FTSE 100 watch: Footsie little changed amid renewed trade war worries

Rolls-Royce lends support to benchmark index after full-year results

FTSE 100 watch: Footsie little changed amid renewed trade war worries

The UK benchmark index has been little changed in today’s session, pegged back by renewed worries over a potential trade war. Rolls-Royce Holdings (LON:RR) meanwhile has rallied after unveiling that it had returned to annual profit last year.

Benchmark index little changed

As of 12:24 GMT, the FTSE 100 had added 7.24 points to stand 0.10 percent higher at 7,153.99. Investors have been cautious today after in the US, President Donald Trump’s economic advisor Gary Cohn stepped down, fanning trade war fears.

“Whilst the rhetoric has clearly increased in recent days, particularly with the timing of Gary Cohn’s departure, the key tests are whether Donald Trump proceeds to sign this order but also what other nations do in response,” Edward Park, investment director at Brooks Macdonald, told Reuters.

Individual blue-chip movers

In individual stock news, shares in Rolls-Royce have rallied after the company revealed that it had returned to profit last year, amid an ongoing restructuring under chief executive Warren East. The group further reported that its cash flow had more than doubled year-on-year.

“Cash pays the bills and cash funds investment in a business and its competitive position, so it is encouraging today to see cash flow improve markedly at Rolls-Royce as boss Warren East nears the end of his third year at the helm,” Russ Mould, AJ Bell’s investment director, commented, as quoted by Proactive Investors. Rolls-Royce’s shares are 11.99 percent up at 928.40p.

At the other end of the spectrum has been NMC Health (LON:NMC), whose shares have been sold off after the company reported a drop in hospital bed occupancy rates for the year ended December 31, 2017. NMC Health’s share price is 2.56 percent down at 3,272.00p.

The FTSE 100 was 0.11 percent up at 7,154.39 points as of 12:34 GMT on Wednesday, 07 March 2018.

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