U.K. stocks are moving in a very tight band in lackluster trade on Thursday with investors looking for direction after the market hit record levels earlier in the week. Data showing a sharp drop in sentiment in the manufacturing sector appears to be weighing on the market a bit.
The cautious mood is also due to concerns about U.S. President Donald Trump’s tariff threats.
The benchmark FTSE 100 is down 8.65 points or 0.1% at 8,536.48 about half an hour before noon.
Entain is declining 3.7%, JD Sports Fashion is down 3.1%, Associated British Foods is lower by 2.6% and Anglo American Plc is down 2.3%.
Auto Trader Group, Fresnillo, Glencore, Marks & Spencer, Smith & Nephew, Scottish Mortgage, Rio Tinto, Kingfisher and Prudential are down 1 to 2%.
Intermediate Capital is rising 1.8%. Weir Holdings is gaining 1.7%, while Centrica, EasyJet, British American Tobacco, Imperial Brands, IAG, Natwest Group and Standard Chartered are advancing 1 to 1.3%.
A report from the Confederation of British Industry showed that sentiment in the UK manufacturing sector dropped sharply to -47 in January 25, marking the steepest decline in over two years.
A separate report from the same bureau said factory orders in the UK decreased to 34 Net Balance in January 2025, over the previous month.
Market Analysis
FTSE 100 Down Slightly In Lackluster Trade
2025-01-23 11:29:06
