FX.co ★ FTSE 100 Edges Up

On Tuesday, the FTSE 100 saw modest gains, faring better than its European peers. This uptick was fueled by significant advances in consumer staples and food retail sectors, with notable performance from companies such as Sainsbury’s, Tesco, M&S, Unilever, and Reckitt Benckiser. In business developments, DCC publicized the sale of its healthcare division for £1.05 billion, while AstraZeneca shared encouraging outcomes from trials of its breast cancer medication, Enhertu. Additionally, ITM Power revised its revenue projections upwards, exceeding prior expectations. Despite these positive developments, market sentiment remains wary due to apprehensions about a potential global trade conflict. Tensions heightened as China issued warnings of reprisal against nations aligning with US initiatives to marginalize it. These concerns followed a decline on Wall Street, sparked by President Trump's increased pressure on Federal Reserve Chair Jerome Powell.