FTSE 100 watch: Footsie slips lower amid ongoing Brexit fears

Compass share price outperforms as group posts FY results

FTSE 100 watch: Footsie slips lower amid ongoing Brexit fears

The UK benchmark index has slipped into the red in today’s session, following downbeat leads from the US and Asia, and with Brexit worries continuing to weigh on sentiment. Compass Group (LON:CPG) meanwhile is outperforming the FTSE 100 after updating investors on its full-year performance.

FTSE 100 slips lower

As of 12:33 GMT, the Footsie had lost 31.47 points to stand 0.45 percent lower at 6,969.42. Sentiment has been subdued following a downbeat lead from the US which suffered a tech selloff, while at home, Prime Minister Theresa May continues with her struggle to win support for her draft Brexit deal.

“The selling continues across markets, as Europe takes another leg down, driven by trade wars, tech sector concerns and the ongoing impasse with the Italian budget. Oh, and Brexit, where the UK government is now likely to lose the support of its DUP allies if a vote on the deal comes to pass,” Chris Beauchamp, the chief market analyst at IG Markets, commented, as quoted by Proactive Investors.

Individual movers

In individual movers, Compass has climbed higher in today’s session, after reporting 5.5-percent underlying revenue growth and a 7.1-percent rise in operating profit for the year ended September 30.

“With labour inflation the key concern across the sector currently, we think that investors may breathe a sigh of relief with ‘in line’ results and positive commentary on the top line and margin outlook,” said Barclays analysts, as quoted by Reuters. Compass’ share price is 4.28 percent higher at 163.20p.

easyJet (LON:EZJ), however, has given up 4.85 percent to 1,118.00p, even as it posted a rise in profits and hiked its payout to shareholders.

The FTSE 100 was 0.40 percent down at 6,972.67 points as of 12:51 GMT on Tuesday, 20 November 2018.

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