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FTSE 100 Drifts Lower In Cautious Trade
(RTTNews) - U.K. stocks are down in negative territory, losing ground after making a good upmove in the previous week. Investors, awaiting the outcome of a UK - European Union summit in London, are largely making cautious moves.
European Commission President Ursula von der Leyen and British Prime Minister Keir Stammer are likely to unveil a new defense and security pact, following the negotiators from the two sides reaching a deal to enhance ties between the two regions.
A downward revision in U.S. government's credit outlook by Moody's is weighing on sentiment.
The benchmark FTSE 100 was down 55.68 points or 0.64% at 8,628.88 at noon.
Pershing Square Holdings, Scottish Mortgage, Polar Capital Technology Trust, Segro, Land Securities and Ashtead are down 2 to 2.7%.
Antofagasta, Melrose Industries, Halma, BP, Compass Group, Intertek Group and Rio Tinto are also notably lower.
Fresnillo is gaining about 1.8%. EasyJet, Tesco, Vodafone Group, Imperial Brands, Endeavour Mining, Centrica, Convatec Group, Coca-Cola and Sainsbury (J) are up 0.4 to 1.3%.
Shares of Diageo Plc are up nearly 3%. The world's leading spirits company unveiled a $500 million savings plan. Budget carrier Ryanair is up 4.7% after signaling robust demand for travel this summer.
Malaysia Stock Market May Tick Higher On Tuesday
Japan Stock Market May Snap Losing Streak
South Korea Shares Likely To Remain Rangebound
Australia Rate Decision Due On Tuesday
Euro Retreats Against Majors
Swiss Market Turns Positive In Closing Minutes, Ends Slightly Up
European Stocks Rise In Late Afternoon Trades, Close On Mixed Note
