FTSE 100 Down Marginally; Melrose Industries Up Sharply On Results

(RTTNews) - U.K. stocks are marginally down in negative territory Tuesday morning on concerns about the outlook for global growth amid continued uncertainty about the U.S. Government's trade policy and tariff moves.

The benchmark FTSE 100 has dropped to 8,582.28, down 17.94 points 0.21% from previous close, after having advanced to 8,620.32 in early trades.

Melrose Industries is rising 4.7%. The housebuilding company revealed better profit in fiscal 2024, helped by a 13% increase in new home revenue. Total Group revenues rose 16% from last year. The company also expects further growth in profit and returns, in line with market expectations, and an improved underlying operating margin in 2025.

The company posted pre-tax profit of 359.1 million pounds in full-year 2024, up 2 percent from last year's 351.8 million pounds. Profit for the year also rose to 267.1 million pounds or 82.7 pence per share from 255.4 million pounds or 79.5 pence per share in fiscal 2023.

Vistry Group is climbing up nearly 4%. Barratt Redrow, Antofagasta, BAE Systems, Mondi, B&M European Value Retail, Taylor Wimpey, Severn Trent, Segro, Rolls-Royce Holdings and Sainsbury (J) are up 1.5 to 2.3%.

Pershing Square Holdings, M&G, Associated British Foods, Anglo American Plc, Berkeley Group Holdings, Glenore, Legal & General, United Utilities and Rightmove are also notably higher.

Spirax Sarco Engineering is down more than 4%. IAG is declining 3.5%, and InterContinental Group is declining 3%.

Intertek is rising 2.5%. Sage, Diploma, Hiscox, Halma, Smurfit Westrock, Standard Chartered, Lloys Banking Group, Experian, Unilever, Scottish Mortgage, Aviva and Croda International declining 1 to 2%.

Data from the British Retail Consortium revealed that UK retail sales growth eased in February on muted non-food sales. Retail sales increased 1.1% on a yearly basis in February, which was much slower than the 2.6% in January.

Linda Ellett, UK Head of Consumer, Retail & Leisure at KPMG said consumers remain cautious with their spending and many are continuing to prioritize saving, travel and experiences.

Further, nervousness about the economy is deferring other big ticket purchasing, but occasions and offers are still tempting shoppers into some impulsive spending, said Ellett.