The U.K. stock market closed in negative territory on Tuesday, with the FTSE 100 Index falling by 0.20% to 7,437.93.
Declines in Retail and Services Companies
Several FTSE 100 constituents experienced significant drops in share prices. B&M European Value Retail S.A. took the biggest hit, with shares falling by 3.39%. Chemicals firm Croda International PLC and general services company Ashtead Group PLC also saw declines of 3.37% and 2.89%, respectively.
Food Retail Companies Also Suffer Losses
Tesco PLC and Ocado Group PLC, two major food retail companies, were among the top five decliners. Their stocks fell by 2.84% and 2.39%, respectively.
Hotels Company Whitbread PLC Sees Gains
In contrast to the overall downward trend, hotels company Whitbread PLC experienced a significant increase in share prices. Their stocks rallied by 2.30% on Tuesday.
Positive Performance for Oil, Gas, and Communications Companies
BP PLC, a major oil and natural gas firm, saw its shares rise by 1.95%, while air freight company International Distribution Services PLC experienced a 1.60% increase.
InterContinental Hotels Group PLC and Vodafone Group PLC were among the top five gainers. Their stocks rallied by 1.44% and 1.38%, respectively.
Currency and Commodity Movements
The pound showed a slight decline of 0.36% against the dollar, trading at $1.2583. However, it strengthened against the euro, rising by 0.29% to €1.1730.
Brent crude oil prices increased by 2.3% to $91.02 per barrel. The yield on the 10-year gilt also rose by 5.700 basis points to 4.525%.
