The FTSE 100 index closed Tuesday down 0.15% at 7721 points, slipping from its seven-month high and in line with global peers. The blue-chip index's first day of trading in 2024 was mainly dragged by financial stocks, while nearly all stocks closed in negative terrain, with miner Fresnillo being the worst performer as shares closed down 3.9%. Shares of Diploma, supplier of specialized technical products and services, was down 3.7%, while St. James's Place shares slipped 3.6%. Pharmaceutical heavyweights GSK and AstraZeneca led a short group of risers, with shares up 2.0% and 1.8%, respectively.

COMPANIES NEWS:

Airtel Africa CEO Olusegun Ogunsanya to Retire July, Sunil Taldar Named Replacement

Airtel Africa said that Chief Executive Officer Olusegun Ogunsanya will retire from his role on July 1 and be replaced by Sunil Taldar.

MARKET TALK:

European Stocks Gain Despite Downbeat PMI Data; US Set to Slip

1114 GMT - European stocks mostly rise despite downbeat economic data, though Wall Street looks set to edge lower. The Stoxx Europe 600 and CAC 40 gain 0.1% and the DAX advances 0.4%, but the FTSE 100 trades flat. The Eurozone manufacturing PMI from HCOB and S&P Global rose to 44.4 in December, from 44.2 in November, still below the 50 level indicating growth. Meanwhile, the seasonally adjusted S&P Global U.K. Manufacturing PMI fell to 46.2 from 47.2 beforehand, showing manufacturing output contracting faster in late 2023. "With concerns about high interest rates and the cost-of-living crisis hurting demand, the outlook for [U.K.] manufacturers in the months ahead remains decidedly gloomy," S&P's Rob Dobson writes. IG futures data shows the Dow opening at 37681, versus 37689 previously. (philip.waller@wsj.com)

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Next's Sales Growth Bucks Sector Trend

1046 GMT - Next's 4Q full-price sales growth will be analysts' main focus following better-than-expected growth of 4% in 3Q, AJ Bell investment director Russ Mould and head of financial analysis Danni Hewson say in a note. While many British competitors blamed the impact of the weather for lower sales during 2023, the fashion retailer has raised guidance for both sales growth and profit on at least four occasions in the past nine months, the analysts highlight. Next is scheduled to publish its 4Q results on Thursday. Shares are up 0.02% at 8,120 pence, and 40% on a 12-month basis. (michael.susin@wsj.com)


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(END) Dow Jones Newswires

01-02-24 1214ET