London stocks closed lower on Monday as investors digested a revised timeline for US tariffs.
Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick confirmed that duties will now take effect on August 1, later than the previously threatened July 9 deadline. The shift adds a brief reprieve, but nerves remain high with Trump vowing to reinstate steep levies if no deals are reached.
The FTSE 100 fell 0.2% to 8,806.53. The FTSE 250 dipped 0.1% to 21,538.48, while the AIM All-Share lost 0.2% to 771.96.
Glencore fell 1.3% despite launching a $1 billion buyback programme. The commodities group is returning capital from an investment windfall while bracing for potential tax changes. The buyback was flagged last week.
Hollywood Bowl rose 3.0% after starting a £5 million buyback running through to the end of September. The firm cited its strong balance sheet and cash-generative model.
Primary Health Properties added 0.3% after reporting a 3.1% increase in net rental income to £78.6 million for the first half. Dividends rose 2.9%. PHP also said its planned takeover of Assura may involve a new joint venture focused on private hospitals.
Jarvis Securities soared 21% after selling its retail brokerage business to Interactive Investor for up to £11 million. The company plans to wind down remaining operations and delist from AIM.
US stocks were in the red as the revised tariff timeline offered little relief. The Dow Jones fell 0.7%, the S&P 500 lost 0.6%, and the Nasdaq slipped 0.7%.