FTSE 100 on track for worst run in nine months amid election volatility – latest


The FTSE 100 is on track for its worst run in nine months amid a sell-off of blue chip utilities and gaming giant Flutter.

The index was on course to suffer its fifth consecutive daily fall on Tuesday, which analyst pinned on election-related volatility.

The City’s blue chip stocks were down 0.3pc at midday at around 8,291 and heading towards their longest run of daily falls since August 2023.

Among those dragging the index down were utility groups including Severn Trent and United Utilities amid an ongoing crisis in the water sector. 

Shares in Flutter have also fell on Tuesday by 4.8pc as it faces the prospect of a tax hike in the US. However, shares in online grocery retailer Ocado climbed more than 8pc, bucking the falls across the rest of the market.

As Rishi Sunak and Sir Keir Starmer head out on the campaign trail, Guy Lawson-Johns, an equity analyst at Hargreaves Lansdown, said: “Last week’s election announcement is causing some short-term volatility in the markets.”

The FTSE is down around 1.5pc since closing at a record high of 8,445.80 on May 15.

Read the latest updates below.


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