{"id":132158,"title":"UK stocks fall at the open, as expected","publisher":"Share Talk","author":"sharetalk","published":"2026-02-02T08:22:27+00:00","modified":"2026-02-02T08:22:27+00:00","canonical_url":"https://www.share-talk.com/uk-stocks-fall-at-the-open-as-expected/","markdown_url":"https://www.share-talk.com/uk-stocks-fall-at-the-open-as-expected.md","json_url":"https://www.share-talk.com/uk-stocks-fall-at-the-open-as-expected.json","category":"Blogs","categories":["Blogs","Business & Support Services","Technology","Technology, Media & Telecoms"],"tags":["Denmark","Endeavour Mining","Fed","Federal Reserve","Finland","FRANCE","FTSE 100","GERMANY","Glencore","Greenland plan","mining stocks","Nasdaq Composite","NATO alliance","Netherlands","Norway","S&P 500","Sweden","UK","United States","Wall Street"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2026/02/9c95fc39-1ef4-4937-a223-2027f1d54e21.webp?fit=1200%2C800&quality=80&ssl=1","format":"news","language":"en-GB","content":"The **FTSE 100** fell sharply at the open, dropping 58 points, or 0.57%, to 10,167 as the sell-off across commodities fed through to UK equities.\n\nPrecious metals producers were among the hardest hit. **Endeavour Mining** slumped 11%, tracking the collapse in gold and silver prices, while **Fresnillo** slid 7%.\n\nThe rout extended across the mining sector, with **Antofagasta** down 5.3%, **Glencore** off 3.7% and **Anglo American** falling 3%.\n\nOil stocks were also under pressure as crude prices slid overnight. **BP** and **Shell** were both more than 2% lower, adding to the downside across the index as investors continued to cut exposure to commodity-linked names.\n\n**Bitcoin** slid to its lowest level in around ten months in early trading, as investors continued to flee riskier assets amid the broader market rout.\n\nThe world’s largest cryptocurrency fell to $74,546, its weakest level since 7 April last year, and a long way from the record high above $125,000 reached in 2025.\n\nThe move underlines how sharply sentiment has turned against high-beta assets, with crypto tracking the sell-off seen across commodities, equities and technology stocks.\n\nThe sell-off is spreading well beyond precious metals, with base metals now firmly in the firing line.\n\n**Copper, tin** and **zinc** are all being aggressively sold, as traders continue to unwind crowded positions. Copper futures in Shanghai have slumped by more than 9% in today’s session, while tin prices in Shanghai have plunged around 11%.\n\nIn **London**, zinc prices are down more than 4%, adding to the sense of a broad-based capitulation across industrial metals.\n\nPlatinum has also been caught in the downdraft, sliding around 10% this morning to $1,945 an ounce. That marks a dramatic reversal from last week, when the metal briefly surged to a record high of $2,918 an ounce before tumbling sharply on Friday.\n\nThe scale and speed of the moves underline how quickly sentiment has flipped across commodities, with what had been a powerful momentum-driven rally now giving way to forced liquidation and risk reduction."}