U.K. Shares Lose Momentum Ahead of Trump’s Address
Feb, 28th 10:49
U.K. shares struggled for direction on Tuesday as investors were cautious ahead of U.S. President Donald Trump’s first address a joint session of Congress.
The FTSE 100 index swung back and forth between gain and loss amidst rising speculations about Trump’s plans for spending on infrastructure and cutting tax which are expected to be made clear in his speech due after the close of London trading.
Leading the market, shares of aerospace and defense group Meggitt soared considerably by more than 11% after the company announced the plan to raise dividend. Babcock International Group was the second biggest gainer with its shares jumped by 4.3% on the back of upgraded 2017 outlook.
At the bottom of the pile, miner shares declined. Shares of Randgold Resources PLC lost almost 3% while those of BHP Billiton PLC edged 1.36% lower. Fresnillo PLC and Anglo American PLC also found their equities on a decline.
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