FTSE 100 SLIPS AS BANKS WEIGH ; DEFENSIVE STOCKS LIMIT DECLINE

What happened: The FTSE 100 fell 0.8% to 10,680.25 points by 1006 GMT, with banks dragging the most as elevated oil prices weighed, while defensive sectors cushioned the decline. Key numbers: FTSE 100 down 0.8% to 10,680.25; FTSE 250 lost 1%; banks fell nearly 2% to an over four-month low; HSBC, Lloyds and NatWest fell between 1.6% and 2.3%; Brent reached a five-month high of $111.05 a Why it matters: Pay growth data could bolster the case for a Bank of England rate hike next month, pressuring rate-sensitive midcaps, while investors watch for UK inflation and retail sales figures this week.

FTSE 100 slips as banks weigh while defensive stocks limit decline.

FTSE 100 slips as banks weigh while defensive stocks limit decline. — impact context not separately stored; see What changed.