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London's FTSE 100 Flat as Banks Limit Healthcare Gains; Mideast in Focus

April 15 (Reuters) - London's ​FTSE 100 was muted on Wednesday as declines in ‌heavyweight financials and energy stocks limited gains in healthcare stocks, while investors cautiously awaited developments in the Middle East conflict.

The blue-chip FTSE 100 index was ​flat at 10,611.03 points by 0957 GMT, while the midcap ​FTSE 250 slipped 0.1%.

  • Investors assessed conflicting signals around the ⁠Iran conflict as U.S. President Donald Trump said peace talks ​could resume this week even as Washington halted Tehran's maritime trade.

  • Oil prices ​were little changed on Wednesday, holding below $100 a barrel. British energy stocks inched 0.1% lower.

  • Financial stocks were the biggest drags on the FTSE 100, with banks ​down 0.4% and life insurers off 0.8%. HSBC and Prudential ​shed 0.6% and 1.8%, respectively.

  • On the flip side, healthcare stocks gained, with AstraZeneca ‌up ⁠1%.

  • The personal goods sector was the biggest percentage decliner, dragged by a 1.3% drop in Burberry after results from peers Kering and Hermes disappointed investors.

  • Comments from Bank of England Governor Andrew Bailey will be ​parsed later in ​the day.

  • Investors also ⁠turned their attention to corporate updates and earnings to see how companies approach tackling headwinds from ​the Middle East conflict.

  • Antofagasta topped the FTSE 100 with ​a ⁠2.9% gain after it said copper production was expected to rise quarter-on-quarter through the year

  • Saga climbed 10.7% after the over-50s holiday and insurance ⁠group ​said it was ahead of schedule to reach ​its medium-term profit targets.

  • Britain's largest homebuilder Barratt Redrow slashed its land spending and approval targets, ​but its shares were 1.6% higher.

Reporting by Purvi Agarwal in Bengaluru

Source: Reuters


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