U.K. stocks are down marginally Tuesday morning amid lingering fears of long trade war following the U.S. deciding to impose tariffs on several trading partners including, Canada, China, Mexico and the EU.
The mood is cautious following China imposing tariffs on US goods and launching an investigation into Google, following Trump’s 10% tariff on Chinese imports.
Investors are also focusing on earnings updates, and await fresh economic data from U.S. and Europe for directional clues.
The benchmark FTSE 100, moving in a very tight band along the flat line, was down 12.33 points 8,570.74 a few minutes ago.
Marks & Spencer is rising 2.3%. Entain, Airtel Africa, Fresnillo, J Sainsbury, IAG, Croda International and EasyJet are gaining 1.3 to 2%.
Schrodders, Coca-Cola HBC, Tesco, Prudential, Smiths, WPP, Experian, Frasers Group, British American Tobacco, HSBC Holdings and Diploma are advancing 0.5 to 1%.
Vodafone is down more than 6%. The telecom operator reported another revenue decline in its key German market in the third quarter.
Vodafone reported that its third quarter adjusted EBITDAaL increased by 2.2% on an organic basis to 2.8 billion euros. Total revenue increased by 5.0% to 9.8 billion euros. Service revenue grew by 5.6% to 7.9 billion euros, and on an organic basis increased 5.2%.
Looking forward, the Group said it is on track to deliver Group adjusted EBITDAaL of approximately 11 billion euros, and Group adjusted free cash flow of at least 2.4 billion euros.
Diageo, the world’s top spirits maker, tumbled 4% in early trades, after scrapping its long-standing sales growth guidance. However, the stock recovered subsequently and was down just marginally a little while ago.
BP, Hiscox, BAE Systems, JD Sports Fashion, BT, Reckitt Benckiser, Admiral Group and Beazley are lower by 1 to 2%.
FTSE 100 Down Marginally In Cautious Trade
2025-02-04 11:13:45
