Equities By Region Indices UK

FTSE 100 watch: Footsie subdued after BoE decision

The UK benchmark index has been little changed in today’s session, following the Bank of England (BoE) decision to keep rates unchanged. Compass Group (LON:CPG) meanwhile is outperforming the FTSE 100 after updating investors on its performance.

FTSE 100 little changed

As of 12:39 GMT, the Footsie had given up 2.95 points to stand 0.04 percent lower at 7,170.14. A fall in the pound is lending support to blue-chips with international exposure amid uncertainty over Prime Minister Theresa May’s visit to Brussels as she looks to seek changes to the Brexit deal.

The BoE meanwhile left rates unchanged today and said in a statement that the economic outlook “will continue to depend significantly on the nature of EU withdrawal”.

“The Bank of England set a neutral tone today, as it announced an entirely expected unanimous no-chance decision,” Ben Brettell, the senior economist at Hargreaves Lansdown, commented, as quoted by Proactive Investors. “Where we go from here is highly uncertain, to the point that betting markets think there’s only a 30-percent chance we’ll actually leave the EU next month.”

Individual Footsie movers

In individual movers, Compass has been in demand as the company reported that organic revenue for the three months to December 31 had climbed 6.9 percent. Compass’ share price is currently 4.07 percent better off at 1,765.00p.

TUI Group (LON:TUI) has been at the other end of the spectrum after cutting its earnings forecasts in an update ahead of its first-quarter results next week due to last year’s heat wave as well as the continued sterling weakness. TUI’s shares are 18.24 percent down at 968.00p.

The FTSE 100 was 0.25 percent down at 7,155.24 points as of 13:07 GMT on Thursday, 07 February 2019.

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