FTSE 100 watch: Footsie little changed as investors digest corporate earnings

Schroders share price slips despite stronger half-year profits

FTSE 100 watch: Footsie little changed as investors digest corporate earnings

The UK benchmark index has been little changed in today’s session, with investors digesting a string of corporate releases. Schroders (LON:SDR) has been one of today’s most prominent FTSE 100 fallers despite reporting a rise in half-year profits.

FTSE 100 little changed

As of 12:18 BST, the Footsie had added 2.81 points to stand 0.04 percent higher at 7,661.07. Investors have been focused on a string of corporate releases in today’s trading and are also awaiting a rate decision by the European Central Bank.

“The index continues to trade in a tight range from 7650 to 7700, so a break of these levels is needed to determine the next direction,” Chris Beauchamp, market analyst at IG, commented in a note.

Individual blue-chip movers

In individual movers, Schroders’ share price has given up 4.38 percent to 3,081.00p, even as it reported a rise in half-year net income and profit before tax. The group, however, also revealed that it had seen no net new business in the first half of the year, with inflows from Institutional clients offset by outflows in the Intermediary sales channel.

Royal Dutch Shell (LON:RDSA) has been another prominent FTSE 100 faller even as it announced a $25-billion share buyback. The group’s second-quarter earnings, however, fell short of estimates.

“As good as the news from Shell is, very strong Q2 profit growth [...] thanks to higher oil prices, still missed expectations,” Mike van Dulken, head of research at Accendo Markets, commented, as quoted by Reuters. The oil major’s shares are down 2.47 percent at 2,591.50p.

In FTSE 100 risers, AstraZeneca (LON:AZN) is 2.48 percent up at 5,701.00p after revealing that new medicines had propped up its half-year product sales, while shares in Smith & Nephew (LON:SN) are trading 3.63 percent higher at 1,369.00p after the group said that its revealed that its emerging markets had returned to growth in the second quarter of the year.

The FTSE 100 stood at 7,657.80 points, flat in percentage terms, as of 12:33 BST on Thursday, 26 July 2018.

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