The FTSE 100 Index Closes 0.98% Lower

The FTSE 100 fell around 1% on Tuesday, adding to a 0.6% drop in the previous session, as investors stayed cautious ahead of developments in US Iran talks with the ceasefire deadline approaching. Defence stocks led losses, with BAE Systems down 4.2%, Babcock off 1.4%, and Rolls Royce sliding more than 6%. The pharmaceutical sector also weakened, as AstraZeneca fell 2.6% and GSK lost 2.9%. Other heavyweight names including Unilever and British American Tobacco declined 1.2% and 2.7% respectively. Associated British Foods dropped more than 2.5% after confirming plans to separate Primark. On the upside, BP rose more than 1%, while utilities outperformed with SSE up 2.7% and Centrica gaining 1.3%. Experian added over 2% after naming Adam Crozier as chair designate. In economic data, UK unemployment fell to 4.9%, below expectations, while wage growth eased to 3.8% including bonuses and 3.6% excluding them, both slightly above forecasts.

The FTSE 100 Index dropped 104 points or 0.98 percent on Tuesday to close at 10505 points. Losses were led by Rolls-Royce (-6.35%), BAE Systems (-4.29%) and Endeavour (-3.81%). Offsetting the fall, top gainers were Relx (2.94%), SSE (2.82%) and Standard Life (2.57%).

The FTSE 100 Index is gaining 12 points or 0.11 percent on Tuesday. Leading the gains are SSE (3.62%), Centrica (1.76%) and Burberry (1.40%). Top losers are Associated British Foods (-4.27%), Vistry Group (-1.92%) and Persimmon (-1.42%).