FTSE 100 drifts lower amid new tariff uncertainty

The FTSE 100 closed somewhat little connected Monday arsenic spot successful mining stocks was offset by concerns astir US waste and acquisition policy.

The FTSE 100 scale closed down conscionable 2.15 points astatine 10,684.74. The FTSE 250 ended down 204.91 points, 0.9%, astatine 23,546.65, and nan AIM All-Share closed up 1.15 points, 0.1%, astatine 816.26.

On nan FTSE 100, miners Fresnillo and Endeavour Mining added 3.2% and 6.4% respectively, while elsewhere successful nan sector, Antofagasta climbed 2.2% and Glencore traded 1.2% higher.

Gold climbed to 5,216.70 dollars an ounce from 5,066.90 dollars, while metallic gained 3.3%.

Joshua Mahony astatine Scope Markets explained that gold, which deed a three-week high, was being lifted by events successful Iran and tariff uncertainty.

The latest waste and acquisition worries came aft US President Donald Trump raised nan world tariff he wants to enforce to 15% aft nan Supreme Court struck down galore of his sweeping duties imposed past twelvemonth astatine nan extremity of past week.

Mr Trump said connected Saturday successful a societal media station that he was making nan determination “based connected a thorough, detailed, and complete reappraisal of nan ridiculous, poorly written, and extraordinarily anti-American determination connected Tariffs issued (Friday),” by nan US Supreme Court.

After nan tribunal ruled he did not person nan emergency powerfulness to enforce galore sweeping tariffs, Mr Trump signed an executive bid that enabled him to bypass Congress and enforce a 10% taxation connected imports from astir nan world.

Mr Trump past raised nan level to 15%.

Mr Mahony, astatine Scope Markets, said: “This latest shake-up to world waste and acquisition nary uncertainty provides a caller grade of uncertainty going forward.

“No longer does this look for illustration a targeted argumentation aimed astatine fixing an unfair strategy for nan US, but alternatively it is fundamentally a broad taxation aimed astatine replicating nan income from nan aged tariffs.”

The lb climbed to 1.3505 dollars connected Monday day from 1.3492 dollars astatine nan equities adjacent connected Friday. The euro stood higher astatine 1.1801 dollars from 1.1780 dollars. Against nan yen, nan dollar was trading little astatine 154.33 yen compared to 154.95 yen.

In European equities connected Monday, nan CAC 40 successful Paris closed down 0.2%, while nan DAX 40 successful Frankfurt ended 1.1% lower.

Losses successful Frankfurt came contempt figures showing nan business ambiance successful Germany improved by much than anticipated successful February.

Data from nan ifo Institute showed nan Business Climate scale climbed to 88.6 points successful February, higher than an summation to 88.4 points that had been pencilled successful by nan FXStreet-cited consensus, from 87.6 points successful January.

The existent appraisal scale ticked up to 86.7 points successful February from 85.7 points successful January, beating nan statement of 86.1.

The expectations scale roseate to 90.5 points successful February, successful statement pinch nan consensus, from 89.6 points successful January, nan second of which was revised up from 89.5.

Mariana Monteiro, expert astatine JP Morgan, said: “February’s betterment reinforces our position that nan caller pickup successful activity is apt to beryllium sustained arsenic fiscal easing gains traction done nan year.”

It was different bleak time for investors successful Novo Nordisk arsenic it said its obesity supplier campaigner CagriSema delivered up to 23% weight nonaccomplishment complete 84 weeks successful a late-stage head-to-head trial, but grounded to meet its superior endpoint against Eli Lilly’s tirzepatide.

Lilly was up 4.6% successful New York, while Novo slumped 16% successful Copenhagen.

Goldman Sachs expert James Quigley said: “These information points could further trim marketplace expectations for CagriSema, moreover up of nan Redfine 11 trial, and while we proceed to expect support for CagriSema and apt immoderate usage by physicians arsenic portion of a portfolio attack successful obesity, investors are not apt to springiness in installments present until nan income commencement to travel though station approval.”

Stocks successful New York were lower. The Dow Jones Industrial Average was down 1.4%, nan S&P 500 scale was 1.0% lower, and nan Nasdaq Composite declined 1.1%.

The output connected nan US 10-year Treasury narrowed to 4.04% connected Monday from 4.09% connected Friday. The output connected nan US 30-year Treasury ebbed to 4.69% from 4.73%.

Back successful London, sports retailer JD Sports gained 3.4% aft it said it intends to return £200 cardinal to shareholders done stock buybacks successful nan 2027 financial year.

The Manchester-based sportswear retailer said nan stock buyback programme will commencement instantly pinch a worth of up to £100 million.

Software stocks and information providers were successful nan reddish erstwhile much connected AI disruption worries.

Accountancy package supplier Sage fell 4.4%, speech usability and information supplier London Stock Exchange dipped 2.5%, and in installments checker Experian declined 2.6%.

On nan FTSE 250, Mony Group precocious 2.8% arsenic it announced a caller £25 cardinal stock buyback and unveiled improved yearly results contempt “significant headwinds” successful nan car security sector.

The Ewloe, Wales-based value comparison website operates nan MoneySuperMarket and TravelSuperMarket comparison sites.

Mony said pre-tax profit accrued 1.7% to £110.5 cardinal successful 2025 from £108.7 cardinal successful 2024, pinch gross rising 1.6% to £446.3 cardinal from £439.2 million.

It represented a grounds gross result fuelled by beardown capacity successful Money and Home Services, Mony said.

Adjusted net earlier interest, tax, depreciation and amortisation grew 2.3% to a highest-ever £145.1 cardinal from £141.8 million, nan patient added.

But Johnson Matthey plunged 17% aft Honeywell International agreed to trim nan value of its planned acquisition of nan Catalyst Technologies section and widen nan deadline for completion.

Honeywell said it has agreed to amend nan position of nan acquisition, reducing full information to £1.33 cardinal from £1.80 billion.

The agelong extremity day for satisfying closing conditions has been extended to July 21 2026, pinch a imaginable further hold to August 21 2026 if definite conditions are met.

Both companies now expect completion by nan extremity of August 2026, taxable to regulatory approvals.

Johnson Matthey said nan revised value reflects Catalyst Technologies’ capacity successful nan 2025-26 financial year, including nan deferral of “key” sustainable solutions licensing projects and reduced profitability from catalyst proviso “due to nan challenging marketplace environment”.

Brent lipid traded higher astatine 71.96 dollars a tube connected Monday day from 71.33 dollars precocious Friday.

The biggest risers connected nan FTSE 100 were Endeavour Mining, up 300p astatine 5,010p; JD Sports Fashion, up 2.6p astatine 80.8p; Fresnillo, up 122p astatine 3,976p; Marks & Spencer, up 9.8p astatine 406.9p; and Centrica, up 4.3p astatine 192.6p.

The biggest fallers connected nan FTSE 100 were ICG, down 86p astatine 1,652p; Pershing Square Holdings, down 198p astatine 4,230p; Sage Group, down 35.6p astatine 783.6p; Mondi, down 39.4p astatine 887p; and Whitbread, down 109p astatine 2,621p.

Tuesday’s world economical almanac has user assurance figures, nan Richmond Fed manufacturing scale and S&P/Case-Shiller location value index.

Tuesday’s home firm almanac has full-year results from speciality chemicals shaper Croda, lender Standard Chartered and student accommodation provider, Unite.

Contributed by Alliance News.