FTSE 100 watch: Footsie subdued amid company news

The UK benchmark index has slipped marginally lower in today’s session, with investors digesting a string of corporate updates amid the ongoing earnings season. Royal Bank of Scotland Group (LON:RBS) is proving a drag on the FTSE 100 after posting a drop in Q1 profits, while shares in Glencore (LON:GLEN) have been sold off as the company faces another probe on the other side of the Atlantic.

FTSE 100 subdued

As of 14:21 BST, the Footsie had given up 7.33 points to stand 0.1 percent lower at 7,426.80. Chris Beauchamp at IG commented in a note today that Britain’s blue-chip index remained under pressure, falling back toward the 7,400-point level.

“Further declines head towards 7,300 and then down to 7,287 and the 50-day simple moving average,” he pointed out, adding that a break above 7,460 points restored a more bullish view.

Individual movers

Investors are digesting a lot on the corporate front this Friday, including RBS’ first-quarter results which revealed a fall in profits amid the Brexit uncertainty. Shares in the bailed-out lender are currently changing hands 4.04 percent lower at 239.90p.

Glencore meanwhile is down 2.85 percent down at 312.30p after disclosing that it was being investigated by the US Commodity Futures Trading Commission, in addition to an ongoing probe by the Department of Justice.

Just Eat (LON:JE) has been another prominent Footsie faller as it revealed that its order growth had slowed down in the first quarter. Shares in the online takeaway service are 5.08 percent down at 710.60p.

WPP (LON:WPP), however, has proved a bright spot in the blue-chip leaderboard despite posting a revenue drop. Shares in the advertising giant are 5.01 percent better off at 951.40p.

The FTSE 100 index was 0.11 percent down at 7,425.62 points as of 14:29 BST on Friday, 26 April 2019.