FTSE 100 watch: Footsie falters as Apple worries weigh on sentiment

The UK benchmark index has slipped into the red on the second trading day of 2019, pressured by a revenue warning from US tech giant Apple which is weighing on global market sentiment. In individual FTSE 100 movers, Next’s (LON:NXT) Christmas update has fuelled demand for the retailer’s shares.

FTSE 100 traders lower

As of 12:24 GMT, the Footsie had given up 26.75 points to stand 0.40 percent lower at 6,707.48. Sentiment has been subdued today after Apple’s revenue warning fuelling global growth concerns. The tech giant’s CEO Tim Cook said in an interview with CNBC’s John Lipton yesterday that trade tensions between the US and China were one factor weighing on the group’s outlook.

At home, data showed that the UK construction purchasing managers’ index had fallen to a three-month low of 52.6 last month.

“Construction activity in December was primarily held back by weaker commercial activity which was at a seven-month low. House building growth also dipped. This outweighed civil engineering activity picking up to a 19-month high,” Howard Archer, the chief economic advisor to the EY ITEM Club, commented, as quoted by Proactive Investors.

Next shares rally

Next has been one of today’s most notable individual blue-chip performers after it posted a rise in sales over the crucial Christmas period, even as it lowered its profit guidance for the full year.

“November was indeed difficult for Next as well, but Christmas did arrive ultimately, with the last three weeks of December being very strong in sales terms,” said Peel Hunt analysts, as quoted by Reuters. Next’s shares are 4.69 percent up at 4,373.00p.

The FTSE 100 was 0.29 percent down at 6,714.73 points as of 12:48 GMT on Thursday, 03 January 2019.