FTSE 100 watch: Footsie climbs higher as investors focus on earnings

Smiths share price sinks as group’s medical division underperforms

FTSE 100 watch: Footsie climbs higher as investors focus on earnings

The UK benchmark index has climbed higher in today’s session, with investor attention focusing on company updates amid the ongoing earnings season. Smiths Group (LON:SMIN) meanwhile has fallen to the bottom of the FTSE 100 leaderboard after issuing a pre-closing trading update.

FTSE 100 climbs higher

As of 12:23 BST, the Footsie had added 40.67 points to stand 0.53 percent higher at 7,667.00. Sentiment has been upbeat with investors digesting yesterday’s comments by Federal Reserve Chair Jerome Powell as well as a string of company releases.

easyJet (LON:EZJ) is trading in positive territory, despite having given up earlier gains, after delivering a rise in third-quarter revenue and hiking its headline profit before tax for the full year.

“The stars are aligning for easyJet this year,” Richard Hunter, head of markets at interactive investor, said, as                 quoted by Reuters, pointing to helpful factors such as the demise of some of the budget carrier’s competitors. The airline’s shares are currently changing hands 0.36 percent higher at 1,659.00p, having traded more than two percent higher earlier in the session.

CRH (LON:CRH) meanwhile is 2.61 percent up at 2,750.00p after wrapping up the sale of its Benelux business for a total consideration of €510 million.

Smiths share price dips

Shares in Smiths Group meanwhile have tumbled 9.07 percent to trade at 1,590.85p, after the company reported that its Medical division was expected to deliver a two-percent drop in revenue for the full year on the back of the temporary suspension of some of the unit’s products in Europe, as well as  the termination of two contracts in the US.

The FTSE 100 was 0.62 percent up at 7,673.30 points as of 12:37 BST on Wednesday, 18 July 2018.

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