FTSE 100 watch: Trade concerns keep Footsie in the red

Sainsbury’s shares in demand after first-quarter results

FTSE 100 watch: Trade concerns keep Footsie in the red

The UK benchmark index has fallen marginally into the red in today’s session, amid anticipation for US tariffs on China imports later in the week. In individual stock news, J Sainsbury (LON:SBRY) is outperforming the broader market after updating investors on its first-quarter performance.

FTSE 100 subdued

As of 11:44 BST, the FTSE 100 had given up 17.50 points to stand 0.23 percent lower at 7,575.79. Sentiment has been subdued today, with investors eyeing upcoming US tariffs on China imports later in the week, while Beijing is expected to respond in kind.

“With just two days to go until the US-Sino trade war threats start to take effect, relations between the US and China remain hostile, rattling investors,” analysts at London Capital Group said in a note, as quoted by Reuters.

Miners are proving a drag on the blue-chip index in today’s session, tracking metals prices lower. BHP Billiton (LON:BLT) is currently the sector’s biggest faller in percentage terms, having given up 1.62 percent to 1,643.00p.

Individual blue-chip movers

In individual stock news, shares in Sainsbury’s have been in demand even as the company revealed that its sales growth had slowed in the first quarter of its financial year. The result, however, surpassed analyst expectations. The blue-chip grocer’s shares are currently changing hands 1.98 percent higher at 324.90p.

At the other end of the spectrum has been Compass Group (LON:CPG), whose shares have been sold off after the catering company announced that its finance director will leave the company by the end of the year. Compass’ shares are 1.79 percent worse off at 1,593.00p.

The FTSE 100 was 0.16 percent down at 7,581.13 points as of 12:09 BST on Wednesday, 04 July 2018.

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