A man shelters under an umbrella as he walks past the London Stock Exchange in London, Britain, August 24, 2015. REUTERS/Suzanne Plunkett/File Photo
Sept 7 (Reuters) – London’s FTSE 100 index edged lower on Tuesday, weighed down by brokerages and healthcare stocks, while DS Smith jumped to the top of the index after an upbeat trading update.
The blue-chip index (.FTSE) fell 0.2%, with investment banking and brokerage services providers (.FTNMX302020) shedding 0.6% after TP ICAP Group Plc reported a lower half-year profit. read more
Shares of the world’s largest inter-dealer broker (TCAPI.L) slipped 5.1%, the most on the FTSE 250 index (.FTMC).
The domestically focused mid-cap FTSE 250 index was down 0.1%.
Drugmakers AstraZeneca (AZN.L) and GlaxoSmithKline (GSK.L) shed 0.8% and 0.6%, respectively, while banks (.FTNMX301010) fell 0.7% to weigh the most on the FTSE 100 index.
A global stocks index hit a record high, while European stocks hovered below all-time peaks as investors awaited the European Central Bank’s policy meeting on Thursday for clues on how the crisis-fighting measures would be dismantled. read more
“It’d be interesting to see how the statement and how Lagarde’s press conference kind of convey that when I still think the majority view is still a bit less hawkish”, said Ian Williams, economics & strategy research analyst at Peel Hunt.
“Even if you get these slightly more hawkish signals, the view is that central banks are still going to be very careful about withdrawing that policy stimulus which has been so important in the last few years.”
DS Smith (SMDS.L) gained 2.1% as J.P. Morgan raised its price target on the cardboard maker’s stock after it said trading continued to progress well in line with the trends.
Ted Baker Plc (TED.L) rose 1.4% after the upmarket fashion retailer said second-quarter sales surged 50% as the lifting of COVID-19 restrictions in the UK boosted demand for formal clothes. read more
McBride Plc (MCB.L) slipped 3.8% after the cleaning products maker reported a 17.8% slump in annual profit. read more
Vistry Group (VTYV.L) jumped 6% as Peel Hunt raised its price target on the homebuilder’s stock following first-half results.
Marks & Spencer (MKS.L) rose 3.5% after UBS upgraded the retailer’s stock to “buy” from “neutral”.
Reporting by Devik Jain in Bengaluru; Editing by Saumyadeb Chakrabarty and Uttaresh.V
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