Finance
FTSE 100 Ends Flat on US Tariff Uncertainty
Published by Global Banking & Finance Review®
Posted on February 23, 2026
2 min readLast updated: April 2, 2026
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Published by Global Banking & Finance Review®
Posted on February 23, 2026
2 min readLast updated: April 2, 2026
Add as preferred source on GoogleFTSE 100 traded flat as markets weighed fresh U.S. tariff plans. Johnson Matthey tumbled after cutting the sale price of its catalyst unit to Honeywell, while gold miners gained on safe‑haven demand.
Feb 23 (Reuters) - The UK's FTSE 100 ended flat on Monday as uncertainty over U.S. trade policy largely stymied trade, although Johnson Matthey slumped after the chemical company accepted a cut to the sale price of its catalyst unit to Honeywell.
The blue-chip index ended 0.02% lower after closing at record highs last week. The domestically focused mid-cap FTSE 250 was down 0.9%.
U.S. President Donald Trump at the weekend said he would implement a new 15% tariff on global imports, following the U.S. Supreme Court's decision on Friday to strike down his emergency-based tariffs.
The British government had negotiated a lower reciprocal tariff rate at 10% after reaching a deal with the U.S. last year, but Trump's promise to reimpose higher levies at 15% means businesses may face higher duties.
MONDI AND JOHNSON MATTHEY BOTH FALL
Britain does not expect the new tariffs to impact the "majority" of a UK-U.S. economic deal, Prime Minister Keir Starmer's spokesperson said.
Tariff concerns weighed on packaging and paper group Mondi, which lost 4.3%, while its U.S. peers also fell.
Johnson Matthey slumped 16.4% to the bottom of the mid-cap index, after it agreed to lower the sale price of its catalyst technologies business to Honeywell following the unit's underperformance in fiscal 2025.
British aerospace and defence stocks pulled back after touching a record high on Friday.
Rolls-Royce Holdings dipped 0.2% despite a media report that said the engine maker is expected to launch a share buyback worth as much as 1.5 billion pounds ($2 billion) alongside its annual results this week.
Meanwhile, precious-metal miners rose 5.2% to a record high after gold climbed to a three-week high as investors sought safe-haven assets. [GOL/]
(Reporting by Tharuniyaa Lakshmi in Bengaluru; Editing by Vijay Kishore and Barbara Lewis)
UK stocks were muted as traders assessed renewed U.S. tariff risks, with the FTSE 100 steady and select sectors reacting to trade headlines.
The company agreed to cut the sale price of its Catalyst Technologies business to Honeywell, triggering a sharp decline in its share price.
Precious‑metal miners outperformed on higher gold prices, while packaging names like Mondi and some industrials lagged on tariff concerns.
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