UK's FTSE 100 closes around flat as staples, healthcare losses eclipse energy gains (updated)
02/06/2025 17:25
For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.
Both FTSE 100 and FTSE 250 end flat
UK defence stocks gain ahead of defence review
Aberdeen Group gains after Goldman Sachs upgrades rating
UK lenders approve fewest mortgages since February 2024
Updates after markets close
June 2 (Reuters) - Britain's blue-chip benchmark ended flat on Monday, as losses in consumer staples and healthcare shares offset gains in heavyweight energy shares, with investors' focus on global trade after U.S. President Donald Trump's latest tariff threat.
The blue-chip FTSE 100 .FTSE ended flat at 8,774.26 points, sitting less than 1% away from its all-time high seen in March.
Energy heavyweights Shell SHEL.L and BP BP.L rose close to 1% each, tracking a 3% surge in crude oil prices after producer group OPEC+ kept output increases in July at the same level as the previous two months.
Shares of defence firm Babcock International BAB.L jumped 8.2%, while BAE Systems BAES.L - Europe's biggest defence company - added 1% ahead of the publication of Britain's Strategic Defence Review.
A gauge of precious metal miners .FTNMX551030 advanced 6.2% as gold prices touched a more than three-week high on the back of a weaker dollar and the lingering global tariff uncertainty.
Trump announced on late Friday his plans to increase tariffs on imported steel and aluminium to 50% from 25%, prompting the European Union to warn of potential retaliation.
British equities had a strong May performance, as easing trade tensions and Trump's softening stance on tariffs encouraged a global shift into riskier assets.
Sentiment had also been boosted after the U.S. and Britain announced a limited trade agreement earlier in May.
On Monday, big dollar earners AstraZeneca AZN.L and Unilever ULVR.L were top drags on the FTSE 100 as the pound GBP= firmed 0.6% against the U.S. currency.
The number of mortgages approved by British lenders for house purchase fell more than expected in April to their lowest in more than a year. A gauge of homebuilders .FTNMX402020 dropped 1.2%.
A separate reading showed British manufacturing's downturn was less severe than initially feared in May, though output, orders and jobs still declined.
Asset manager Aberdeen Group ABDN.L climbed 4.2% after Goldman Sachs upgraded the stock's rating to "buy" from "neutral".
(Reporting by Ragini Mathur and Shashwat Chauhan in Bengaluru; Editing by Shailesh Kuber and Alex Richardson)
((Ragini.Mathur@thomsonreuters.com; Shashwat.Chauhan@thomsonreuters.com))
For related prices, Reuters users may click on - * UK stock report .L FTSE index: 0#.FTS6 techMARK 100 index: .FTT1X FTSE futures: 0#FFI: Gilt futures: 0#FLG: Smallcap index: .FTSC FTSE 250 index: .FTMC FTSE 350 index: .FTLC Market digest: .AD.L Top 10 by vol: .AV.L Top price gainers: .NG.L Top % gainers: .PG.L Top price losers: .NL.L Top % losers: .PL.L
* For related news, click on - * UK hot stocks: HOT and GB Wall Street: .N Gilts report: GB/ Euro bond report GVD/EUR Pan European stock report: .EU Tokyo stocks: .T HK stocks: .HK Sterling report: GBP/ Dollar report: USD/
* For company prices, click on - * Company directory: UKEQ By sector: FTAX
* For pan-European market data, click on - * European Equities speed guide................ EUR/EQUITY FTSE Eurotop 300 index........................... .FTEU3 DJ STOXX index................................... .STOXX Top 10 STOXX sectors........................ .PGL.STOXXS Top 10 EUROSTOXX sectors................... .PGL.STOXXES Top 10 Eurotop 300 sectors.................. .PGL.FTEU3S Top 25 European pct gainers.................... .PG.PEUR Top 25 European pct losers..................... .PL.PEUR