FTSE 100 ends down as defence stocks offset commodity gains

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April 9 - Britain's blue-chip share index closed lower on Tuesday after defence stocks succumbed to a bout of profit-taking and offset gains in mining and oil shares that were lifted by stronger commodity prices.

Investors were also cautious ahead of U.S. inflation data, the European Central Bank's monetary policy decision and UK GDP data this week that could set the tone for the pace of monetary policy easing across regions this year. An early Easter boosted food spending in Britain last month, lifting retail sales by the most since August, but the broader picture remained subdued as wet weather dampened demand for other goods, the British Retail Consortium said.

Industrial metal miners , opens new tab rose 1.4% as iron ore futures prices continued to gain on hopes of improving demand for the key steel-making ingredient in top consumer China. Copper prices steadied near 14-month highs.

 

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