Market Analysis

London stocks opened lower on Tuesday, following declines in Asian markets amid cautious remarks from U.S. Federal Reserve officials regarding inflation. The FTSE 100 (.FTSE) dropped 0.4% to 8,390.38 points by 7:06 GMT, marking its largest decline in over a month, while the mid-cap FTSE 250 (.FTMC) also slid 0.4%.

Investor sentiment weakened as Fed officials refrained from confirming that inflation would meet their targets, prompting a decline in commodity prices. Traders remained cautious ahead of insights expected from Bank of England Governor Andrew Bailey later in the day and the upcoming release of domestic consumer prices (CPI) data on Wednesday.

Market attention also focused on Nvidia's (NVDA.O) quarterly results, which are anticipated to impact broader market trends given the current interest in artificial intelligence. AstraZeneca (AZN.L) bucked the trend, rising 1.2% after announcing expectations to achieve $80 billion in total revenue by 2030.

On the FTSE 250, Dowlais Group (DWL.L) led losses with a 5.1% decline following a warning from the GKN automotive owner about anticipated lower revenue in 2024.

Paraphrasing text from "Reuters" all rights reserved by the original author.