FTSE 100 Opens Firm Despite US Tariff Threat, Defensive Stocks Rise

The FTSE 100 index began the day with a moderate gain, despite US President Donald Trump's threat to impose tariffs on copper and pharmaceuticals. The index rose 16 points to 8,870 within the first hour of trading, driven by defensive stocks such as cigarette makers British American Tobacco and Imperial Brands. However, miners including Antofagasta, Glencore, and Anglo American declined on concerns about the US copper tariff.

Key Takeaways:

• The FTSE 100 opened 16 points higher at 8,870, a gain of about 0.2% despite the US tariff threat.
• Defensive stocks British American Tobacco and Imperial Brands were among the top risers, with some experiencing near 1% gains.
• Miners Antofagasta, Glencore, and Anglo American declined over 2% due to concerns about the US copper tariff.
• WPP PLC, an advertising and marketing giant, saw its shares drop sharply after issuing a profit warning due to a tougher economic environment.
• Close Brothers Group PLC and Zigup PLC were the biggest fallers on the FTSE 250, with shares dropping almost 7% and 8% respectively within the day.

Statistics:

• The FTSE 100 index rose 16 points to 8,870 within the first hour of trading.
• The index experienced a gain of about 0.2% despite the US tariff threat.
• Defensive stocks British American Tobacco and Imperial Brands rose near 1% within the day.
• Miners Antofagasta, Glencore, and Anglo American declined by over 2% due to the US copper tariff threat.
• WPP PLC saw its shares drop by an unspecified amount after the profit warning.
• Close Brothers Group PLC saw its shares drop almost 7%.
• Zigup PLC saw profit decline by 8% for the past year and its outlook remained unchanged.

Sources:

• "FTSE 100 opens firmer, despite US tariff threat."
• "WPP shares drop on profit warning."