FTSE 100 Moderately Lower In Cautious Trade
(RTTNews) - The U.K. stock market is down in negative territory on Thursday, mirroring losses across the region, following U.S. President Donald Trump's announcement of 25% tariffs on imported cars.
Trump also posted on his Truth Social Platform that he will impose even steeper tariffs on the European Union and Canada if they collaborate to harm the U.S. economy.
European Commission President Ursula von der Leyen said she "deeply regrets" Trump's latest tariffs move. "The EU will continue to seek negotiated solutions, while safeguarding its economic interests," she said.
Meanwhile, British Chancellor Rachel Reeves, who addressed the media in Cardiff following the spring statement, called US-UK trade talks a "delicate moment" but stressed that the UK has no plans for retaliation.
The benchmark FTSE 100 was down 56.21 points or 0.65% at 8,633.38 about a quarter before noon.
M&G is plunging more than 6.5%. Schroders is down 5% and Taylor Wimpey is declining 4.7%.
Antofagasta, Melrose Industries, Segro, British American Tobacco, Smith & Nephew, Anglo American Plc. and Informa are down 2 to 4%.
Rightmove, Entain, BT Group, Standard Chartered, Barclays, Babcock International, Rolls-Royce Holdings, Glencore and Tesco are also notably lower.
Fashion retailer Next is rising 6.5% after reporting annual sales and profit growth in line with expectations.
Marks & Spencer is climbing up 2.7%, while Compass Group and Associated British Foods are up 1.3% and 1%, respectively.
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