The FTSE 100 experienced a decline on Wednesday, closing approximately 0.3% lower at 8,608, reflecting a broader downward trend in European markets. Investor sentiment was dampened as they awaited President Trump’s announcement regarding potential reciprocal tariffs, with speculation suggesting duties of around 20% on most imports.
- The FTSE 100 closed down approximately 0.3% at 8,608 on Wednesday.
- Losses mirrored a broader downturn in European markets.
- Investors awaited President Trump’s tariff announcement.
- Reports suggest potential duties of around 20% on most imports.
- Rolls-Royce (-3%) and Vodafone (-2.5%) were among the top losers.
- GSK (-2.4%), Persimmon (-2.3%), and Taylor Wimpey (-1.9%) also experienced notable declines.
- Bunzl led the gains with a rise of 3.2% after an upgrade to ‘buy’ at Stifel.
- WPP closely followed Bunzl with a gain of 3%.
The market’s movement suggests sensitivity to international trade policy, particularly concerning potential tariffs. Certain sectors, like aerospace, telecommunications, pharmaceuticals, and housing, experienced pronounced negative impacts, while specific companies, particularly in the support services sector, bucked the trend and achieved gains. The overall market performance indicates a cautious stance among investors, influenced by uncertainty surrounding upcoming trade-related announcements and their potential economic consequences.