FTSE 100 watch: Footsie little changed as referendum caution returns

on Jun 21, 2016

The UK benchmark index has been subdued in today’s session, taking a breather from yesterday’s rally, with investors staying on the sidelines ahead of Thursday’s EU vote. In individual movers, Costa Coffee and Premier Inn owner Whitbread (LON:WTB) has climbed to the top of the FTSE 100 leaderboard after updating investors on its recent performance.

As of 12:28 BST, the FTSE 100 had gained 3.15 points to stand 0.05 percent higher at 6,207.12, having traded marginally lower earlier in the session.
“This week’s early enthusiasm in the UK markets appears to have eased this morning,” Ipek Ozkardeskaya at London Capital Group said, as quoted by the Guardian. “Although the latest Brexit polls were in favour of the ‘Remain camp’, not much has changed fundamentally regarding the Brexit probabilities.”

Miners are leading the blue-chip index lower, pressured by falling commodity prices. Anglo American (LON:AAL) has posted the most notable losses in the sector so far today’s having shed 2.28 percent to stand at 654.71p. Housebuilders, which are expected to suffer if the UK votes to leave the EU, have also been sold off in today’s trading. Berkeley Group (LON:BKG) is leading the sector lower having shed 0.96 percent to 3,214.00p.
In individual movers, Whitbread’s share price has rallied 2.85 percent to 4,156.00p after the company reported that its like-for-like sales had climbed 1.8 percent in the 13 weeks ended June 2, helped by strong performance at Costa Coffee, whose LFL sales came in 2.6 percent higher.
“Costa Coffee continues to provide the main stimulus behind Whitbread’s sales growth,” Russ Mould, AJ Bell investment director, told Reuters.
**The FTSE 100 index was 0.15 percent up at 6,213.18 points as of 12:47 BST on Tuesday, June 21, 2016.**

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