Published by Global Banking and Finance Review
Posted on April 24, 2025
(Reuters) -Britain's FTSE 100 held steady on Thursday, taking a breather from its recent rally as investors processed a wave of corporate earnings while assessing the implications of shifting U.S. trade policies.
The blue-chip FTSE 100 ended flat and the midcap index <FTSE 250> edged 0.1% higher
Heavy-weight banks dropped 1.6%.
On the flip side, metal mining companies were higher on the day as copper prices hovered below a three-week high and gold prices also gained.
Global stocks wavered this week as U.S. President Donald Trump attacked then backed off from criticizing Federal Reserve Chair Jerome Powell. Treasury Secretary Scott Bessent called U.S.-China tariffs unsustainable but ruled out one-sided reductions.
The conflicting messages have created uncertainty for investors.
Back home, Bank of England Governor Andrew Bailey said on Wednesday the central bank was seriously concerned about global trade disruption's impact on economic growth, two weeks before the BoE's next rate decision and its latest economic forecasts.
Investors assigned a near 100% probability of the BoE cutting rates by 25 basis points on May 8.
Among earnings-related moves, consumer goods company Unilever beat estimates for first-quarter underlying sales growth and said it expected the direct impact of tariffs to be limited. Its shares inched 0.5% lower.
ASOS climbed 2.1% after the online fashion retailer reported half-year earnings ahead of expectations and forecast further growth in 2025.
Inchcape tumbled 7% after the car distributor reported a decline in first-quarter revenue and said uncertainties caused by tariffs could impact supply from automakers and reduce market demand.
Legal & General group weighed the most on the blue-chip index as the life insurer traded without the rights to its next dividend. Its shares fell 5.7%
(Reporting by Sruthi Shankar in Bengaluru; Editing by Leroy Leo and Andrew Heavens)
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