 12,280p as investors welcomed plans for a clinical collaboration and $2 billion investment into Nasdaq-listed Summit Therapeutics Inc Ordinary Shares (NASDAQ:SMMT).
Barclays was the worst performer in a mixed quarter for the banking sector as its exposure to the US economy and softer period of investment banking activity fuelled a 9.7% decline. This included September’s 7.9% reverse in a month when the Federal Reserve hiked interest rates.
Lloyds Banking Group (LSE:LLOY) fell 3.8% whereas UK peer NatWest Group (LSE:NWG) rose 3.2% and Asia-focused HSBC Holdings (LSE:HSBA) and Standard Chartered (LSE:STAN) outperformed through gains of 4.7% and 12.6% respectively.
FTSE 100 worst performers in Q3
| Name | Price | Q3 | Sep | Since Iran war | 2026 | 1 year | Forward yield (%) | Forward PE |
| Rentokil Initial (LSE:RTO) | 297.2p | -30.3 | -14.0 | -34.9 | -33.6 | -21.3 | 3.3 | 14.0 |
| IG Group Holdings (LSE:IGG) | 1325p | -27.1 | -5.4 | 1.8 | 0.8 | 24.1 | 3.7 | 10.1 |
| Games Workshop Group (LSE:GAW) | 17990p | -16.7 | -2.3 | 0.6 | -4.9 | 26.7 | 2.9 | 29.1 |
| Centrica (LSE:CNA) | 147.7p | -13.5 | -5.0 | -25.8 | -12.9 | -13.5 | 4.1 | 12.8 |
| AstraZeneca (LSE:AZN) | 12280p | -12.9 | 2.6 | -21.0 | -10.9 | -1.3 | 2.1 | 15.9 |
| Imperial Brands (LSE:IMB) | 2445p | -12.3 | -3.2 | -26.5 | -21.6 | -20.9 | 6.8 | 7.3 |
| St James's Place (LSE:STJ) | 1063.5p | -12.2 | -10.3 | -21.2 | -23.2 | -16.8 | 2.2 | 12.5 |
| British American Tobacco (LSE:BATS) | 4129p | -11.7 | 0.0 | -11.0 | -2.0 | 5.7 | 6.1 | 11.5 |
| Coca-Cola HBC AG (LSE:CCH) | 4354p | -11.5 | -4.7 | -9.5 | 13.3 | 28.3 | 2.6 | 17.5 |
| Halma (LSE:HLMA) | 3502p | -11.0 | -3.6 | -16.3 | -1.0 | 1.2 | 0.8 | 26.3 |
Source: ShareScope, 30 September 2026. Past performance is not a guide to future performance.
Miners also experienced contrasting fortunes, with Endeavour Mining (LSE:EDV) the best of the bunch after the price of gold rallied during July and much of August. Its shares ended the quarter up by 14.6%, which includes a decline of 10.5% in September.
Among the diversified miners, Glencore (LSE:GLEN) rose 8.1% in the quarter but fell 6.8% in the last month amid a combination of macroeconomic, coal price and governance concerns. Rio Tinto Ordinary Shares (LSE:RIO) ended the quarter flat after falling by 7.5% in September.
Last month’s weaker FTSE 100 index sentiment was reflected in the performance of Next (LSE:NXT), which dropped by 5% even though half-year results included another upgrade to profit guidance. Marks & Spencer Group (LSE:MKS) fell 2.7% in September but rose 3.7% in the quarter.
The quarter’s worst-performing blue chip was Rentokil Initial (LSE:RTO), which slumped 30% after chief executive Mike Duffy retired a North America margin target of 20%.
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The need to focus on the top line was highlighted by July’s disclosure of second-quarter revenues growth in North America pest control of 2.4%, a slowdown from 2.8% in the first quarter. Shares lost 14% in September to end the period worth less than 300p for the first time in eight years.
At the other end of the FTSE 100 index, Shell returned to record territory after a 21.7% rise to 3,569.5p and BP lifted 17.6p to 549.4p.
Their shares had started the third quarter back at pre-war levels after Brent crude followed its biggest price jump since 1990 with its biggest quarterly decline since the pandemic. The price peaked at $108 a barrel in September, resulting in share price gains of 7% in the month.
The oil heavyweights were joined by high-yielding Ithaca Energy Ordinary Share (LSE:ITH), which surged 26.5% during the quarter to secure a place in the FTSE 100.
FTSE 100 best performers in Q3
| Name | Price | Q3 | Sep | Since Iran war | 2026 | 1 year | Forward yield (%) | Forward PE |
| Lion Finance Group (LSE:BGEO) | 14370p | 26.8 | 7.1 | 23.6 | 54.5 | 87.5 | 2.5 | 9.0 |
| Ithaca Energy Ordinary Share (LSE:ITH) | 274.4p | 26.5 | -0.4 | 23.6 | 65.5 | 37.8 | 8.4 | 11.8 |
| Computacenter (LSE:CCC) | 5405p | 26.5 | -4.7 | 70.3 | 84.5 | 102.0 | 1.9 | 20.9 |
| Vodafone Group (LSE:VOD) | 122.7p | 23.2 | 3.6 | 7.2 | 24.1 | 42.3 | 3.4 | 13.3 |
| Shell (LSE:SHEL) | 3569.5p | 21.7 | 6.7 | 16.1 | 30.3 | 33.2 | 3.3 | 8.1 |
| easyJet (LSE:EZJ) | 677.6p | 21.3 | 0.5 | 46.0 | 32.7 | 46.6 | 1.0 | 55.1 |
| Sage Group (The) (LSE:SGE) | 971.4p | 19.0 | -11.0 | 18.2 | -10.3 | -11.1 | 2.4 | 19.5 |
| Metlen Energy & Metals (LSE:MTLN) | 4900¢ | 18.9 | -0.8 | 37.8 | 10.9 | 4.3 | 3.3 | 11.5 |
| Barratt Redrow (LSE:BTRW) | 332.2p | 18.2 | 4.4 | -9.0 | -12.8 | -15.5 | 0.3 | 14.3 |
Source: ShareScope, 30 September 2026. Past performance is not a guide to future performance.
