Source: Sharecast
At 0850 BST, the FTSE 100 was down 0.1% at 9,444.21, underperforming peers in Europe, where the Stoxx 600 benchmark index rose 0.7% and France’s CAC 40 gained a whopping 2.4% as LVMH led the luxury sector higher after solid quarterly results.
Neil Wilson, UK investor strategist at Saxo Markets, said: "The FTSE 100 is largely tracking sideways after the latest pullback, but is still up 2% in the last month."
Investors mulled the latest comments from US President Donald Trump, who suggested on Tuesday that he was considering ending certain trade ties with China, including cooking oil imports, as a response to reduced US soybean purchases by China.
Danske Bank said: "The move highlights escalating trade tensions, with Washington and Beijing already at odds over tariffs, supply chains, and broader geopolitical issues."
Across the Pond, the earnings season will continue, with results due from Bank of America and Morgan Stanley following a raft of bank earnings on Tuesday.
In UK equity markets, luxury fashion brand Burberry shot to the top of the FTSE 100 after third-quarter numbers from France’s LVMH impressed.
Pets at Home was faring well, up nearly 4% after the Competition and Markets Authority said vets could be made to publish prices so customers can look around for the best deal.
Derren Nathan, head of equity research at Hargreaves Lansdown, said: "The Competition and Markets Authority’s provisional decision from the delayed investigation into the veterinary industry shouldn’t provoke too many barks and howls from the major operators. Price caps look to be limited to prescriptions with an upper limit of £16 per vet slip, around 20% below the current average.
"Other measures include a regulated comparison website, comprehensive price lists, upfront cost estimates for treatment plans, and transferable prescriptions allowing pet owners to shop around for better prices online. More visible signposts on practice ownership are also in the mix, allowing better information for animal lovers who prefer to give their business to local independent providers.
"The outcome is broadly as expected, but with no major negative surprises should alleviate the uncertainty that’s been weighing on consumer and investor sentiment. That’s seen a share price increase for Pets at Home, with its growing veterinary offer, and a bigger spike for CVS Group, which is more of a pure play on the industry. That said, the line under the matter has only been pencilled in so far. A further consultation is underway and a deadline for publication of the final decision has been set for March 2026."
Elsewhere, recruiter PageGroup gained as it reported a drop in third-quarter profit amid a more challenging market in Europe, but said 2025 operating profit was expected to be broadly in line with current market consensus of £21.5m.
British Land also rallied on the back of a well-received trading update.
On the downside, gambling and gaming giant Entain fell even as it reiterated its full-year guidance, despite a slew of customer-friendly results during the third quarter.
