FTSE 100 watch: Footsie little changed as investors digest company news

Miners weigh after downbeat China data

FTSE 100 watch: Footsie little changed as investors digest company news

The UK benchmark index has been little changed in today’s session, with a fall in miners offsetting gains in Vodafone (LON:VOD) and Tesco (LON:TSCO). A drop in ITV (LON:ITV) is also weighing on the index after the company unveiled a drop in advertising revenue.

Footsie little changed

As of 12:05 GMT, the FTSE 100 had added 0.66 points to stand 0.01 percent higher at 7,415.84. Blue-chip miners are proving a drag on the index in today’s session, following the latest data out of China, the world’s biggest metals consumer. Glencore is currently leading the sector lower, having given up 1.85 percent to 357.20p so far today.

Individual movers

Investors are also digesting a string of corporate releases, including ITV’s third-quarter results, which showed that the broadcaster had seen a drop in advertising revenue in the first nine months of the year. ITV’s shares are currently changing hands 2.99 percent in the red at 149.40p, having tumbled more than six percent earlier in the session.

At the other end of the spectrum has been Vodafone (LON:VOD), whose shares have advanced as the telecoms giant hiked its earnings forecasts for the full year. Vodafone is 4.79 percent up at 226.35p.

Shares in Tesco (LON:TSCO) have also been in demand after the Competition and Markets Authority cleared provisionally the grocer’s tie-up with wholesaler Booker Group (LON:BOK).  Molly Johnson-Jones, senior retail analyst at GlobalData, meanwhile told CNBC in an email that “despite its ‘provisional unconditional clearance’ of the deal and findings, we think that the wholesale convenience market still has a lot to be concerned about from the scale of operation and buying power that the deal generates”. Tesco’s shares are 5.68 percent better off at 187.05p.

The FTSE 100 was 0.05 percent up at 7,418.90 points as of 12:15 GMT on Tuesday, 14 November 2017. 

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