FX.co ★ FTSE 100 Little Changed on Tuesday

On Tuesday, the FTSE 100 closed with minimal movement as gains in defensive stocks balanced out declines in the mining and energy sectors amidst renewed trade tensions. Investor sentiment was affected by China's decision to impose restrictions on the U.S. operations of South Korea’s Hanwha Ocean, intensifying fears of further conflicts involving Washington. EasyJet emerged as a notable performer, soaring over 8% after reports surfaced suggesting that Italy’s Mediterranean Shipping Co might be deliberating a takeover bid. In the mining sector, shares of Anglo American dropped by over 3%, Antofagasta by more than 2%, and Glencore by 1.5%, while Rio Tinto remained steady after announcing a 10% year-on-year increase in third-quarter copper production. BP's shares declined about 1.7% following a warning of impairment charges up to $500 million for the third quarter, in advance of its November earnings report. Meanwhile, labor market statistics revealed an unemployment rate of 4.8%, the highest since May 2021, bolstering predictions of interest rate cuts by the Bank of England.