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London’s FTSE 100 closed 0.31% lower on Tuesday as the market focused on the UK’s ninth round of negotiations with Switzerland for an enhanced free trade agreement and new science and technology collaborations with Japan.
The latest discussions with Switzerland closed on Jan. 16 with a provisional agreement on environment and labor policy areas. British leaders are targeting Swiss market access for UK services firms and guarantees for the free flow of data.
Meanwhile, Prime Minister Keir Starmer’s visit to Japan on Jan. 31 led to several partnerships, including a rare disease genomics pilot program between Oxford Nanopore Technologies (ONT.L) and Japanese genetic testing company Genesis Healthcare and an 11 million-pound-sterling investment from Orchard Therapeutics, the British subsidiary of Japan’s Kyowa Kirin, in the UK for the research and development of gene therapies.
“These announcements, covering life sciences, quantum and more, spotlight some of the key science-driven industries in which the UK and Japan are working together,” said British Science Minister Patrick Vallance. “The prizes on offer include new therapies for diseases that were previously considered untreatable, and critical infrastructure for the digital age.”
In corporate news, JD Sports Fashion (JD.L), down 5.16%, was among the blue-chip index’s worst performers. Deutsche Bank Research reduced its price target on the company to 85 pounds from 95 pounds with a hold rating. “JD Sports downgraded expectations for the year ahead again with peak trading, pointing to a subdued 2026 market outlook, now resulting in another year of earnings declines,” analysts said.
AlphaValue/Baader Europe revised its EPS projections for aerospace and defense group Rolls-Royce Holdings (RR.L), citing stronger-than-anticipated execution and the upward revision of its full-year guidance. Shares gained climbed 0.41%.
“Improved profitability in Civil Aerospace, supported by resilient aftermarket activity, enhanced [long-term service agreement] economics and sustained pricing discipline, underpins stronger earnings visibility. Continued operational efficiency and cost control further support margin expansion,” according to the research firm.