FX.co ★ FTSE 100 Pulls Back from Record Level

The FTSE 100 experienced a slight decline on Tuesday, retreating from its approach to the record highs near the 9000 mark. The downturn was led by homebuilders, with Barratt Redrow's shares dropping 6.8% following a weak trading update. B&M shares also fell sharply by 6.6%, attributed to disappointing performance, as analysts noted underwhelming sales and soft margins despite favorable weather conditions. Conversely, WPP's shares increased by 3.2% amid speculation surrounding potential mergers and acquisitions, particularly after reports of ongoing discussions with consulting powerhouse Accenture. GSK also saw gains due to positive sentiment around its blood cancer medication, Blenrep, ahead of a significant regulatory meeting in the US. Meanwhile, Experian reached a record high, advancing by 5.2% after robust quarterly results led analysts at Jefferies to suggest that consensus predictions might be revised upwards.