FTSE 100 watch: Footsie steady as geopolitical tensions ease

Sage shares tumble after revenue warning

FTSE 100 watch: Footsie steady as geopolitical tensions ease

The UK benchmark index has climbed marginally higher this Friday, amid easing tensions over Syria. The Sage Group (LON:SGE), however, is proving a drag on the FTSE 100 after warning on revenues in an unscheduled trading update.

FTSE 100 steady

As of 13:29 BST, the Footsie had added 10.11 points to stand 0.14 percent higher at 7,268.45p. Investors sentiment has recovered today amid easing geopolitical concerns, with US President Donald Trump tweeting yesterday that an attack on Syria “could be very soon or not so soon at all”.

In individual risers, Micro Focus (LON:MCRO) has soared to the top of the blue-chip leaderboard on the back of a report that activist investor Elliot Management had taken a stake in the London-listed software group. Micro Focus’ share price is currently 3.58 percent better off at 1,303.50p.

Sage shares tank

The Sage Group has been today’s most prominent FTSE 100 faller after trimming its revenue guidance and noting that growth in the first half of its financial year had fell short of expectations.

“It’s not great to hear as you move into earnings season, and tech is a key sector. It’s one that created an element of volatility recently and it is the future,” Mike van Dulken, head of research at Accendo Markets, commented, as quoted by Reuters, adding that perhaps there was an element of the company “being penalised because it’s one of the first few to come out with results, secondly because it’s the tech sector and everyone’s hungry to know that tech is doing ok”. Sage’s shares are currently changing hands 9.52 percent in the red at 608.00p.

The FTSE 100 was 0.19 percent up at 7,272.44 points as of 13:53 BST on Friday, 13 April 2018.

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