FTSE 100 watch: Index little changed as earnings stay in focus

Glencore share price outperforms after first-quarter production report

FTSE 100 watch: Index little changed as earnings stay in focus

The UK benchmark index has been little changed in today’s session, with investors digesting the latest batch of company releases. Glencore (LON:GLEN) has been one of the session’s biggest risers after postings its first-quarter results.

FTSE 100 little changed

As of 12:20 BST, the Footsie had given up 5.12 points to stand 0.07 percent lower at 7,538.08. The blue-chip index has been little changed today with investors focusing on corporate updates as well as the Federal Reserve’s latest policy statement which signalled rate hikes going forward.

“I would not be surprised if we continue to see very strong UK equities numbers and a really quite material rerating,” Guy Monson, chief investment officer at Sarasin & Partners, told Reuters, adding that if this final stage of Brexit talks results in a settlement there could be a flight back into UK equities.

Individual Footsie movers

In individual movers, shares in Glencore are outperforming the FTSE 100 as the commodities giant said that its first-quarter output was in line with expectations, while its full-year marketing earnings before interest and taxes were expected to be within the top half of the group’s $2.2 billion to $3.2 billion long term guidance range. Glencore’s share price currently stands 0.70 percent higher at 360.41p.

Smith & Nephew (LON:SN) meanwhile is at the bottom of the blue-chip leaderboard after reporting that its business had delivered ‘mixed performance’ during the first quarter and as a result, the company was trimming its full-year outlook. Shares in the artificial hips and knees maker are currently changing hands 6.43 percent in the red at 1,310.50p.

The FTSE 100 was 0.13 percent down at 7,533.50 points as of 12:51 BST on Thursday, 03 May 2018.

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