FTSE 100 round-up: M&S, miners, NatWest, Lloyds Bank, Barclays
There are plenty of risers and fallers in the blue-chip index this session as stocks react to data and commodity prices. City writer Graeme Evans names there here.
16th September 2026 13:51
by Graeme Evans from interactive investor
Aerial view of metal ore mining. Credit: su ming/iStock.
Marks & Spencer today slumped to a three-month low at the foot of the FTSE 100 index after inflation figures dampened retail stocks but aided banks including NatWest Group (LSE:NWG).
Marks & Spencer Group (LSE:MKS) shed 17p to 358.6p, which compares with more than 400p at the start of August, after the industry’s margin outlook was dented by the release of official figures showing that clothing and footwear prices grew by 0.2% in August.
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The Office for National Statistics (ONS) also said the rate for food and non-alcoholic beverages was 1.3%, unchanged from July and last lower in September 2021.
The figures follow a testing summer for listed grocery retailers, reflecting a combination of shallower volumes, higher fuel, freight and input costs and continued regulatory headwinds.
Tesco (LSE:TSCO) shares today drifted 5.2p to 474.3p, having traded above 500p at the end of July, while Sainsbury (J) (LSE:SBRY)’s weakened 4.2p to 332.3p.
More details on trading conditions are due when Tesco posts interim results on 8 October, followed by Sainsbury’s on 22 October and M&S on 4 November.
A big upward contribution from motor fuels lifted August’s overall headline inflation rate from 2.9% to 3.1%, with City economists braced for higher energy bills to result in a further rise to 3.6% in September and a peak of 4.2% by January.
Capital Economics said the most striking aspect of today’s figures was the absence of any obvious spillover from higher energy prices to other items.
The consultancy added: “It’s still too early for any ‘second-round’ inflation effects to show up, but it’s telling that there have hardly been any ‘first-round’ inflation effects. For example, food & drink inflation stayed at 1.3%.”
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Today’s report is unlikely to prompt the Bank of England to hike interest rates at tomorrow’s conclusion of its latest policy meeting.
However, Capital Economics is a little more nervous about its forecast that continued weakness in the labour market will enable the Bank to keep rates at 3.75% for the foreseeable future.
The expectations of higher-for-longer interest rates boosted the margin outlook of UK lenders as NatWest rose 11.6p to 700.8p and Lloyds Banking Group (LSE:LLOY) improved 1.7p to 110.6p.
Barclays (LSE:BARC) rose 7.55p to 477.85p after UBS reiterated its price target of 600p and said a valuation multiple of 7.2 times forecast 2027 earnings was too cheap compared with the company’s US investment banking peer group on between 13.9 and 15 times earnings.
Other risers in the FTSE 100 index included precious metals-focused Fresnillo (LSE:FRES), Endeavour Mining (LSE:EDV) and Antofagasta (LSE:ANTO) after the price of gold climbed back above $4,300 an ounce.
The FTSE 100 edged higher to trade near 10,700, which reflected expectations for a steady session by the S&P 500 index ahead of tonight’s US Federal Reserve policy decision.
Wall Street sees a 94% chance of the first rate hike since 2023, a prospect that contributed to last night’s six-week low for the S&P 500 index.
Elsewhere in the FTSE 100, Warhammer hobby firm Games Workshop Group (LSE:GAW) edged up 30p to 17,740p after it signalled more strong trading through the declaration of a 70p a share dividend. The shares have fallen sharply since peaking at nearly 22,000p in late June.
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The payment planned for 27 November takes dividends announced so far in relation to the 2026-27 financial year to 300p, up from 225p at the same stage of 2025-26.
Broker Peel Hunt, which has a price target of 22,000p, said that the uplift showed the strength of profit conversion to cash as the company only pays dividends “out of truly surplus capital”.
The City firm added that statistics on the health of the hobby were encouraging and that a trailer for June’s release of the 11th edition of Warhammer 40,000: Armageddon had been viewed two million times on YouTube and more than five million across all platforms.
It noted that trading has been in line with expectations in a year when Games Workshop faced a £8 million step-up in US tariffs: “The company delivered a strong performance in 2025-26 and looks well set for another good year.”
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