FTSE 100 watch: Footsie slides as Trump concerns fuel global selloff

Burberry share price rallies as retailer posts full-year results

FTSE 100 watch: Footsie slides as Trump concerns fuel global selloff

The FTSE 100 index has fallen deep into the red in today’s session, with concerns over Donald Trump’s presidency fuelling risk-off sentiment around the world. Burberry (LON:BRBY) and Royal Mail (LON:RMG), however, have bucked the trend after updating investors on their full-year performance this morning.

As of 12:26 BST, Britain’s blue-chip index had lost 86.30 points to stand 1.15 percent lower at 7,417.17. Risk-off sentiment has settled across markets around the world in the wake of this week’s reports that US President Trump had tried to interfere with a federal investigation.

“The sell-off we saw in the S&P 500 is being felt in a global ‘risk-off’ trade now rather than favouring any region over another, at least in the shorter term,” Edward Park, director at Brooks Macdonald, told Reuters.

The Telegraph meanwhile quoted Kevin Gaynor, of Nomura, as commenting that “the negative impacts that the latest developments have on Trump’s ability to pursue his policy agenda could be more important for markets”.

In individual movers, shares in Burberry have been in demand after the blue-chip retailer reported that its adjusted profit before tax had climbed by £42 million to £462 million in line with guidance in the year ended March 31. The group further delivered £20 million in costs savings. Burberry’s share price is currently 2.11 percent better off at 1,675.56p.

Royal Mail has been another prominent Footsie riser after reporting a rise in full-year profits before tax, having benefitted from growth at its parcels business and strong performance at its GLS unit. Royal Mail’s shares are currently changing hands 1.59 percent higher at 437.63p.

The FTSE 100 index was 1.04 percent down at 7,425.34 points as of 12:39 BST on Thursday, 18 May 2017.

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