FTSE 100 watch: Strong miners and company reports prop up Footsie

Hargreaves Lansdown share price slides as investors digest results

FTSE 100 watch: Strong miners and company reports prop up Footsie

The FTSE 100 has climbed higher in today’s session, finding support in a strong commodities sector, and with investors digesting corporate earnings. Hargreaves Lansdown (LON:HL), however, has fallen deep into the red after updating investors on its full-year performance.

FTSE 100 jumps

As of 13:23 BST, Britain’s blue-chip index had added 74.51 points to stand 0.97 percent higher at 7,738.29. The Footsie has benefitted from a rise in miners, with Glencore (LON:GLEN) leading the sector higher, having added 3.58 percent higher at 325.25p. BP (LON:BP) and Shell (LON:RDSA) are also outperforming the broader London market, having added 1.82 percent and 1.11 percent, respectively, on the back of stronger oil prices.  

Individual movers

Outside the commodities sector, Standard Life Aberdeen (LON:SLA) has been one of today’s most prominent FTSE 100 risers after unveiling plans to accelerate its share buyback scheme, even as it posted a drop in interim profit. The group’s shares are currently changing hands 5.64 percent higher at 323.90p.

Hargreaves Lansdown has been at the other end of the spectrum even as it reported that its net new business inflows had climbed in the 12 months ended June 30. Reuters, however, reported that some analysts had said that the flows had lagged forecasts. Hargreaves Lansdown’s share price is 2.69 percent worse off at 2,061.00p.

Holiday Inn and Crowne Plaza owner InterContinental Hotels Group (LON:IHG) has been another notable blue-chip faller even as it revealed a rise in revenue and profits in the first half of the year.  The group’s shares are 2.46 percent down at 4,632.00p.

The FTSE 100 index was 1.05 percent up at 7,744.39 points as of 13:56 BST on Tuesday, 07 August 2018.

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