FTSE 100 Falls as Market Declines Continue

Global stock markets extended their declines on Tuesday as concerns over lofty U.S. artificial intelligence valuations continued to weigh on investor sentiment. 

The FTSE 100 fell 0.9% in early trading, mirroring weakness across Europe, where Germany’s DAX dropped 1.1% and France’s CAC 40 slid 1.3%. 

U.S. index futures were also in negative territory, adding to the downbeat tone.

Despite the broader sell-off, some FTSE 100 constituents posted gains. ICG surged 9.1% after reporting robust growth, with assets under management rising to $124 billion. 

Fee-earning AUM climbed 6% in the half year to $84 billion, with a five-year annualised growth rate of 14%. 

The group also announced a long-term strategic partnership with Amundi aimed at expanding the development and distribution of private markets products for wealth investors.

Imperial Brands rose 2.4% as investors welcomed solid full-year results. Increased demand for smoking alternatives, including oral nicotine, and higher cigarette prices helped lift adjusted operating profit by 4.6%. 

Revenues fell 0.7% to £32.2 billion, but grew 4.1% when stripping out duties and currency effects.

AstraZeneca added 1.8%, rounding out the morning’s top performers.

The mining sector dragged on the index, with Fresnillo down 6% and Anglo American off 4.1% amid renewed pressure on commodities. ConvaTec also fell sharply, dropping 3.9%.

The continued decline across major indices underscored mounting investor caution as the rally driven by AI-linked stocks shows signs of strain.