The FTSE 100 Index, the listing for the 100 largest PLCs on the London Stock Exchange (LSE), was down by approximately 1% as the market closed on the 30/01/2017. Tesco PLC was the biggest loser, with its stock price declining by more than 4%, falling by around 7.50p to 197.8p.
In recent days, Tesco’s stock appreciated due to reports of its planned acquisition of food wholesaler, Booker Group PLC, which is listed on the FTSE 250.
The FTSE 100 Index ended the trading day down by 66 points. Some firms listed on the FTSE 100 saw their share price gain today; Vodafone’s stock rallied by 1.3% today, due to merger talks in India.
An article published on the BBC explained why many indices were down today, reading “Most major stock markets around the world fell after President Donald Trump’s decision to impose a travel ban on seven Muslim-majority countries.”
Countries targeted by Trump’s immigration ban include Syria, Yemen, Somalia, Iraq and Iran. Iran responded by preventing Americans from entering the country.