FTSE 100 movers: Banks in the red; utilities gain
By Michele Maatouk
Date: Thursday 03 Apr 2025
(Sharecast News) - London's FTSE 100 was down 1.3% at 8,494.83 in afternoon trade on Thursday as investors mulled Trump's bombshell tariff announcement.
Asia-focused bank Standard Chartered was the biggest loser, closely followed by Barclays and HSBC.
On the upside, utilities - defensive stocks - were the best performers on the index, with Severn Trent, United Utilities, SSE and National Grid all higher.
Dan Coatsworth, investment analyst at AJ Bell, said: "Companies with defensive qualities were on investors' shopping lists - namely businesses whose demand should not fluctuate with changes to economic conditions.
"For example, we all need the services of utilities and tobacco is highly addictive meaning those hooked on nicotine are more likely to prioritise the last pennies in their wallet on such products."
GSK was also a high riser, along with AstraZeneca, as pharmaceutical products were exempt from Trump's tariffs.
Shore Capital analyst Dr Sean Conroy said: "It is still somewhat unclear whether the broader reaching 10% baseline tariffs could still be levied against imported drugs and vaccines, in our view. Given the globalised natural of supply chains across the industry, there had likely been some perceived risk to near-term guidance for GSK...and AstraZeneca...who had travelled poorly into 'Liberation Day', along with the broader cohort of large-cap pharmaceutical companies.
"GSK have confirmed to us no changes to their outlooks based on the available information. AZN have outlined they are assessing the implications of this announcement and believe that essential medicines should be exempt but are also actively seeking to mitigate any impact."
FTSE 100 - Risers
SSE (SSE) 1,659.00p 5.40%
Severn Trent (SVT) 2,682.00p 5.38%
United Utilities Group (UU.) 1,077.50p 5.22%
National Grid (NG.) 1,056.50p 4.81%
Tesco (TSCO) 343.50p 3.75%
GSK (GSK) 1,486.00p 3.66%
LondonMetric Property (LMP) 187.80p 3.47%
Sainsbury (J) (SBRY) 241.00p 3.43%
Land Securities Group (LAND) 567.50p 3.09%
Unite Group (UTG) 837.00p 3.08%
FTSE 100 - Fallers
Standard Chartered (STAN) 1,033.50p -10.33%
Barclays (BARC) 274.85p -7.38%
Antofagasta (ANTO) 1,561.50p -7.19%
HSBC Holdings (HSBA) 822.10p -6.90%
CRH (CDI) (CRH) 6,458.00p -6.78%
Anglo American (AAL) 2,006.00p -6.70%
Mondi (MNDI) 1,086.00p -6.66%
Smurfit Westrock (DI) (SWR) 3,353.00p -6.37%
Ashtead Group (AHT) 3,913.00p -6.16%
JD Sports Fashion (JD.) 66.70p -5.98%
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