FTSE 100 watch: Footsie climbs higher as investors digest results

Just Eat share price tumbles despite group’s upgrade to revenues

FTSE 100 watch: Footsie climbs higher as investors digest results

The UK benchmark index has climbed into positive territory in today’s session, with investors digesting the latest batch of corporate earnings. Just Eat (LON:JE), however, has fallen to the bottom of the FTSE 100 leaderboard despite hiking its revenue forecast.

FTSE 100 gains ground

As of 12:19 BST, the Footsie had added 48.61 points to stand 0.63 percent higher at 7,749.46, with earnings staying firmly in focus following the latest batch of company releases.

“A fair few to get through this morning with something like 15 percent of the FTSE reporting results today,” said Neil Wilson, Chief Market Analyst at Markets.com, as quoted by Reuters.

Individual Footsie movers

BP (LON:BP) is lending some support to the FTSE 100 after delivering a rise in profits and hiking its payout to shareholders for the first time since the third quarter of 2014. The oil major’s shares are currently changing hands 1.11 percent higher at 571.80p.

At the other end of the spectrum has been Just Eat, whose shares have been sold off even as it raised its full-year revenue guidance to between £740 and £770 million, up from between £660 and £700 million. Just Eat’s share price is currently 5.86 percent worse off at 796.80p.

British Gas owner Centrica (LON:CNA) has been another prominent faller after reporting that its profits and cash flow had dipped in the first half of the year amid working capital outflows due to cold weather and wholesale commodity price increases. The group’s shares are 2.55 percent down at 148.80p.

The FTSE 100 was 0.67 percent up at 7,752.67 points as of 12:45 BST on Tuesday, 31 July 2018.

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