FTSE 100 Holds Steady as Tariff Worries Impact Midcaps
(Reuters) -British stocks ended mixed on Thursday, with the benchmark index flat amid U.S. tariff concerns, while downbeat corporate results further dragged down the midcap index.
The benchmark FTSE 100 ended flat, paring gains from Wednesday's rise sparked by positive Ukraine-Russia developments. Russian President Vladimir Putin said on Thursday that his country agrees with proposals for a ceasefire, but many details need to be sorted out.
The midcap FTSE 250 fell 1% to its lowest closing level since last April.
Worries about the impact of U.S. trade policy continued to keep investors on edge, with President Donald Trump threatening a 200% tariff on all wines and alcoholic products from EU countries.
Meanwhile, a survey showed that Britain's housing market had its slowest month in more than a year in February. Homebuilder stocks were down 2.1%.
NatWest Group lost 2.7% as the UK government sold a further 89 million shares in the lender, making it no longer the company's largest shareholder.
C&C Group lost 19%, weighing on the FTSE 250, on a lower annual profit forecast.
Trainline dropped 13.2% to a 15-month low, after the British rail ticketing company missed annual revenue estimates.
Savills lost 8.6%, hitting a more than one-year low, as the lack of a turnaround plan disappointed investors.
Vodafone Group jumped 4.6% to the top of the FTSE 100 after declining for two consecutive sessions.
Ventilation products supplier Volution gained 12.7%, hitting a three-month high on an upbeat full-year forecast.
Precious metal miners led sectoral gains, rising 1.6% as safe-haven gold prices rose more than 1% to an all-time high after bets on the Federal Reserve's monetary policy easing kept bullion's appeal strong.
(Reporting by Sanchayaita Roy in Bengaluru; Editing by Maju Samuel)
