The FTSE 100 experienced a decline on Tuesday, falling 0.9% to its lowest point in two weeks. This marks the third consecutive day of losses as investors reacted to corporate announcements and newly released UK jobs figures. Performance among individual companies varied, with some experiencing significant drops while others saw modest gains. The market is processing a mix of both positive and negative signals.
- The FTSE 100 fell 0.9% to a two-week low.
- EasyJet slid over 3% following a warning from JPMorgan about capacity growth and weaker pricing in the leisure travel market.
- Haleon dropped about 4.4% after a downgrade.
- Rolls-Royce eased 1.1% despite its Power Systems unit securing a record battery order.
- Unilever lost nearly 1% after naming Srinivas Phatak as permanent CFO.
- Anglo American rose 0.8% after agreeing to jointly develop copper mines with Codelco.
- Wage growth excluding bonuses came in at 4.8%, and 4.7% including bonuses, both in line with forecasts.
- Unemployment stayed at 4.7%.
- Payrolls fell by 8,000, a smaller drop than expected.
The overall market sentiment appears to be cautious, influenced by a combination of sector-specific concerns and broader economic indicators. Weakness in some prominent companies, driven by factors like analyst downgrades or industry-specific challenges, has contributed to the index’s downward pressure. While economic data presented a mixed picture, the market seems to be focusing on the negative aspects, such as the fall in payrolls, despite it being smaller than anticipated. Selective gains in specific stocks, such as Anglo American, suggest that there are opportunities even in a declining market.