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FTSE 100 Subdued As Investors Look For Direction; Mining Stocks Rise
(RTTNews) - U.K. stocks are mostly moving in a tight range on Monday as investors await progress in trade negotiations between the U.S. and the European Union, for clues about tariffs
According to reports EU member states are pressing the European Commission to prepare countermeasures, including tariffs on U.S. goods, restrictions on digital services, and limits on public procurement access.
Mining stocks are finding some support thanks to higher iron ore prices.
The benchmark FTSE 100, moving between 8,982.03 and 9,007.79, was down 9.81 points or 0.11% at 8,982.31 a few minutes before noon.
Anglo American Plc and Glencore are up 3.3% and 3.2%, respectively. Antofagasta is rising 2.7% and Rio Tinto is up by about 2.5%. Fresnillo is advancing 0.7%.
Sainsbury (J), Tesco, Entain, SSE, Marks & Spencer and Rentokil Initial are gaining 1 to 1.8%. Londonmetric Property, Mondi, Centrica, Smiths Group, Land Securities, Barrat Redrow, Schroders, Legal & General and Games Workshop are up 0.7 to 1.8%.
Oil & gas giant BP Plc is up by about 0.3% after naming Albert Manifold as its new chairman, succeeding Helge Lund.
Shares of precision engineering group Hunting Plc. are up more than 3% after the company said it has secured a $31 million order for Black Sea gas project.
BAE Systems is down 1.6%. Diageo, Standard Chartered, WPP, Airtel Africa, Barclays, AstraZeneca, Haleon, Auto Trader Group and Relx are down 0.6 to 1.2%.
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