FTSE 100 Down 0.7% In Cautious Trade Ahead Of Trump's Tariff Announcement
(RTTNews) - U.K. stocks are down in negative territory on Wednesday in cautious trade ahead of U.S. President Donald Trump's announcement of "reciprocal tariffs" later today.
Pharmaceuticals, mining and realty stocks are among the notable losers.
The benchmark FTSE 100 was down 63.19 points or 0.73% at 8,571.61 a little while ago, off a low of 8,511.11 touched earlier in the session.
Rolls-Royce Holdings, GSK, Melrose Industries and Persimmon are down 3 to 3.5%.
AstraZeneca, Taylor Wimpey, Beazley, Convatec Group, Fresnillo, Hikma Pharmaceuticals, St. James's Place, Intertek Group and Babcock International are declining 2 to 3%.
Barratt Redrow, M&G, Smiths Group, Croda International, Schroders, BAE Systems, Segro, Weir Group and IMI are among the other prominent losers.
WPP is gaining about 1.5%. Diageo, Bunzl, BP, Easyjet and IAG are up with modest gains.
Convenience goods giant Greencore Group Plc has reached an agreement with its rival Bakkavor over a £1.2 billion takeover. The deal would help create a convenience foods giant with combined turnover of about £4 billion. Bakkavor Group shares are up nearly 7%, while Greencore Group is down marginally.
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