11:48 AM EDT, 10/01/2026 (MT Newswires) -- British equities closed Thursday trading deep in the red, with the FTSE 100 down 1.64%, amid a global bond selloff as the UK 30-year gilt yields reached 6% for the first time since 1998. Annual house-price growth slowed to a nine-month low of 0.8% in September from 1.6% in August, according to data from the Nationwide Building Society. The reading was below the consensus estimate of 1.3% growth. On a monthly basis, seasonally adjusted house prices were 0.2% lower, reversing the 0.2% increase earlier amid expectations of stable rates. "Market activity and house prices have remained subdued in recent months, in part reflecting the uncertain economic backdrop. Geopolitical tensions remain high, with the conflict in the Middle East exerting upward pressure on energy prices, fanning inflation concerns. This in turn has led to mounting financial market expectations of Bank Rate increases, which has maintained upward pressure on the market interest rates which underpin mortgage pricing," said Nationwide Chief Economist Robert Gardner. In manufacturing, production improved in September at the slowest rate in the current six-month expansion streak. Still, final S&P Global UK Manufacturing PMI edged up to 51.9 from the previous month's 51.7, as output, new orders and employment all climbed. The final reading was slightly below the flash estimate of 52, S&P Global said Thursday. "The big shift in September was in the survey's price measures, which switched from signalling a decline in inflationary pressures to a renewed uplift. After hitting conflict-driven highs earlier in the year, rates of increase in both input costs and factory gate selling prices accelerated for the first time since May. Energy and electronics prices remain especially elevated, while supply disruptions and rising diesel prices are now hitting transportation costs across industry. These price moves will be closely watched by the Bank of England for any signs of a more sustained and broader price uplift potentially taking hold," S&P Global Market Intelligence Director Rob Dobson said. In corporate news, Land Securities Group (LAND.L), d/b/a Landsec, agreed to acquire the Metrocentre shopping center in Gateshead, UK, from Tynehawk Holdings (Jersey) for 516 million pounds sterling. To fund the acquisition, the real estate company will raise 500 million pounds via a placing, retail offer and subscription of shares. Its stock fell 3.20%. SSE plc (SSE.L), down 0.52%, affirmed its adjusted EPS guidance for fiscal 2027 and fiscal 2030, citing "continued strong delivery" across its networks. The British utility expects adjusted EPS of 1.68 pounds to 1.93 pounds for fiscal 2027 and between 2.25 pounds and 2.50 pounds for fiscal 2030.

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