The FTSE 100 experienced a decline of 0.8% on Tuesday, extending its losing streak to four consecutive days, the longest since August. This pullback moved the index further away from its recent record highs. While several sectors dragged the index down, defensive stocks and certain positive earnings reports offered some support, allowing it to outperform the Euro Stoxx 50.
- The FTSE 100 fell 0.8%.
- This marks the fourth straight day of declines for the index.
- Precious-metals miners Fresnillo and Endeavour declined 5% and 3%, respectively.
- Diversified miners Anglo American, Antofagasta, and Rio Tinto saw declines between 2% and 3%.
- Banks such as Barclays, Standard Chartered, HSBC, Lloyds, and NatWest also weighed on the index.
- AstraZeneca, a major constituent, posted gains.
- Tobacco stocks, particularly BAT, received support from Imperial Brands’ earnings update.
- ICG jumped more than 9% due to strong earnings and Amundi’s planned investment.
- The FTSE 100 is outperforming the Euro Stoxx 50, which is down 1.5%.
The overall performance of the asset reveals a challenging trading day characterized by broad sector weakness. Declines in mining and banking sectors exerted significant downward pressure. However, positive signals from healthcare and tobacco, alongside a notable earnings beat from one company, served to cushion the fall, resulting in a better relative performance compared to a similar European index. This suggests that while the overall trend is currently negative, certain sectors and individual companies demonstrate resilience and potential for growth.