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The FTSE 100 opens 7 points lower at 10,491 amid the US-Iran ceasefire extension and a slight ease in oil prices. Brent crude futures declined 0.2% to $98.27 a barrel. West Texas Intermediate (WTI) futures fell 0.3% to $89.39.
Reckitt Benckiser Group led the decline in early trade, down 5.57% to £4,644 as it recorded a weak first quarter. The revenue increased by 0.6% to £3.2 billion in Q1, though revenue at its European arm declined 4.2% to £873 million.
JD Sports Fashion declined 4.58% to £72.90 as its chair, Andrew Higginson, will step down in July after four years in the role.
Among others, Experian fell 1.48% to £19,655, while Intertek Group fell 0.65% to £4,860 and Coca-Cola Europacific Partners declined 0.56% to £7,095.
Also, Lion Finance Group dipped 0.35% to £11,360.
On the upside, Fresnillo gained 2.23% to £3,671 and Rio Tinto advanced 1.85% to £7,425, while Antofagasta rose 1.74% to £3,772.50.
Also, Croda International gained 1.50% to £3,043 and British Land edged up 1.45% to £405.30.
Following the war in the Middle East, which elevated the oil prices globally, resulting in inflation growth. Latest numbers from the Office for National Statistics (ONS) showed inflation reached 3.3% in the 12 months to March, up from 3% the month prior.
“Inflation climbed in March, largely due to increased fuel prices, which saw their largest increase for over three years,” Grant Fitzner, chief economist at the ONS, said.
Aberdeen, an investment platform, reported a decline in assets under management and advice (AUMA) after increased market volatility and outflows limited its growth. AUMA plunged to £547.7 billion from £556 billion in Q1 of the financial year.
Its adviser arm saw AUMA drop to £78.6 billion from £80.4 billion. Its investment business also took a hit with a wave of outflows as assets under management (AUM) fell to £383.4 billion from £390.4 billion.
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In the US benchmark S&P 500, blue-chip Dow Jones Industrial Average, and tech-heavy Nasdaq Composite finished Tuesday down 0.6% each.
Asian markets remained mixed, with the Hang Seng down 1.4% in Hong Kong, but Tokyo and Shanghai gauges were up 0.4-0.5%. In India, both the Nifty 50 and Sensex dropped 0.5% and 0.7%, respectively.
