FTSE 100 watch: Footsie steady as Trump presidency concerns ease

on Nov 14, 2016

The UK benchmark index has climbed into positive territory in today’s session, amid easing concerns over Donald Trump’s win in the race for the White House last week. In individual movers, DCC (LON:DCC) has climbed to the top of the blue-chip leaderboard after updating investors on its first-half performance.

As of 12:38 GMT, the Footsie had added 25.53 points to stand 0.38 percent higher at 6,755.96, having traded more than one percent higher earlier in the session.
“A positive start to the week comes from further easing of concerns about a Trump presidency. Certain appointments (chief of staff, chief strategist) have proved more conventional than feared, while certain populist issues aren’t being focused on so much,” Mike van Dulken and Henry Croft at Accendo Markets, commented, as quoted by the Guardian, adding that expectations of an infrastructure spending spree, fiscal stimulus and deregulation were “intensifying the bond market sell-off via hopes of growth, inflation and, more importantly, interest rate rises”.

In individual stock news, DCC’s share price has spiked 4.39 percent to 6,300.00p after the company revealed that its operating profit had climbed by a third in the first six months of its financial year, and forecast that both its operating profit and adjusted earnings per share for the full year will be ahead of market expectations.
“DCC is a very well-run company,” Jonathan Roy of Charles Hanover Investments, told Reuters. “They’re actually exposed in quite a few different areas, so it’s a company that doesn’t really trade on external factors. It’s all about its internal progression, and that’s been quite strong.”
**The FTSE 100 index was 0.30 percent up at 6,750.35 points as of 12:43 GMT on Monday, November 14, 2016.**

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