FTSE Drifts Lower Amid Middle East Tensions
(RTTNews) - U.K. stocks traded lower on Monday amid signs of escalating tensions in the Middle East.
Iran's Supreme National Security Council (SNSC) has warned of a "much harsher response" against any further action by Israel in the aftermath of the Islamic Republic's retaliatory operation into the occupied territories.
The benchmark FTSE 100 was down 39 points, or half a percent, at 7,957 after climbing 0.9 percent on Friday.
Nutrition company Glanbia jumped 5 percent after it inked a deal to acquire U.S.- based Flavor Producers LLC for an initial consideration of $300 million.
Facilities management firm Mitie Group surged 8 percent after launching a share buyback.
Inchcape climbed 4.6 percent. The automotive distributor has agreed to sell its UK retail operations to Group 1 Automotive UK for 346 million pounds.
Emerging markets fund manager Ashmore Group tumbled 3.1 percent after its assets under management fell 4 percent over the third quarter of fiscal 2024.
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