FTSE 100 watch: North Korea worries continue to pressure Footsie

Barratt share price slips after full-year results

FTSE 100 watch: North Korea worries continue to pressure Footsie

The UK benchmark index has fallen into negative territory in today’s trading, extending the previous session’s losses, with investor attention continuing to focus on North Korea. In individual movers, Barratt Developments (LON:BDEV) is underperforming the broader market after updating investors on its full-year performance.

As of 12:32 BST, the FTSE 100 had lost 41.37 points to stand 0.56 percent lower at 7,331.55, tracking the US lower. Sentiment has been subdued this week in the wake of Pyongyang’s latest nuclear test.

“Stock markets were rattled by suggestions that an intercontinental ballistic missile had been moved to the west coast of North Korea and that the leadership might conduct a weapon test around 9 September, when the country celebrates its founding day,” Credit Suisse said in a morning note, as quoted by Reuters.

In individual stock news, shares in Barratt have been sold off even as the company posted a 9.8-percent rise in revenue for the year ended June 30. The blue-chip housebuilder, however, warned that following the outcome of last year’s referendum, it continued “to monitor carefully the potential impacts of the vote to leave the EU on our business”. Barratt’s share price is currently 3.69 percent down at 601.00p.

Micro Focus (LON:MCRO) meanwhile has been today’s most prominent FTSE 100 riser after unveiling HPE Software’s third-quarter results, following the completion of the merger between the two companies last week. HPE Software’s third-quarter reported operating profit came in at $179 million, marking an improved operating margin of 24.9 percent. Micro Focus’ share price is currently 7.79 percent better off at 2,379.00p.

The FTSE 100 was 0.46 percent down at 7,338.60 points as of 12:49 BST on Wednesday, September 6, 2017.

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