The FTSE 100 showed minimal movement on Tuesday, with gains in defensive stocks counteracting losses in the mining and energy sectors. Renewed trade tensions, triggered by Chinese restrictions on a US entity, contributed to a cautious market sentiment. Labour market data indicating rising unemployment added to expectations of future interest rate cuts by the Bank of England.
- The FTSE 100 ended the day with little overall change.
- Defensive stocks saw gains.
- Mining and energy shares experienced weakness.
- China imposed restrictions on US units of South Korea’s Hanwha Ocean, escalating trade concerns.
- EasyJet shares surged following takeover bid speculation.
- Anglo American, Antofagasta, and Glencore saw significant declines.
- Rio Tinto reported a 10% rise in third-quarter copper output.
- BP warned of potential impairment charges.
- Unemployment rose to 4.8%, the highest since May 2021.
The market experienced a mixed performance, influenced by both company-specific news and broader economic and geopolitical factors. Weakness in commodity-related stocks offset positive developments in other sectors, creating a near-flat outcome. The overall tone suggests an underlying fragility, with external events capable of significantly impacting investor confidence and sector performance.