FTSE 100 stock movers, inflation, mortgage rates and oil latest

Declines by Barclays (LSE:BARC), Rolls-Royce Holdings (LSE:RR.) and AstraZeneca (LSE:AZN) today contributed to another weak session for the FTSE 100 index as oil price volatility resumed after yesterday’s respite.

The blue-chip benchmark reached mid-afternoon down by 50.22 points at 10,362.02, having fallen as far as 10,293 after Brent crude topped $92 a barrel earlier in the day.

The commodity later settled near $90 as heightened fears of prolonged disruption to shipping in the Strait of Hormuz were countered by plans for a record release of emergency oil reserves.

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Pre-crisis inflation figures for the US economy also helped sentiment after headline CPI rose in line with expectations by 2.4% in the year to February.

The S&P 500 index, which has weathered the volatility to stay within 3% of its record high set on 27 January, opened in positive territory this afternoon.

In contrast, the FTSE 100 index extended the decline from 10,910 seen prior to the start of the war although it remains higher than where it started the year.

Some of the stocks behind February’s advance to a series of record highs came under pressure.

AstraZeneca dropped 206p to 14,448p - compared with 15,542p on 27 February - while Barclays reversed 5.35p to 412.45p to stand 18% below its level early last month.

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Having risen 5% since the war started, BAE Systems (LSE:BA.) shares today fell by 39p to 2210p alongside weaker sessions for the fellow defence firm Babcock International Group (LSE:BAB) and Rolls-Royce.

Sentiment towards UK-focused stocks was dealt a further blow by evidence of the impact of energy market disruption on the cost of living.

RAC Fuel Watch reported a UK-wide unleaded price of 138.96p a litre and 155.12p for diesel, representing increases of 6.12p and 12.74p since the war started.

Higher interest rate expectations also meant the average Moneyfacts mortgage rate opened today at 5.04%, up from 4.91% on Friday and the highest level since early August. It also reported the biggest fall in product availability since the mini-Budget in 2022.

The repricing by lenders dealt a blow to hopes of further progress for Persimmon (LSE:PSN) shares after yesterday’s results-day recovery, while Barratt Redrow (LSE:BTRW) also traded slightly lower. Other fallers included Marks & Spencer Group (LSE:MKS) and B&Q owner Kingfisher (LSE:KGF).

Investors will be hoping that the plan by the International Energy Agency (IEA) to release 400 million barrels of oil from emergency reserves will help to keep a lid on oil prices.

IEA members hold emergency stockpiles of over 1.2 billion barrels, with a further 600 million barrels of industry stocks held under government obligation.

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The coordinated stock release is the sixth in the history of the IEA, which was created in 1974. Previous collective actions were taken in 1991, 2005, 2011, and twice in 2022.

An average of 20 million barrels per day of crude oil and oil products passed through the Strait of Hormuz in 2025, or around 25% of the world’s seaborne oil trade.

Options for oil flows to bypass the strait are limited, while the Gulf region’s output of liquefied natural gas (LNG) has also been significantly impacted.

Nearly 50 oil and gas tankers passed through the strait on a daily basis in February but that has dropped to between one and two so far in March, according to UBS.

Capital Economics said: “A record-breaking release of emergency oil reserves could cushion a lack of supply from the Middle East and provide some relief to oil prices.

“However, this would prove temporary with prices likely to rise back above $100 a barrel if the Strait of Hormuz were to remain effectively closed for a prolonged period.”