FTSE Notably Lower As Trade War Fears Hurt Sentiment
(RTTNews) - U.K. stocks are down firmly in negative territory on Monday, tracking weak global markets amid rising fears of a global trade war after the U.S. President Donald Trump said he will likely impose duties on "essentially all" of the U.S.'s trading partners.
British Prime Minister had said earlier that he had productive talks with Trump about securing exemptions from tariffs.
Shares of mining, financial companies and energy firms are among the major losers.
The benchmark FTSE 100 is down 113.32 points or 1.31% at 8,545.53 at noon.
IAG is down more than 6%. Glencore, Anglo American Plc, Entain, JD Sports Fashion, Rio Tinto, Schroders and Antofagasta are down 3 to 4%.
EasyJet, Weir Group, Barclays Group, Croda International, Rolls-Royce Holdings, Natwest Group, Standard Chartered, Lloyds Banking Group, HSBC Holdings, Informa, AstraZeneca, Melrose Industries, Marks & Spencer, Persimmon and IMI are down 1.5 to 3%.
Associated British Foods is down more than 2% as Primark CEO Paul Marchant resigned amid an investigation into behaviour allegations.
3i Infrastructure is down more than 2% after the investment company released a pre-close trading update for the year ending 31 March 2025.
Pets At Home Group shares are plunging more than 12% after a profit warning. Pennon Group shares are down 2.3%. The British utility said a water contamination outbreak which affected thousands of homes in a Southwest seaside resort pushed up 'reshaping and transformation' costs to around £36m.
Imperial Brands, British American Tobacco, Severn Trent, Haleon and Unilever are gaining 0.5 to 1.1%.
U.S. Dollar Falls Against Most Majors
German Inflation Accelerates To 2.2% In August
Canadian Market Up In Positive Territory; BRP Rises Sharply On Strong Earnings
Swiss Market Ends Modestly Lower
European Stocks Close Lower On Geopolitical Tensions
U.S. Consumer Sentiment Deteriorates Slightly More Than Initially Estimated In August
Chicago Business Barometer Slumps Much More Than Expected In August
