FTSE 100 Edges Up as Investors Eye U.S. Tariff Talks; WPP Sees Worst Drop in 30+ Years

The FTSE 100 closed slightly higher on Wednesday, up 0.2%, as markets digested escalating U.S. trade tensions and corporate developments.
🔻 WPP shares plunged 19% — the steepest one-day fall in over three decades — after the ad giant slashed its profit outlook due to client exits, spending cuts, and weak new business in June. The decline dragged on the broader index.
⚠️ Global trade concerns intensified as President Trump threatened new 50% tariffs on copper, along with levies on semiconductors and pharmaceuticals. As a result:
Copper prices fell on the LME, while U.S. prices surged.
UK mining stocks dropped: Glencore (-2.7%), Anglo American (-2.5%).
The FTSE 350 mining index fell 1.9%.
🏦 The Bank of England warned that financial market risks remain high, despite recent easing after April’s tariff pause. Domestic political uncertainties—especially around welfare cuts and Finance Minister Rachel Reeves—also briefly rattled markets.
📉 The FTSE 250 slipped 0.1%:
ZIGUP sank 9.4% on disappointing profit.
Close Brothers dropped 4.2% amid cost-cutting efforts in premium finance.
📈 On the upside, British American Tobacco rose 2% after Jefferies rated it a top global pick in the sector.