(Reuters) – The FTSE 100 slipped on Tuesday, as gains in the pound and declines in travel and leisure stocks kept a recovery from the previous session’s selloff in check, while the midcap index regained ground.
The blue-chip index FTSE 100 lost 0.2% at 1100 GMT, on track for a sixth straight session of decline, if losses hold.
Travel stocks weighed on the benchmark index, with British Airways owner IAG falling 4% after Delta Air Lines halved its first-quarter profit forecast and flagged a weakening environment due to U.S. economic uncertainty.
Holiday Inn owner IHG dropped 3.3%. The overall travel and leisure sector fell 2.3%, leading sector declines.
Sterling rose about 0.4% against the dollar, adding to losses on the export heavy index.
The midcap FTSE 250 gained 0.4%, picking up from the near two-month low hit in Monday’s session, as investors paused for breath after a steep equity selloff. [MKTS/GLOB]
Market sentiment, however, remained cautious amidst ongoing uncertainties surrounding U.S. tariff policy and the outlook for global economic growth.
In the UK, the homebuilder sector rose 2.2%, led by gains in Persimmon, up 2.1%, after the company said it would build more homes after 2024 profit beat estimates.
Heavyweight Shell PLC and BP also added to the gains in the index, after oil prices pared earlier losses[O/R]
Rotork Plc gained 6.7%, boosting the midcap index, after the industrial group’s deal to acquire South Korean electric actuator manufacturer Noah Actuation for 44 mln pounds ($56.8 mln) and announcement of a share buyback plan.
Inter-dealer broker TP ICAP rose 2.7%, on plans to list its data business.
Dominos Pizza’s Group lost 4% in volatile trading, after forecasting annual core profit in line with expectations.
On the macro front, surveys of retailers and consumers showed that British consumer spending slowed last month. The British Retail Consortium reported a 1.1% year-on-year sales increase in February, down from January’s 2.6% growth.
(This story has been refiled to fix the syntax in paragraph 8)
(Reporting by Sanchayaita Roy in Bengaluru; Editing by Shailesh Kuber)
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