FTSE 100 watch: Footsie little changed as Brexit negotiations stay in focus

Sage share price recovers after this week’s slide

FTSE 100 watch: Footsie little changed as Brexit negotiations stay in focus

The UK benchmark index has been little changed in today’s session, with investors focusing onto the ongoing Brexit process ahead of a weekend summit. In individual movers, The Sage Group (LON:SGE) is outperforming the FTSE 100, recovering some ground following this week’s slide.

FTSE 100 little changed

As of 12:44 GMT, the Footsie had given up 3.88 points to stand 0.06 percent lower at 6,956.44. Sentiment has been subdued in the absence of a lead from the US, where markets were closed for Thanksgiving yesterday, and with investors digesting the latest Brexit news as Spain flagged objections over the UK’s deal with the European Union over Gibraltar.

“With Sunday’s EU-UK Brexit Summit back on after yesterday’s progress, any soundbites on remaining resolutions, be it actual progress or hopes thereof, as well as threats or actual spanners in the works, could keep GBP and thus the FTSE and its components on edge into the weekend,” said Accendo Markets analyst Mike van Dulken, as quoted by Reuters.

Proactive Investors meanwhile quoted Russ Mould, the investment director at AJ Bell, as noting that markets had “paused for breath in parts of the world after an adventurous few weeks”.

Individual blue-chip movers

The Sage Group (LON:SGE) has been one of today’s most notable risers, recouping some of this week’s losses, after the company cautioned that its  organic revenue growth rate may decrease in the short-term. Sage’s share price currently stands 2.93 percent higher at 576.60p.

Centrica (LON:CNA) meanwhile is in the red for a second day after warning yesterday that it expects a £70-million impact next year following industry regulator Ofgem’s energy price caps. The British Gas owner’s shares are changing hands 1.85 percent lower at 129.85p.

The FTSE 100 index stood at 6,961.00 points, flat in percentage terms, as of 12:50 GMT on Friday, 23 November 2018.

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