FTSE 100 watch: Footsie steady after Brexit delay vote

Berkeley share price outperforms as group updates on trading

FTSE 100 watch: Footsie steady after Brexit delay vote

The UK benchmark index has climbed higher in today’s session, as MPs vote to delay the country’s exit from the European Union. Berkeley Group (LON:BKG) meanwhile is outperforming the FTSE 100 after updating investors on its recent performance.

FTSE 100 holds steady

As of 12:46 GMT, the Footsie had added 46.35 points to stand 0.65 percent higher at 7,231.78, building on this week’s gains. Sentiment has been upbeat this Friday after UK lawmakers voted last night to delay Brexit. The vote comes after earlier this week, MPs rejected Prime Minister Theresa May’s Brexit deal, as well as leaving the bloc without an agreement in place.

“The FTSE 100 continues to climb, testing the 7,215 area that marked the peak just over a week ago,” Chris Beauchamp, market analyst at IG, commented in a note, adding that this new high confirmed the index’s uptrend and would bring the 7,240-point and 7,260-point levels into play, with rising trendline support to come into play around 7,170 points.

Individual Footsie movers

In individual blue-chip movers, shares in Berkeley Group have been in demand after the company reiterated its updated pre-tax profit guidance, which marks an increase of about eight percent in the guidance for the current year. Berkeley’s share price is currently 1.97 percent better off at 3,984.00p.

Kingfisher (LON:KGF) has extended gains from yesterday, when shares were demand as Jefferies argued that the extreme rebasing of the group’s French business has ‘entirely overshadowed’ positives elsewhere. The DIY retailer is currently 1.65 percent up at 242.95p, having added more than two percent in the previous session.

The FTSE 100 was 0.58 percent up at 7,226.82 points as of 13:04 GMT on Friday, 15 March 2019.

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