FTSE 100 watch: Footsie steadies after late start

Ex-divs peg back index’s advance

FTSE 100 watch: Footsie steadies after late start

The UK benchmark index has climbed marginally higher in today’s session, amid upbeat investor sentiment following upbeat leads from the US and Asia. Blue-chips, whose shares are trading without their latest dividend in today’s session, however, are weighing on the FTSE 100.

FTSE 100 up after late start

As of 12:15 BST, the Footsie had added 14.45 points to stand 0.19 percent higher at 7,726.82. Trading, however, was delayed for an hour this morning due to technical issues. Sentiment meanwhile has been upbeat today, following strong leads from the US and Asia.

“The FTSE 100 is heading higher following a short-term breakdown, raising hopes that the wedge sell-off seen earlier in the week could already be over,” Joshua Mahoney, market analyst at IG, commented in a note.

Reuters meanwhile quoted Mike van Dulken, head of research at Accendo Markets, as commenting that risk appetite had improved in general and that the banks tended to benefit from that, being more volatile.

“Yes, there are still things that you can worry about if you want to, but they don’t seem to be dragging on sentiment anymore,” van Dulken added.

Individual stock news  

SSE (LON:SSE) is outperforming the broader UK market, despite agreeing to pay £1 million to Ofgem's consumer redress fund after providing some pre-payment meter customers with inaccurate and misleading information in annual statements. SSE’s share price is 0.93 percent up at 1,359.50p.

Intertek (LON:ITRK), which today agreed a deal to acquire network security and assurance services provider NTA Monitor, is 0.92 percent up at 5,728.00p.

Heavyweight Vodafone (LON:VOD), however, is 3.57 percent down at 189.58p, with its shares going ex-dividend today.

FTSE 100 was 0.44 percent up at 7,746.07 points as of 12:54 BST on Thursday, 07 June 2018.

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