FTSE 100 Down Nearly 0.5% At Noon
(RTTNews) – The UK stock market shed ground Tuesday morning as concerns about inflation and interest rates amid rising U.S.-Iran tensions hurt investor sentiment. Oil prices climbed higher and bond yields moved up, resulting in a drop in appetite for riskier assets such as equities.
The benchmark FTSE 100 was down 43.80 points or 0.42% at 10,454.49 at noon.
Intercontinental Hotels Group dropped 3.7%. Pearson, Melrose Industries, 3i Group, Relx, Informa, IAG, Barratt Redrow, Lion Finance, Persimmon and Natwest Group lost 2%-2.8%.
Diageo, Howden Joinery Group, Burberry Group, Rolls-Royce Holdings, Admiral Group, Convatec Group, Tritax Big Box REIT and LSEG shed 1.4%-2%.
British Land Company declined by about 2% despite reporting strong leasing activity during the first quarter of its fiscal year 2027.
Energy stocks BP and Shell moved up 2.3% and 1.6%, respectively, riding on higher oil prices.
Miners Glencore, Rio Tinto, Anglo American Plc and Antofagasta gained 0.8%-1.8%.
Centrica, Vodafone Group, Airtel Africa, IMI, Sainsbury (J), Aberdeen Group, SSE, Tesco and Weir Group also climbed higher.
In economic news, UK retail sales rose by 1.7% year-on-year on a like-for-like basis in June, falling short of market expectations for a 2.9% gain, slowing from a 3.4% increase in May and marking the softest growth since February, data from British Retail Consortium showed.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
