London's FTSE 100 flat as banks limit healthcare gains; Mideast in focus

London's FTSE 100 ends lower as healthcare weighs; Mideast in focus

FTSE 100 Market Performance and Key Sector Movements

April 15 (Reuters) - London's FTSE 100 closed lower on Wednesday as healthcare and consumer-facing stocks weighed, while investors cautiously awaited developments in the Middle East.

The blue-chip FTSE 100 index ended 0.5% lower, in its biggest one-day decline in over a week, while the midcap FTSE 250 slipped 0.3%.

Geopolitical Factors and Market Sentiment

• Middle East Developments

  U.S. President Donald Trump said the war was close to over, as officials from mediator Pakistan arrived in Tehran. A separate report said the U.S. and Iran were weighing an extension to the ceasefire.

• Oil Prices and Energy Stocks

  Oil prices were little changed on Wednesday, holding below $100 a barrel. British energy stocks inched 0.8% lower.

Sector Performance

• Banks

  Banks pared most declines and closed 0.2% lower. They were the biggest drags earlier in the session.

• Healthcare Stocks

  Healthcare stocks, which were the biggest boosts earlier, dragged down the index, with GSK losing 2.7%.

• Personal Goods Sector

  Burberry and Peers

  The personal goods sector was hurt by a 2.2% drop in Burberry after results from its peers, Kering and Hermes, disappointed investors.

• Precious Metal Miners

  Precious metal miners were the biggest percentage decliners, down 2.2%, as gold inched lower.

Corporate Updates and Earnings

• Investor Focus

  Investors also turned their attention to corporate updates and earnings to see how companies approach tackling headwinds from the Middle East conflict.

• Antofagasta

  Antofagasta said copper production was expected to rise quarter-on-quarter through the year. The stock, however, pared early gains to close marginally higher.

• Saga

  Saga climbed 6% after the over-50s holiday and insurance group said it was ahead of schedule to reach its medium-term profit targets.

• Barratt Redrow

  Britain's largest homebuilder, Barratt Redrow, slashed its land spending and approval targets, but its shares were 3.5% higher.

(Reporting by Purvi Agarwal in Bengaluru; Editing by Maju Samuel)