FX.co ★ UK Stocks Post Marginal Loss

The FTSE 100 closed slightly lower at 9,692 on Wednesday, marking the third consecutive session of modest declines. The decrease was largely driven by the retail and financial sectors. Sainsbury’s shares dropped nearly 4% following the announcement by its largest shareholder, Qatar’s sovereign wealth fund, of its intention to sell £300 million worth of shares in the supermarket chain, where it holds a 10.5% stake. Other retailers, including Marks & Spencer and Tesco, also experienced declines. In the financial sector, NatWest Group and Standard Chartered fell by 2.8% and 2.4%, respectively. Conversely, mining companies saw gains due to rising copper prices, with Glencore climbing 6.3%, Antofagasta up by 4.9%, Anglo American increasing by 2.5%, and Rio Tinto growing by 1.6%. Defense stocks also moved upward, led by Rolls-Royce, which rose 1.6%, and Babcock International, which gained 1.5%, following unsuccessful US-Russia talks in Moscow regarding a potential peace deal for Ukraine.