FTSE 100 watch: Footsie inches higher as investors digest company releases

Taylor Wimpey share price slides after group’s trading update

FTSE 100 watch: Footsie inches higher as investors digest company releases

The UK benchmark index has clawed back its morning losses this Thursday, with investors digesting a string of corporate releases amid the ongoing earnings season. Taylor Wimpey (LON:TW) has been one of the session’s most notable FTSE 100 fallers after issuing a trading update.

FTSE 100 steady

As of 12:30 BST, the Footsie had added 7.95 points to stand 0.11 percent higher at 7,387.27. With the earnings season in full swing, investors have been focused on corporate releases. A weaker pound meanwhile is lending support to the blue-chip index, fuelling demand for shares with international exposure.

The benchmark index has remained in positive territory after the European Central Bank announced that it was keeping rates on hold.

Blue-chip movers

Heavyweight Royal Dutch Shell (LON:RDSA) has pressured the Footsie after reporting weaker cash flow in the first quarter.

“The focus for the big oils in recent months has been the return to free cash flow, particularly given how strong Q1 (first quarter) normally is seasonally for the group,” analysts at Barclays commented, as quoted by Reuters. Shell’s shares are currently changing hands 2.21 percent in the red at 2,472.50p.

Barclays (LON:BARC) itself is underperforming the London market, having given up 0.19 percent to 212.60p, after unveiling that it had made a loss for the first quarter due to hefty litigation and misconduct costs.

Taylor Wimpey’s share price meanwhile has given up 1.71 percent to 189.55p after the blue-chip housebuilder said that its total order book value stood at about £2.16 billion as at April 22, down from the £2.21 billion a year ago.

The FTSE 100 index was 0.08 percent up at 7,385.40 points as of 12:48 BST on Thursday, 26 April 2018.

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