U.K. stocks ended Tuesday's trading session slightly in the red, with the United Kingdom 100 index finishing down 0.03% following broad weakness in the Fixed Line Telecommunications, Real Estate Investment Trusts (REITs) and Automobiles & Parts sectors.
The session's top performers were led by ConvaTec Group PLC (LON:CTEC), which jumped 10.40% - a rise of 23.60 points - to close at 250.60. Croda International PLC (LON:CRDA) also posted a strong advance, adding 7.61% or 227.00 points to finish at 3,212.00. B&M European Value Retail SA (LON:BMEB) rounded out the gainers list, rising 3.53% or 6.65 points to end the day at 195.05.
On the downside, Unite Group PLC (LON:UTG) led the decliners, sliding 14.29% or 82.60 points to close at 495.40. The stock fell to 5-year lows in the move. Melrose Industries PLC (LON:MRON) dropped 4.39% or 29.40 points to finish at 640.40, while Rentokil Initial PLC (LON:RTO) declined 2.96% or 13.60 points to a close of 445.70.
Market breadth on the London Stock Exchange showed more advancing issues than decliners, with 937 stocks higher versus 810 lower and 560 ending unchanged.
Commodities and currencies
In commodities trading, Gold Futures for April delivery was down 1.05% or 54.89 to $5,170.71 a troy ounce. Crude oil for delivery in April fell 0.44% or 0.29 to hit $66.02 a barrel, while the May Brent oil contract lost 0.35% or 0.25 to trade at $70.86 a barrel.
Currency movements were subdued. GBP/USD was unchanged 0.24% to 1.35, while EUR/GBP was unchanged 0.27% to 0.87. The US Dollar Index Futures was up 0.06% at 97.69.
Key takeaway
The U.K. market finished broadly flat to slightly lower as sector-specific weakness in telecoms, REITs and auto parts offset strong individual stock performances among select mid-cap names.
Summary
- The United Kingdom 100 closed down 0.03%.
- Top gainers included ConvaTec, Croda International and B&M European Value Retail.
- Key decliners included Unite Group, Melrose Industries and Rentokil Initial; Unite fell to a 5-year low.
- Gold, crude and Brent all moved lower; major currency pairs were largely unchanged.