Markets Steady Amidst Political Shifts and Sector Gains

The FTSE 100 remained steady with personal goods gaining despite real estate losses. Frasers declined due to reduced profit forecasts linked to the UK's tax policies. In politics, France faces a crisis as its government collapses, while the U.S. sees stable economic growth amidst potential slower interest rate cuts.

The FTSE 100 index saw little change on Thursday, with gains in the personal goods sector curbed by losses in real estate. Notably, Frasers' drop to a two-year low after cutting its profit forecast marked a significant movement in the market.

The index recorded a slight rise of 0.1%, contrasting with a 0.1% dip in the midcap FTSE 250. Highlighting personal goods, Watches of Switzerland surged 8.5%, reaching a ten-month high by confirming its 2025 forecast. Conversely, Frasers fell 13.4% following concerns over consumer confidence amid new government tax policies.

Real estate bore the brunt of sectoral losses, with British Land's shares dropping significantly. Meanwhile, Future led the midcap with gains after announcing a large share buyback.

(With inputs from agencies.)