The UK benchmark index has slipped marginally into the red in today’s session amid trade worries following US President Trump’s latest comments. In individual movers, Hargreaves Lansdown (LON:HL) has been one of today’s biggest FTSE 100 fallers following a downgrade at Jefferies.
FTSE 100 slips lower
As of 12:22 BST, the Footsie had lost 24.18 points to stand 0.31 percent lower at 7,654.61. The blue-chip index has been subdued in today’s session following a US threat for more tariffs on Chinese imports. European Commission President Jean-Claude Juncker meanwhile is set to meet President Donald Trump to discuss potential US tariffs on European carmakers.
“The political situation will likely remain challenging, with a rather high probability of market adverse scenarios materialising [...] which in turn could hurt corporate sentiment,” equity strategists at JPMorgan commented in a note, as quoted by Reuters, adding that they remained ‘underweight’ on UK stocks.
Individual shares news
Shares in Hargreaves Lansdown meanwhile are underperforming the broader market as Jefferies lowered its rating on the shares from ‘hold’ to ‘underweight,’ with a price target of 1,650p, in the wake of measures proposed by the Financial Conduct Authority.
“Even including an estimated 2019 total forecast dividend of 51.1p we have close to 15% downside from the current share price and we move HL to ‘underperform’ on value ground,” the analysts pointed out, as quoted by Proactive Investors. Hargreaves Lansdown’s share price is currently 1.60 percent worse off at 2,090.00p.
GlaxoSmithKline (LON:GSK), which is scheduled to update investors on its performance and strategy this week, meanwhile is outperforming the broader market, having added 0.79 percent to 1,562.00p.
The FTSE 100 was 0.27 percent to 7,658.37 points as of 12:44 BST on Monday, 23 July 2018.