U.K. stocks are down in negative territory Thursday morning, weighed down by some disappointing earnings. The U.S. President Donald Trump’s threat of new tariffs effective April 2nd, weigh as well on sentiment.
The benchmark FTSE 100, moving in a narrow range between 8,677.50 and 8,702.83, was down 17.02 points or 0.2% at 8,695.51.
Imperial Brans, BP and BAE Systems are down 2 to 2.5%. AstraZeneca, Rolls-Royce Holdings, HSBC Holdings and Easyjet, GSK are declining 1.3 to 1.7%.
Lloyds Banking Group is gaining 3.6% after saying it set £700 million aside to cover the potential impact of historical commission arrangements on car loans. Investors are also reacting positively to the lender’s fourth-quarter results, and a higher-than-expected dividend, as well as a substantial buyback program.
Mining company Anglo American Plc. is up 3.5% despite reporting a loss of $3.07 billion for fiscal 2024, as against a profit of $283 million in the previous year. Loss per share was $2.53, compared to profit of $0.23 a year ago.
Centrica is up 7.8% despite a drop in earnings. The company reported preliminary profit before tax of 1.679 billion pounds for the full year, significantly lower than 6.473 billion pounds in the previous year, primarily impacted by lower revenue.
The stock is up as the company has decided to extend its share buyback program, saying that it will by back shares worth an additional £500 million, bringing the total to £2 billion, which is equivalent to 7% of its market capitalization as of the prior day’s close.
Mondi Plc is up 1.5%. The company reported that its profit for 2024 dropped to 378 million euros from 682 million euros in the prior year.
Market Analysis
FTSE 100 Slightly Lower In Cautious Trade
2025-02-20 11:21:20
