FTSE 100 Steadies Amid Global Market Turmoil: A Healthcare Boost

The FTSE 100 index in London edged up 0.1% on Tuesday, resisting the global market downturn due to healthcare gains and a weaker sterling. Conversely, the midcap index dropped 0.5%, beset by declines in metal mining and financial stocks. Germany and France mirrored the decline, while the UK’s healthcare sector offered pivotal support.

London's FTSE 100 closed Tuesday with a modest increase despite a widespread decline in global markets, buoyed by robust healthcare stocks and a weaker pound. The index rose by 0.1%, standing resilient against a negative wave affecting European and U.S. markets.

However, the midcap index extended its losses for the seventh consecutive session, declining by 0.5%. Metal miners suffered as the strong dollar pushed down gold and copper prices, causing mining sectors to fall over 1.7%. Financial stocks faced challenges too, with insurers and investment-banking shares falling 1.3% and 0.3%, respectively.

The broader market sentiment was bleak, with both Germany and France suffering losses. The pan-European STOXX 600 touched its lowest mark since mid-October, and U.S. stocks also traded lower. In the UK, healthcare sector gains of 1.3% were pivotal in offsetting these declines. Additionally, Chancellor Rachel Reeves' cautionary speech on economic choices further influenced the market atmosphere, while energy stocks gained slightly.

(With inputs from agencies.)