LONDON (dpa-AFX) - After opening on a weak note and drifting down further in early trades Tuesday morning, the U.K. stock market recovered some lost ground, but is still languishing in negative territory as investors appear reluctant to make big moves amid a lack of triggers.
The benchmark FTSE 100, which declined to 7,530.85, is currently down 19.58 points, or 0.26%, at 7,567.47.
On Monday, the FTSE 100 ended down 0.76%.
Among the losers in the FTSE 100 index, Micro Focus is down more than 2.5%. GlaxoSmithKline, J Sainsbury, Hikma Pharma and AstraZeneca are declining 1.3 to 1.7%.
Coca Cola, RBS, BP, DS Smith and Bunzi are also notably lower.
On the other hand, Ocado, Ferguson, Carnival, Hiscox and Taylor Wimpey are up in positive territory, gaining 0.5 to 1.2%.
Most of the markets across Europe are closed today for New Year's Eve. Among the major markets, Switzerland and Germany are closed. France is currently up with a marginal gain.
On the economic front, Britain's national minimum wage will rise by more than 6% next year, taking it to 8.74 pounds ($11.49) an hour, the government announced on Tuesday.
On the Brexit front, Phil Hogan, the EU trade commissioner has reportedly said Boris Johnson will be forced to U-turn on his refusal to extend the post-Brexit transition period beyond the end of 2020, and branded it a 'stunt'.
Hogan warned the prime minister his 'have our cake and eat it' rhetoric would be exposed as false once the hard reality of the negotiations bites in the new year.
Copyright RTT News/dpa-AFX
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