FTSE 100 watch: Footsie inches lower amid profit-taking

on Feb 18, 2019
Updated: Mar 11, 2020
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The UK benchmark index has slipped marginally lower in London in today’s session amid some profit-taking, and with a stronger pound weighing on blue-chips with international exposure. Reckitt Benckiser (LON:RB) meanwhile is outperforming the FTSE 100 after updating investors on its full-year performance.

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FTSE 100 inches lower

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As of 12:36 GMT, the Footsie had shed 8.89 points to stand 0.12 percent lower at 7,227.79. A stronger pound is weighing on blue-chips with international exposure with investors mulling over Brexit. Reuters meanwhile reports that Accendo Market’s Michael van Dulken has pointed to some profit-taking.

“I guess many people have been looking with the FTSE in a rising channel and nudging the ceiling of the channel, ‘let’s crystallise some of those profits before they get pulled away either by a trouble with trade talks or a Brexit problem’,” the analyst pointed out, as quoted by the newswire.

Individual Footsie movers

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In individual FTSE 100 risers and fallers, Reckitt Benckiser is outperforming the broader market after reporting forecast-beating sales and saying that  it expects momentum to continue in the new year.

“Investors will not be rushing for the Nurofen this morning as there was a solid performance across the business from Reckitt Benckiser in its full year results,” said Graham Spooner, investment research analyst at The Share Centre, as quoted by Proactive Investor. The group’s shares are changing hands 5.17 percent higher at 6,328.00p.

Pearson (LON:PSN) meanwhile has been one of today’s blue-chip fallers after disclosing that it had inked a deal to sell its US K12 courseware business to Nexus Capital Management for headline consideration of $250 million. Pearson’s shares are one percent worse off at 911.40p.

The FTSE 100 was 0.13 percent down at 7,227.03 points as of 13:01 GMT on Monday, 18 February 2019.

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