UK Shares See Mixed Start Amid Aston Martin Plunge and Commodity Gains

UK shares began the week on a lower note as a slump in Aston Martin shares offset gains in commodity stocks. The FTSE 100 and FTSE 250 dipped, with the blue-chip index poised for its first monthly loss in three months. Aston Martin warned of lower profits, citing supply chain disruptions.

UK shares kicked off the week on a somber note, as an upswing in commodity stocks couldn't counterbalance a steep decline in Aston Martin shares. The luxury carmaker plummeted to the bottom of mid-cap stocks following a cautionary profit warning.

Both the FTSE 100 and the domestically-focused FTSE 250 midcap index dipped by 0.1% as of 0715 GMT. The FTSE 100 is facing its first monthly loss in three months but remains on track for a fifth consecutive quarter of gains. Conversely, the FTSE 250 is expected to report a rise for September.

Aston Martin alerted investors about lower annual core profits and stated it could not achieve positive free cash flow in the first half, attributing the shortfall to supply chain issues and weak performance in China. This caused the stock to dip by 12.5%, pulling down the broader automobiles and parts index by 3.8%.

On the brighter side, industrial metal miners saw a 2% increase, while heavyweight oil and gas shares added 1.1% as most commodity prices surged on stronger demand forecasts. Still, a survey indicated that British business confidence ebbed this month following an eight-year high in July and August, driven by growing concerns over the broader economic outlook.

(With inputs from agencies.)