FTSE 100 Edges Down

(RTTNews) - Sentiment remains weak for the FTSE 100 benchmark of the London Stock Exchange amidst renewed concerns about global trade, economic growth and AI disruption that added to fears about the health of the corporate sector and the persisting geopolitical tensions.

The FTSE 100 which had closed at 10,684.74 on Monday traded between 10,643.65 and 10,687.10 on Tuesday while a new 10 percent global tariff regime took effect in the U.S., reviving trade tensions once again.

The index is currently trading at 10,677.48, shedding 0.07 percent from the previous close. Nevertheless, the benchmark is holding on to gains of more than 23 percent over the course of the past one year. The index had touched an all-time-high of 10,745.76 on Friday.

In the 100-scrip index, 62 scrips are trading in the overnight green zone. Convatec Group topped gains with a surge of more than 11 percent, in the backdrop of higher revenue and raised outlook. Croda International rallied 4.3 percent followed by Mondi that gained 2.8 percent. SSE, Halma, United Utilities Group, all rallied more than 2 percent.

Rentokil Initial led losses with a decline of 2.9 percent. Melrose Industries as well as Standard Chartered declined more than 2 percent. Lloyds Banking Group, Fresnillo as well as Barclays declined around 1.5 percent.

Amidst global market turbulence driven by AI disruption fears and tariff woes, the U.S. dollar has strengthened mildly lifting the six-currency Dollar Index to 97.87 from 97.71 at close on Monday. The GBP/USD pair has in the meanwhile edged down 0.05 percent to 1.3487. The sterling ranged between $1.3506 and $1.3470 in the day's trade. The EUR/GBP pair slipped 0.02 percent to 0.8736. Amidst the yen's weakness, the GBP/JPY pair is currently trading 0.81 percent higher at 210.29. The pair ranged between 210.73 and 208.55.

Amidst the trade tariffs related uncertainty, bond yields have hardened in the U.S. and softened in other major economies. Ten-year bond yields in the U.K. have also followed the pattern as it declined 0.35 percent to 4.30 percent, hitting its lowest level since early December 2024. The yields ranged between 4.3220 percent and 4.2920 percent over the course of the day. Yields had closed at 4.3150 percent a day earlier.