FTSE 100 watch: Footsie ends winning streak after Trump speech

on Feb 6, 2019
Updated: Mar 11, 2020
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The UK benchmark index has fallen into the red in today’s session, ending a six-day winning streak, following US President Donald Trump’s State of the Union address. In individual movers, Ocado (LON:OCDO) has tumbled after updating on a fire in one of its customer fulfilment centres, while CRH (LON:CRH) is rallying after it emerged that an activist investor had built up a stake in the company.

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FTSE 100 ends winning streak

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As of 13:08 GMT, the Footsie had given up 5.37 points to stand 0.08 percent lower at 7,172.00. The blue-chip index has taken a breather following President Trump’s speech last night which failed to assuage concerns over the country’s trade relations with China.

Reuters, however, quoted London Capital Group analyst Jasper Lawler as commenting that there was nothing “too shocking to cause any kind of risk aversion in the address”.

“What we are seeing is just a little bit of weakness giving back some of those gains […] more like profit-taking than any new contributing factor,” he pointed out.

Individual Footsie movers

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In individual blue-chip movers, shares in Ocado have been sold off after the company reported that the fire in  its Andover distribution centre was likely to result in  a reduction in sales growth until the company can increase capacity elsewhere. Shares in the online grocer are currently 7.68 percent worse off at 954.60p.

CRH meanwhile has jumped 2.26 percent to 2,355.00p after it emerged that activist investor Cevian Capital had built up a stake in the Irish building materials group to become its second-largest shareholder.

The FTSE 100 was 0.15 percent down at 7,166.81 points as of 14:46 GMT on Wednesday, 06 February 2019.

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