FTSE 100 closes at 10,771.49 after rate decision reversal
Published on 11/05/2026 at 18:44 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSFTSE 100 reverses early gains
- The FTSE 100 closed at 10,771.49 points on November 5, down 0.53% from the previous session.
- Bank shares initially supported the index ahead of the Bank of England's rate decision.
- The BoE raised Bank Rate to 4% in an 8-1 vote, while the index retreated from its intraday high.
The FTSE 100 closed at 10,771.49 points on Thursday, November 5, 2026, down 57.72 points, or 0.53%, from Wednesday's close of 10,829.21. The index had opened higher and reached an intraday peak of 10,948.24 before giving back its gains.
The closing figures were reported by MT Newswires. The index represents the 100 most highly capitalised blue-chip companies listed on the London Stock Exchange, according to LSEG.
Banks support the opening
London equities began Thursday on a firm footing after Wall Street rallied following the US midterm elections. Domestic banks were among the main early supports as investors positioned for an expected increase in UK borrowing costs. BT Group and Diageo also featured among the notable early risers, while defence shares and energy stocks lagged, according to AJ Bell.
Rate hike changes the tone
The Bank of England raised Bank Rate by 25 basis points to 4% from 3.75%, marking its first increase since 2023. The decision passed by eight votes to one, with Catherine Mann preferring a 50-basis-point increase. The move was widely expected, but the more hawkish voting pattern and continuing inflation concerns changed the tone of the session. MT Newswires said the FTSE 100 finished 0.53% lower after the decision.
The retreat followed a strong Wednesday session, when the index gained 1.79% to 10,829.21. Openbook Analytics attributed that earlier advance to a combination of bank gains ahead of the rate decision, a weaker dollar that supported precious-metals miners, and pressure on defence stocks after the US election result.
For investors, Thursday's performance underlined the index's sensitivity to both domestic rate expectations and the international earnings, currency and commodity exposures of its constituents. The close was lower than the previous session, although the index remained well above its level before Wednesday's rally. Further market coverage is available on the FTSE 100 topic page.
