Finance
FTSE 100 Muted as Banks Offset Gains in Miners; Tariff Worries Linger
Published by Global Banking & Finance Review®
Posted on February 24, 2026
2 min readLast updated: April 2, 2026
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The FTSE 100 edged lower as tariff uncertainty and AI disruption concerns weighed on tech and banks. Standard Chartered slipped despite upbeat results and a buyback, while ConvaTec and Croda rose on guidance and margin targets.
FTSE 100 Steady as Bank Losses Balance Miner Gains; Tariff Concerns Persist
By Tharuniyaa Lakshmi
Feb 24 (Reuters) - Britain's FTSE 100 was little changed on Tuesday, as gains in miners and utilities were offset by losses in financials, while investors assessed U.S. President Donald Trump's shifting trade stance.
Market Overview and Performance
The blue-chip index closed flat, while the domestically focused mid-cap FTSE 250 slipped 0.1%.
Industrial metal miners were the biggest boosts to the FTSE 100, with Rio Tinto and Glencore rising more than 1% each as the copper price hit its highest in over a week.
British technology stocks rose 0.6% after artificial intelligence firm Anthropic announced new ways for customers to integrate its tools into their workflows. Most U.S. tech stocks also advanced.
Technology and AI Sector Movements
Despite the modest rebound, underlying AI jitters persisted, said Ipek Ozkardeskaya, senior analyst at Swissquote Bank, adding that investors remained fragile.
Banks fell 0.5%, tracking declines in global financials. Standard Chartered dipped 1.4% despite reporting a rise in full-year pretax profit, announcing a $1.5 billion share buyback and a 65% jump in its annual dividend.
The U.S. began collecting a temporary new 10% global import tariff, though the Trump administration is working to lift the rate to 15%, amid confusion over trade policy after the Supreme Court last week ruled against Trump's previous tariff hikes.
Global Tariff Developments
Britain negotiated a reciprocal 10% tariff rate with Washington last year, and trade minister Peter Kyle said he was confident that agreement would remain in place.
Separately, Bank of England Governor Andrew Bailey pointed to the possibility of a March rate cut but warned that services inflation remained high.
Among individual movers, Convatec jumped 10.3% to the top of the FTSE 100 after the medical equipment maker raised its medium-term organic revenue target on the back of a strengthening product pipeline.
Croda climbed 7.6% after the speciality chemicals maker forecast strong 2028 profit margins as it continues streamlining its operations following last year's subdued demand in some regions linked to U.S. tariffs.
(Reporting by Tharuniyaa Lakshmi in Bengaluru. Editing by Vijay Kishore and Mark Potter)
Key Takeaways
- •FTSE 100 dipped as investors weighed tariff-related trade uncertainty and AI disruption risks.
- •Sectors seen vulnerable to AI, including software and private equity, pressured market sentiment.
- •UK tech names fell, while Raspberry Pi outperformed on enthusiasm around low‑cost AI projects.
- •Banks weakened; Standard Chartered slipped despite stronger results and a new buyback.
- •ConvaTec jumped on upgraded medium‑term growth targets; Croda rose on ambitious 2028 margin goals.
References
Frequently Asked Questions about FTSE 100 muted as banks offset gains in miners; tariff worries linger
1What is the main topic?
UK stocks softened as the FTSE 100 dipped on tariff uncertainty and worries that fast‑moving AI could disrupt key sectors, pressuring tech and banks.
2How did company news influence moves?
Standard Chartered fell despite reporting stronger profits and a buyback, while ConvaTec rallied on higher growth targets and Croda gained on 2028 margin ambitions.
3Why are AI concerns affecting markets?
A widely discussed research report highlighted potential economic risks from advanced AI, hitting sectors seen as vulnerable to automation and business model disruption.
