The UK benchmark index has fallen deep into the red in today’s session, pressured by geopolitical tensions, a string of FTSE 100 companies going ex-dividend, as well as a selloff in London-listed housebuilders. Coca-Cola HBC (LON:CCH) meanwhile has bucked the trend, soaring to the top of the blue-chip leaderboard, after posting what it called ‘excellent’ half-year results.
As of 12:34 BST, the FTSE 100 had lost 82.78 points to stand 1.10 percent lower at 7,415.28. Global sentiment remains subdued today, with investors continuing to focus on tensions between the US and North Korea. The FTSE 100 is further underperforming other European indices, pressured by a string of companies, including heavyweight Royal Dutch Shell (LON:RDSA), whose shares are trading without the attraction of their latest dividend in today’s session.
Homebuilders are also weighing on the index, following downbeat house prices data. Taylor Wimpey (LON:TW) is currently leading the sector lower, having shed 2.04 percent to 190.90p.
“Given Brexit uncertainties, the housing market is clearly a key risk for the UK economy,” said Davy Research analysts, as quoted by Reuters. “UK house prices are being protected by an illiquid market, but we have revised down our forecast for UK mortgage lending given weak transactional activity in 2017.”
On a more positive note, shares in Coca-Cola HBC have been in demand, as the bottling company revealed that its revenue growth had picked up in the second quarter of the year, and was up 5.6 percent in the six months ended June 30. The company further saw volume growth in all segments. Coca-Cola HBC’s share price is currently 7.12 percent up at 2,551.00p.
The FTSE 100 index was 1.12 percent down at 2,551.00 points as of 12:47 BST on Thursday, 10 August 2017.