FTSE 100 watch: Brexit and G-20 summit caution weigh on Footsie

Experian shares steady despite ClearScore acquisition setback

FTSE 100 watch: Brexit and G-20 summit caution weigh on Footsie

The UK benchmark index has slipped marginally into the red in today’s session, with Brexit worries and caution ahead of the G-20 summit this week weighing on investor sentiment. In individual movers, shares in Experian (LON:EXPN) have been steady even as the UK competition watchdog flagged concerns over the group’s acquisition of ClearScore.

FTSE 100 inches lower

As of 12:13 GMT, the Britain’s blue-chip index had shed 5.81 points to stand 0.08 percent lower at 7,011.04. Sentiment has been subdued today ahead of this weekend’s G-20 summit in Argentina where US President Donald Trump is set to meet with Chinese premier Xi Jinping.

“Investors are likely to become more concerned that the G20 summit in Argentina kicking off on Friday won’t lead to a truce or a framework agreement between China and the US, but given that we’re living in a Trump world, there’s always a chance for last minute changes,” said Hussein Sayed, chief market strategist at FXTM, as quoted by Proactive Investors. “Until then expect markets to remain choppy.”

At home, attention is Prime Minister Theresa May who has been trying to gain support for her Brexit deal which has been endorsed by EU leaders.

Individual Footsie movers

In individual stock news, shares in Experian are trading 0.23 percent higher at 1,871.75p, even as the Competition and Markets Authority said in its provisional findings that the group’s proposed takeover of rival ClearScore could substantially reduce competition.

Marks & Spencer (LON:MKS) meanwhile has been little changed, trading 0.03 percent lower at 309.50p, following comments by RBC which lowered its stance on the retailer, pointing to challenges for its food business.

The FTSE 100 was 0.03 percent down at 7,015.00 points as of 12:33 GMT on Wednesday, 28 November 2018.  

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