U.K. stocks traded lower on Tuesday, with energy stocks taking a beating amid disappointment from the lack of fresh supportive measures in top consumer China.
The benchmark FTSE 100 was down 20 points, or 0.3 percent, at 7,620 after having hit its lowest level since Feb. 16 earlier in the day.
BP Plc fell about half a percent and peer Shell gave up 1.1 percent as oil extended overnight losses amid concerns about the outlook for energy demand.
Ashtead Group slumped 7.7 percent after the equipment rental firm narrowed its full-year guidance, citing a lower level of activity in the North America market.
Telecommunications testing firm Spirent jumped 58 percent after it has agreed to be taken over by U.S. communications equipment company Viavi Solutions in a deal valued at about 1.01 billion pounds ($1.28 billion).
Car distributor Inchcape plummeted 9 percent after flagging moderate growth this year.
Market Analysis
FTSE 100 Falls As Resource Stocks Drag
2024-03-05 09:39:08
