FTSE 100 watch: Footsie little changed as trade worries stay in focus

Centrica share price jumps after Ofgem energy cap

FTSE 100 watch: Footsie little changed as trade worries stay in focus

The UK benchmark index has been little changed in today’s session, pressured by downbeat handover from the US and Asia, where trade worries continued to weigh on sentiment. In individual FTSE 100 movers, British Gas owner Centrica (LON:CNA) has soared to the top of the blue-chip leaderboard with investors cheering industry regulator Ofgem’s energy price cap.

FTSE 100 little changed

As of 12:40 BST, Britain’s blue-chip index had given up 15.78 points to stand 0.21 percent lower at 7,367.50, pressured by the ongoing trade tensions between the US and China as well as ongoing concerns over emerging markets.

Chris Beauchamp, market analyst at IG, commented in a note today that the next area of support for the Footsie was at 7,340 points, with 7,280 to come into play below, while a recovery above the 7,490-point mark was needed to suggest near-term bullish pressure.

Individual stock news

In individual stock movers, shares in British Gas owner Centrica have been in demand after industry regulator Ofgem proposed a £1,136 annual energy price cap for a typical dual fuel customer paying by direct debit. Citywire quoted Jefferies analyst Ahmed Farman as commenting that the cap was ahead of the broker’s as well as consensus expectations. Centrica’s share price is currently 5.20 percent better off at 150.85p.

Melrose (LON:MRO) has been another prominent FTSE 100 riser after reporting that it was trading in line with the board’s expectations for the current year, while the recently acquired GKN businesses were “being managed successfully on a standalone basis”. Melrose’s share price is 5.16 percent better off at 234.20p.

The FTSE 100 was 0.15 percent down at 7,371.86 points as of 12:50 BST on Thursday, 06 September 2018.

Top Equities Brokers

0 Brokers added for comparison:
Clear all