In contrast, the high oil price left British Airways owner International Consolidated Airlines Group SA (LSE:IAG) 8.3% lower and stalled the progress of Rolls-Royce Holdings (LSE:RR.), which edged up 1.2% in the quarter.
Other landmarks during the period included a four-year high for Vodafone, which continued its recovery with a rise of 23% to 122.7p. The progress, which contrasted with a 1% rise by BT Group (LSE:BT.A), was aided by French billionaire Xavier Niel becoming Vodafone’s largest shareholder.
The depressed valuations of Britain’s housebuilders drew plenty of interest during the quarter as Barratt Redrow (LSE:BTRW) rose 18% and Persimmon (LSE:PSN) by 25%.
A big chunk of the gains came at the end of the quarter after prime minister Andy Burnham promised a new home loan scheme to help first-time buyers get on the property ladder.
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Persimmon jumped by 15% in Monday’s session and by 12% across September, although the rally came too late to save its FTSE 100 status in last month’s quarterly reshuffle.
Its shares are down 3% so far in 2026, while Barratt Redrow is down 12.8% as the FTSE 100’s last remaining housebuilder.
Computacenter (LSE:CCC), which joined the FTSE 100 for the first time in June’s reshuffle, marked its blue-chip status by adding another 24.5% in the third quarter.
This took into account July’s latest upgrade to profit guidance as the IT services firm continues to reap the benefit of strong volume growth among US-based hyperscale customers.
The company, which was founded in 1981, leads the FTSE 100 in terms of 2026 performance after posting growth of 84% so far this year. Other strong performers include the Georgia-based lender Lion Finance Group (LSE:BGEO), which is up 54.5% this year after a third quarter jump of 27%.
Mid-cap winners
In the FTSE 250, recruitment firms Hays (LSE:HAS) and Michael Page (LSE:PAGE) doubled their value in the quarter.
Their rebound followed June’s multi-year lows, which were caused by fresh hiring uncertainty due to the Middle East war and fears that AI could structurally challenge business models.
Hays fell back 18% in September but is still 12% higher for the year to date, whereas Page is 10% cheaper than its January starting point.
Other stocks on the recovery trail included WPP (LSE:WPP), which jumped 60% to secure a return to the FTSE 100 index as one of the replacements for acquired companies Schroders (LSE:SDR) and Beazley (LSE:BEZ).
Takeover action played a big part in the robust performance of the FTSE 250 index as stocks including Rotork (LSE:ROR), Pinewood Technologies Group (LSE:PINE), MITIE Group (LSE:MTO) and Bodycote (LSE:BOY) rose by between 38% and 68% in the quarter.
FTSE 250 best performers in Q3
| Name | Price | Q3 | Sep | Since Iran war | 2026 | 1 year | Forward yield (%) | Forward PE |
| Hays (LSE:HAS) | 63.25p | 103.0 | -17.7 | 55.9 | 12.3 | 10.8 | 1.0 | 34.3 |
| Michael Page (LSE:PAGE) | 210.2p | 97.7 | -5.3 | 12.2 | -10.7 | -8.3 | 2.6 | 43.6 |
| Oxford Nanopore Technologies (LSE:ONT) | 217.6p | 75.3 | 23.6 | 63.5 | 69.5 | 38.4 | ||
| Pinewood Technologies Group (LSE:PINE) | 446p | 67.7 | -1.3 | 53.0 | 24.6 | 8.3 | 53.9 | |
| Rotork (LSE:ROR) | 489p | 65.5 | 0.8 | 26.7 | 50.3 | 44.1 | 1.7 | 27.7 |
| Victrex (LSE:VCT) | 923p | 60.5 | 9.8 | 30.6 | 40.9 | 29.5 | 6.5 | 22.3 |
| Kainos Group (LSE:KNOS) | 1225p | 59.7 | -1.8 | 62.3 | 22.0 | 30.1 | 2.6 | 23.3 |
| WPP (LSE:WPP) | 376.1p | 59.5 | -1.7 | 36.8 | 11.4 | 1.4 | 4.0 | 7.1 |
| Harworth Group (LSE:HWG) | 187p | 55.8 | 5.8 | 6.0 | 12.0 | 9.7 | 1.0 | 15.8 |
| CMC Markets (LSE:CMCX) | 668p | 45.9 | -8.7 | 106.0 | 123.0 | 182.0 | 3.8 | 11.2 |
Source: ShareScope, 30 September 2026. Past performance is not a guide to future performance.
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