FTSE 100 watch: Footsie in the red amid geopolitical tensions

St James’s Place dips as investors digest results

FTSE 100 watch: Footsie in the red amid geopolitical tensions

The UK benchmark index has fallen into the red in today’s session, hovering around the 7,000-point mark, worries over Saudi Arabia, Brexit and the US-China trade relations weighing on sentiment. In individual stock news, St James’s Place (LON:STJ) has been one of today’s most prominent FTSE 100 fallers after updating investors on its quarterly performance.

FTSE 100 in the red

As of 12:29 BST, Britain’s blue-chip index had lost 37.56 points to stand 0.53 percent lower at 7,005.24, having traded below the 7,000-point mark earlier in the session. Sentiment has been subdued amid worries over the US-China trade relations, and with investors eyeing the latest developments over Saudi Arabia following the death of journalist Jamal Khashoggi.   

“We’re back to where we were. We had a week of respite and now the market’s resumed its focus on negative factors more than anything else,” said Mike van Dulken, analyst at Accendo Markets, as quoted by Reuters.

Proactive Investors meanwhile reports that research by Hargreaves Lansdown suggests that UK investor confidence is at its lowest for 23 years, with Brexit at the top of the worry list, closely followed by general global instability and the UK’s productivity problem.

Blue-chip movers

St James’s Place has been one of today’s biggest Footsie fallers with the group revealing that growth slowed down in the third quarter. The asset manager’s shares are currently changing hands 4.65 percent in the red at 986.40p. Premier Inn owner Whitbread (LON:WTB) meanwhile has given up 2.04 percent to 4,373.00p after posting its interim results in the wake of the sale of its Costa Coffee business to Coca-Cola.

The FTSE 100 was 0.87 percent down at 6,981.41 points as of 12:48 BST on Tuesday, 23 October 2018.

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