National Grid Shares Slip 0.3% as US Rejects Iran Offer, FTSE Fluctuates
UK’s FTSE 100 fluctuated within a 30-point range, sliding 0.2% before rebounding to flat after the US rejected Iran’s nuclear deal counter-offer. National Grid shares fell 0.3% as utilities underperformed while energy stocks gained 0.6%.
1. Mixed FTSE Trading
The FTSE 100 oscillated in a 30-point band during morning trading, initially sliding 0.2% on risk-off sentiment after Washington dismissed Iran’s latest nuclear deal proposal before recovering to flat on renewed buying interest.
2. Sector Performance Diverges
Energy stocks led gains with a 0.6% rise as oil prices edged higher, while defensive utilities lagged; National Grid shares dropped 0.3% amid sectorwide profit-taking following recent outperformance.
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