02.09.202507:20:52UTC+00FTSE 100 Hits Two-Week Low as BAT Downgrade Weighs

On Tuesday, the FTSE 100 index in London declined by 0.3%, reaching 9,170, which marks its lowest point since August 18. This drop reflects investor concerns about the upcoming UK autumn budget and its implications for fiscal policy. Global sentiment remained cautious as attention turned to forthcoming labor market data in the US. Notably, British American Tobacco experienced a decline of over 2% following a downgrade by RBC Capital Markets to "underperform." Meanwhile, Centrica saw a nearly 1% decrease after announcing the extension of the operational life of its Heysham 1 and Hartlepool nuclear plants until March 2028. In contrast, mining companies focusing on precious metals performed well, buoyed by record-high gold prices. This increase in gold value was driven by the expectation of potential Federal Reserve interest rate cuts and concerns about the central bank's autonomy. Endeavour surged to a new record high, while Fresnillo reached its peak since 2016.