FTSE 100 watch: Footsie inches higher as investors eye earnings

WPP share price slumps after rival’s downbeat results

FTSE 100 watch: Footsie inches higher as investors eye earnings

The UK benchmark index has climbed marginally higher this Thursday, with investors digesting corporate releases amid the ongoing earnings season. Downbeat results at France’s Publicis meanwhile have sent WPP (LON:WPP) tumbling to the bottom of the FTSE 100 leaderboard.

FTSE 100 inches higher

As of 12:26 BST, the FTSE 100 had added 11.37 points to stand 0.15 percent higher at 7,687.65, with investors digesting company news. Miners, however, are proving a drag on the blue-chip index amid ongoing trade war concerns. Antofagasta (LON:ANTO) is currently leading the sector lower, having given up 3.01 percent to 936.00p.

Individual blue-chip movers

In individual stock news, shares in WPP have come under pressure as French rival Publicis reported slowdown “from a good Q1 to a negative Q2”. WebFG News quoted Mike van Dulken, head of research at Accendo Markets, as commenting that with the FTSE 100 advertising giant only recently having lost founder Sir Martin Sorrell, shareholders were “understandably digesting this week’s sector news badly, wondering about their own prospects amid a changing advertising landscape and what might lurk in their own first-half results on 4 September”. WPP’s share price is currently 3.15 percent in the red at 1,138.50p.

Unilever (LON:ULVR) meanwhile has added 2.61 percent to 4,312.50p, following a downbeat start to the session, with investors digesting the group’s results which showed a drop in half-year turnover and a rise in earnings per share.

“Unilever missed its first half sales growth target due to strikes in Brazil but overall the picture remains positive,” said Neil Wilson, chief market analyst at Markets.com, as quoted by Reuters.

The FTSE 100 stood 0.12 percent higher at 7,685.75 points as of 12:56 BST on Thursday, 19 July 2018.

Top Equities Brokers

0 Brokers added for comparison:
Clear all