The FTSE 100 opened lower on 1 June 2026, slipping 27 points to 10,382.67 in early trade as defence, aerospace and precious metals shares led the declines.
Fresnillo fell 2.5%, while Babcock and Rolls-Royce both lost a little more than 2% as investors marked down some of the market’s most closely watched names. Endeavour Mining and BAE Systems were also among the fallers, alongside Lloyds Banking, Compass, RELX and Rentokil.
The move came even as broader US futures were positive, a reminder that London was not tracking a simple overnight risk-on mood. That split left the FTSE 100 under pressure at the open, with strength in other markets doing little to stop early selling in sectors tied to defence spending, aircraft engines and bullion prices.
There was some fresh economic context in the same session. Nationwide said UK house prices fell 0.6% month-to-month in May after rising 0.4% in April, adding another signal that parts of the domestic economy remain uneven. That data did not explain the opening drop on its own, but it gave traders one more reason to reassess the outlook as the index began the month weaker.
For now, the question is less whether the FTSE 100 started June on the back foot than whether the pressure in its heavy-hitting sectors spreads beyond the morning session. If it does, the market’s early dip could prove to be the first sign of a broader reset rather than a brief pause.
