The FTSE 100 experienced a downturn on Thursday, falling by 0.4%. The decline was primarily influenced by significant drops in the share prices of AstraZeneca and HSBC. Meanwhile, certain mining companies demonstrated positive performance, driven by increasing copper prices, while others in the same sector faced losses. Political developments and revised US GDP figures further contributed to market uncertainty.
- The FTSE 100 slipped 0.4% on Thursday.
- AstraZeneca declined by 2%.
- HSBC fell by 1.4%.
- ConvaTec plunged 5% due to US investigations.
- Rio Tinto gained over 3%.
- Glencore gained nearly 1%.
- Anglo American gained 0.3%.
- Antofagasta fell 1.5%.
- Halma climbed more than 1% after upgrading revenue guidance.
- Revised US GDP figures dampened expectations for Federal Reserve rate cuts.
The mixed performance of various sectors suggests a market grappling with both company-specific challenges and broader economic factors. Declines in major pharmaceutical and banking stocks pulled the index down, while gains in some mining companies offered a partial offset. Political discourse surrounding nationalization and higher borrowing could be creating investor caution. Furthermore, revised economic data in the US appears to be impacting global risk sentiment, potentially delaying anticipated monetary policy easing.