FTSE 100 Rides the Wave Amid Trade Tensions and Corporate Turmoil
The FTSE 100 closed slightly up as investors navigated U.S. tariff talks and a significant drop in WPP's stock. Concerns over a potential trade war, particularly affecting copper and semiconductor markets, added to global unease. Meanwhile, the FTSE 250 dipped with notable declines in industrial metals and vehicle rentals.
The FTSE 100 experienced a modest uptick on Wednesday, rising by 0.2%, amid investors' close watch on U.S. tariff negotiations. However, WPP's shares plummeted by 19%, marking the largest drop in over 30 years following a cut in profit forecasts.
Concerns intensified as U.S. President Donald Trump threatened hefty tariffs on copper and impending levies on semiconductors and pharmaceuticals. This pressure led to a decline in UK's industrial metal stocks, impacting companies like Glencore and Anglo American.
The FTSE 250 faced a minor setback with vehicle rental provider ZIGUP declining sharply. Meanwhile, British American Tobacco saw gains after a positive note from Jefferies, despite broader market unease over global trade tensions.
(With inputs from agencies.)
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