MARKET WATCH: Melrose leads Footsie sell-off as US tech stocks slide into the red

Published on: March 6, 2025

By DAILY MAIL CITY & FINANCE REPORTER

Updated: 22:00 GMT, 6 March 2025

The FTSE 100 fell for a third day since its record high as US tech stocks crumbled. It fell 73 points to 8682.84, leaving it more than 2 per cent below Monday’s peak of 8871.

The sell-off came as rising bond yields, uncertainty over tariffs and disappointing corporate results hit confidence. In New York, the Nasdaq fell 2.6 per cent, the Dow by 1 per cent and the S&P 500 by 1.8 per cent.

Back in London, Melrose – owner of aerospace parts maker GKN – slumped 18.2 per cent to 556.4p after a weak revenue outlook.

Pest controller Rentokil – dubbed the ‘Royal Ratcatcher’ – fell 10.8 per cent to 346.2p after its profits plunged 17.9 per cent to £405million.

But Dettol maker Reckitt Benckiser reversed early losses to close 2.1 per cent up, at 5294p. In the FTSE 250 – up 0.2 per cent, or 31.34 points, to 20,159.07 – private hospital group Spire Healthcare fell 16 per cent to 188.6p.

North Sea oil and gas explorer Harbour Energy was down 11.5 per cent to 189.4p while defence stock Qinetiq rose 7.4 per cent to 530p to take gains this week to beyond 30 per cent.

Dumped: Melrose, owner of aerospace parts maker GKN, fell 18.2% as a weak revenue outlook dismayed investors

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MARKET WATCH: Melrose leads Footsie sell-off as US tech stocks slide into the red

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MARKET WATCH: Melrose leads Footsie sell-off as US tech stocks slide into the red