FTSE 100 watch: Footsie subdued after Trump-Kim meeting

The UK benchmark index has slipped into the red in today’s session, following the summit between US President Donald Trump and North Korean leader Kim Jong Un. Investors are also digesting a string of FTSE 100 company releases amid the ongoing earnings season.

FTSE 100 slips lower

As of 13:37 GMT, the Footsie had lost 34.71 points to stand 0.49 percent lower at 7,072.49. Geopolitical worries are weighing on investor sentiment today after the White House disclosed that President Donald Trump and North Korean leader Kim Jong Un did not reach an agreement at the end of this week’s meeting in Vietnam’s capital Hanoi.

“I don’t think this will ultimately have too much bearing on global indices in the longer term,” said Markets.com analyst Neil Wilson, as quoted by Reuters, adding, however, that “for now with hopes of a deal with China on trade not exactly fading, but certainly not rising, it’s 0 from 2 for Trump this week and risk sentiment is suffering as a result”.

Blue-chip movers

Rolls-Royce Holdings (LON:RR) has been one of today’s most notable FTSE 100 fallers despite reporting a rise in 2018 revenue. The British engine maker, however, also disclosed that it had decided to pull out of a competition to power a new Boeing platform. The group’s shares are 3.36 percent down at 949.80p.

In other Footsie fallers, RSA Insurance (LON:RSA) meanwhile has given up 4.06 percent to 505.20p as it reported a fall in operating profit.

The FTSE 100 was 2.08 percent down at 2,737.00 points as of 14:01 GMT on Thursday, 28 February 2019.