It’s been a mixed morning with the Footsie initially looking resilient against the ongoing media narrative on Trump talks and presumptions that the pound’s fall below US $1.29 has been the FTSE’s gain. As of 12.38 the blue-chip index is up 0.014 per cent at 7575.29 points.
Individual footsie movers
In individual stock news, big name oil companies, Royal Dutch Shell (LON:RDSB) and BP (LON:BP) have been performing well, with the former up 0.76 per cent at 2587.00 p and BP up 0.47 per cent at 557.20 points, as of 12.11 BST.
Carrlo Alberto de Casa, chief analyst at Activtrades said: “From a fundamental point of view, while growing fears for a trade war was a min story in the last few weeks, investors are now betting on crude again, due to the sharp drop in US oil supply and the escalation of tension with Iran.” as quoted by Reuters.
Reuters also reported that CRH ( LON: CRH) , which published its half year trading update today, was up 0.7 per cent, quoting AJ Bell investment director, Russ Mould as saying: “Weather disruption has not prevented building materials business CRH from chalking up a solid first half.”
High street confidence
Ranking top of the UK benchmark index are high street retailers following a Fulham Shore PLC’s trading update containing ‘encouraging’ revenue growth. An upward trend seen by other retailers following a report from the Confederation of British Industry which highlighted the warmer weather and the World Cup contributed to an uplift in sales over the summer period, as reported by Proactive Investors.Meanwhile, Imperial Brands (LON:IMB) which has gone ex-diviend today, has taken a fall of 0.69 per cent to 2875.00 points.