FTSE 100 Edges Higher In Cautious Trade
2024-09-26
1058
(fxcue news) - U.K. stocks were slightly higher on Tuesday after falling sharply in the previous session.
Underlying sentiment remained cautious after a survey showed activity in the U.K. manufacturing sector expanded at a slower pace in September.
Separately, the British Retail Consortium said that prices in British shops fell at the fastest pace in more than three years in the month, as firms continued to cut prices in a bid to attract customers.
The benchmark FTSE 100 was up 24 points, or 0.3 percent, at 8,261 after falling 1 percent on Monday.
Mulberry Group shares were up 1 percent. The luxury handbag maker has rejected a conditional bid from Mike Ashley's Frasers Group, after consulting with its financial and legal advisers and the majority shareholder, Challice Limited.
Energy stocks such as BP Plc and Shell were down 0.7 percent and half a percent, respectively as crude oil futures retreated in European trade on demand worries.
Greggs slumped nearly 4 percent after the bakery chain reported a slowdown in underlying sales growth during its most recent quarter.
Shares of iomart Group were down almost 10 percent after the Scottish IT company warned on first half and fiscal 2025 results.
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