FTSE 100 watch: Footsie heads south amid geopolitical worries

Coca-Cola HBC share price drops as earnings disappoint

FTSE 100 watch: Footsie heads south amid geopolitical worries

The UK benchmark index has fallen into the red, pressured by a string of companies going ex-dividend, as well as the latest US sanctions on Russia and the ongoing US-China trade row. In individual movers, Coca-Cola HBC (LON:CCH) is trading lower after updating investors on its half-year performance.

FTSE 100 heads south

As of 12:25 BST, the Footsie had given up 58.75 points to stand 0.76 percent lower at 7,717.90. The blue-chip index has been weighed down by a string of companies, including heavyweight Royal Dutch Shell (LON:RDSA), whose shares are trading without the attraction of their latest dividend in today’s session.

Sentiment has also been subdued as the US moved to impose fresh sanctions on Russia over the poisoning for former Russian spy Sergei Skripal and his daughter earlier this year. Investors are also digesting the escalating trade war between the US and China, with Beijing slapping additional tariffs on US fuel and steel imports.

Individual performers

Coca-Cola HBC’s share price has given up 1.49 percent to 2,709.00p even after the company reported a rise in sales and profits for the six months ended June 29. Reuters, however, reports that Jefferies had said that the bottler’s comparable earnings per share of 60 euro cents had missed analysts’ estimates of 61 cents. The broker cited higher finance costs mainly due to lower interest returns on cash deposits.

TUI Group (LON:TUI) has been another prominent FTSE 100 faller, with investors digesting the group’s third-quarter update. The tour operator’s shares are currently changing hands 6.32 percent lower at 1,482.50p.

The FTSE 100 was 0.72 percent down at 7,720.75 points as of 12:36 BST on Thursday, 09 August 2018.

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