The internationally focussed FTSE 100 index fell 0.1% by 0923 GMT, while the midcap FTSE 250 rose 0.4%
International News via Reuters:
The UK’s blue-chip FTSE 100 ticked lower on Wednesday after posting six straight quarterly gains as investors monitored the latest setback in U.S.-Iran talks, with gains in financials and industrials offsetting weakness in energy and mining shares.
The internationally focussed FTSE 100 index fell 0.1% by 0923 GMT, while the midcap FTSE 250 rose 0.4%.
• Iran said on Tuesday it would not meet top U.S. envoys, following an outbreak of hostilities between the two nations, clouding the prospects of a peace agreement.
• Precious and industrial mining shares declined, weighing on the commodity-heavy FTSE 100 with Rio Tinto and Fresnillo down 1.1% and 1.7%, respectively.
• Aerospace and defence shares extended gains from the prior session when Prime Minister Keir Starmer pledged an extra £15 billion ($20 billion) toward a defence boost. Babcock, BAE Systems, Rolls-Royce and Melrose Industries rose between 1.7% and 4.9%.
• PMI data showed that Britain’s manufacturing activity cooled in June despite a boost from stockpiling ahead of price hikes and supply chain disruption worries.
• Among individual movers, AB Foods dropped 2% after the Primark owner said it expects annual profit to be below last year’s. The food, beverage & tobacco index slipped 1.5%.
• Greggs fell 3.8% and was the top laggard on the mid-cap index after the UK’s biggest fast-food chain said its long-time CFO Richard Hutton would step down.
• JD Sports shed 2.1% after its retail partner Nike reported a decline in fourth-quarter revenue and said it expects a further revenue drop through the first half of 2027.
• Both the FTSE 100 and FTSE 250 notched quarterly gains. The midcap index posted its biggest quarterly rise in five quarters, while the blue-chip index ended higher in 11 of the last 12 months.
Reporting by Twesha Dikshit; Editing by Shreya Biswas
