FTSE 100 watch: Footsie steady ahead of second Brexit vote this week

Hikma share price slides after full-year results

FTSE 100 watch: Footsie steady ahead of second Brexit vote this week

The UK benchmark index has climbed higher in today’s session, holding steady ahead of another crucial Brexit vote in parliament. In individual FTSE 100 movers, Hikma Pharmaceuticals (LON:HIK) has fallen deep into the red after updating investors on its full-year performance.

FTSE 100 holds steady

As of 12:26 GMT, the Footsie had added 18.89 points to stand 0.26 percent higher at 7,170.04. The blue-chip index has been steady in today’s session, after Prime Minister Theresa May’s updated deal with the European Union suffered a crushing defeat in parliament last night, and with MPs set to vote later today on whether to back a no-deal Brexit or seek a delay to the process.

“This is all very messy - there is not clear and clean way out of this – leaving uncertainty and caution the order of the day for sterling and other UK assets,” Markets.com analyst Neil Wilson said, as quoted by Reuters.

Proactive Investors meanwhile quoted Fiona Cincotta at City Index as commenting that yesterday’s “meaningful Brexit vote did not offer any resolution but instead has paved the way for a series of votes that will keep the markets in a limbo for the rest of week”.

Individual Footsie movers

Investors are also digesting a string of company releases, including a full-year update from HIkma Pharmaceuticals, whose operating profit fell short of expectations. Hikma’s share price is 4.95 percent worse off at 1,573.50p.

Standard Life Aberdeen (LON:SLA) meanwhile has surged 3.18 percent to 252.80p as the company posted its full-year results and announced that it was scrapping its co-chief executive structure, having decided to appoint Keith Skeoch as its sole CEO.

The FTSE 100 was 0.22 percent up at 7,166.78 points as of 12:38 GMT on Wednesday, 13 March 2019.

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