FTSE 100 watch: Footsie steady as investors digest data and company news

The UK benchmark index has climbed marginally into positive territory as investors digested company releases and the country’s services purchasing managers’ index (PMI). Intertek (LON:ITRK) has been one of the session’s most notable FTSE 100 fallers after updating investors on its full-year performance.

FTSE 100 little changed

As of 12:26 GMT, the Footsie had added 8.66 points to stand 0.12 percent higher at 7,143.05. The index has been little changed following downbeat leads from the US and Asia and with investors digesting the UK services PMI for February, released today.

“Some of the FTSE 100’s early gains have been trimmed as a result of a stronger services PMI figure for the UK, but activity in the UK’s most important sector remains under pressure, with employment and demand both weakening,” Chris Beauchamp, the chief market analyst at IG, commented, as quoted by Proactive Investors. “Yesterday’s sudden drop in indices came as something of a shock, but the bulls are not giving up without a fight, and we have already seen attempts to regain lost ground.”

Individual Footsie movers

In individual movers, shares in Intertek have been sold off even as the support services group posted revenue and earnings growth for last year. Going forward, the company expects “to deliver good organic revenue growth performance at constant currency in 2019, with moderate group margin expansion and strong cash generation”. Intertek’s share price is 2.97 percent worse off at 5,034.00p.

J Sainsbury (LON:SBRY) meanwhile is 0.86 percent down at 231.70p as Kantar Worldpanel disclosed that the grocer’s sales had fallen in the 12 weeks to February 24.

The FTSE 100 was 0.33 percent up at 7,158.16 points as of 12:52 GMT on Tuesday, 05 March 2019.