FX.co ★ UK Stocks Edge Down

The UK’s FTSE 100 index experienced a decline on Wednesday, settling at approximately 8,450 points. This downturn was largely influenced by underperformance in the mining and financial sectors. Notable drops were seen in Glencore, Anglo American, and Antofagasta, with shares dipping by 9.2%, 5.8%, and 5.3% respectively, following an underwhelming production report from Glencore for the first quarter. Taylor Wimpey also saw a decrease after forecasting weaker margins for the first half, while Prudential's shares fell by 3.3% even though it maintained its full-year outlook. Additionally, banking stocks faced downward pressure. On a positive note, Smith & Nephew surged by 7.5%, reaching the highest point on the index after it reaffirmed its 2025 forecast, despite anticipating a net impact cost ranging from $15 to $20 million due to U.S. tariffs. Furthermore, Coca-Cola and GSK reported earnings that surpassed expectations.