FTSE 100 watch: Footsie inches higher but stays on track for loss this week

The UK benchmark index has climbed higher this Friday, ending this week’s losing streak, following a positive lead from Asia. In individual FTSE 100 movers, shares in Vodafone (LON:VOD) have been sold off as the company posted a drop in quarterly revenue.

FTSE 100 climbs higher

As of 12:39 GMT, the Footsie had added 5.10 points to stand 0.08 percent higher at 6,824.05, ending a three-session losing streak. The index, however, remains on track for a loss this week, pressured by global growth and Brexit concerns.

Blue-chip miners are helping keep the FTSE 100 afloat today, tracking metals prices higher. Fresnillo (LON:FRES) is currently the sector’s biggest riser in percentage terms, trading 3.09 percent higher at 919.60p, followed by Glencore (LON:GLEN), with a 2.53-percent gain.

Individual Footsie movers

Vodafone

meanwhile has been one of today’s most notable FTSE 100 fallers after reporting a fall in revenue for the third quarter of its financial year, and flagging impact of new accounting standards on its full-year earnings.

“Most revenue metrics for the quarter are under pressure, with additional headwinds coming from foreign exchange,” Richard Hunter, the head of markets at interactive investor, commented, as quoted by Proactive Investors. Vodafone’s shares are currently changing hands 2.94 percent lower at 139.80p.

Rentokil Initial (LON:RTO) has been another notable FTSE 100 faller after the Competition and Markets Authority ordered the company to sell several large supply contracts, following an in-depth investigation into the blue-chip group’s merger with Cannon Hygiene. Rentokil’s shares are currently 0.69 percent worse off at 331.80p, having traded more than one percent lower earlier in the session.

The FTSE 100 index was 0.07 percent up at 6,823.93 points as of 12:51 GMT on Friday, 25 January 2019.