08-07-2025
UK shares trade flat as investors assess latest tariff updates, company news
July 8(Reuters) - London's main indexes were little changed on Tuesday, with investors focusing on the latest tariff updates and a mixed bag of corporate news.
Both the blue-chip FTSE 100 (.FTSE), opens new tab and the domestically focussed mid-cap index (.FTMC), opens new tab were flat by 1000 GMT
U.S. President Donald Trump told 14 nations on Monday, including Japan and South Korea, that they face 25% tariffs from the new deadline of August 1, but also hinted at opportunities for further negotiations.
Britain and Vietnam remain the only nations to have struck a deal and avoid the new levies, which are separate from existing tariffs on autos, steel and aluminium.
Sectoral gains were led by precious metal mining (.FTNMX551030), opens new tab stocks, which rose 2.3% as gold prices remained steady, with Hochschild (HOCM.L), opens new tab adding 4.1%, while Fresnillo (FRES.L), opens new tab and Endeavour Mining (EDV.L), opens new tab gained 2.5% and 1.6%, respectively.
Industrial metals (.FTNMX551020), opens new tab also rose with copper prices edging higher. Glencore (GLEN.L), opens new tab was up 2.9%, while Anglo American (AAL.L), opens new tab and Antofagasta (ANTO.L), opens new tab were marginally up.
On the flipside, personal goods (.FTNMX402040), opens new tab index fell 1.5%, weighed down by luxury brand Burberry (BRBY.L), opens new tab dropping over 2%.
Among individual stocks, Victrex (VCTX.L), opens new tab was the bottom performer on the midcap index. The polymer manufacturer's shares fell 8.7% after it appointed a new CEO and gave a tepid second-half profit outlook.
Meanwhile, mining giant Rio Tinto's (RIO.L), opens new tab yet-to-be-named CEO should be open to merger and acquisition deals along with sharpening productivity and cost cuts, sources told Reuters. The news gave mining shares a marginal boost.
Fast fashion retailer Shein has filed for an IPO in Hong Kong to accelerate its listing process and pressure Britain's regulators to approve its London debut, the Financial Times reported on Tuesday.
The UK stock market has lost out on major IPOs in recent months as companies have changed their plans amid investor pushback on market valuations.
UK GDP data is expected later this week.
