FTSE 100 watch: Footsie subdued amid downbeat China data

FTSE 100 watch: Footsie subdued amid downbeat China data

The FTSE 100 has been little changed in London this Tuesday, pressured by downbeat data out of China. In individual movers, JD Sports (LON:JD) is rallying on the back of a strong set of half-year results.

FTSE 100 little changed

As of 12:35 BST, the blue-chip index had added 2.78 points to stand 0.04 percent lower at 7,238.59. Sentiment has been subdued in today’s session after disappointing factory data out of China, the world’s biggest metals consumer.

At home, Reuters reports that Prime Minister Boris Johnson had said that  he would not request an extension to Brexit, hours after a law came into force demanding that he delay Britain’s departure from the European Union until 2020 unless he can strike a divorce deal.

Individual Footsie movers

In individual FTSE 100 movers, JD Sports has soared as it reported that its revenue had soared 47 percent in the first half of its financial year, while its  headline profit before tax and exceptional items rose by 30 percent.

“Notwithstanding the ongoing uncertainty with regards to Brexit, the Board is confident that, without the impact from the transition to IFRS 16, the Group would have been on track to deliver headline profit before tax for the full year at the top end of market expectations which currently range from £402 million to £424 million,” the group’s CEO Peter Cowgill said in the statement. JD Sports’ share price is 6.20 percent up at 671.80p.

At the other end of the spectrum has been Ashtead (LON:AHT), whose shares have been sold off even as the rental equipment group posted a rise in revenue and profits. Ashtead’s shares are down by 2.06 percent at 2,240.00p.

The FTSE 100 0.07 percent up at 7,240.90 points as of 12:59 BST on Tuesday, 10 September 2019.

By Tsveta van Son
Tsveta van Son is part of Invezz’s journalist team. She has a BA degree in European Studies and a MA degree in Nordic Studies from Sofia University and has also attended the University of Iceland. While she covers a variety of investment news, she is particularly interested in developments in the field of renewable energy.
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