You are here: Home - Investing -

FTSE 100: This morning’s risers and fallers

0
Written by:
09/07/2014
UK stocks fell for a third straight day on Wednesday as investors continued to show caution after the recent rally, with the focus on minutes of the latest Federal Reserve meeting due out this evening.
FTSE 100: This morning’s risers and fallers

A steep drop in the share price of Admiral was weighing on markets early on after a disappointing first-half update from the insurer.

The FTSE 100 was trading nearly 0.3% lower at 6,721 after finishing Tuesday’s session at 6,738.45, its lowest close since June 26th.

The index had come within touching distance of multi-year highs when it settled at 6,866.05 on Friday following the much better-than-expected US jobs report.

However, optimism has been quickly dampened by concerns that a stronger economy may prompt the Fed to begin raising interest rates earlier than expected, with a number of analysts bringing forward their forecasts for the first rate hike in recent days. Minutes of the June 17-18th Federal Open Market Committee meeting will be released at 17:00.

“While we don’t expect too many surprises from them, given recent commentary from some Fed officials the market could well be underestimating the timing of a rise in interest rates in the US,” said Michael Hewson, Chief Market Analyst at CMC Markets UK.

Consumer price data from China was also making headlines this morning after inflation eased more than estimated to 2.3% in June, down from 2.5% the month before and well below the level targeted by the central bank.

On a positive note, aluminium group Alcoa kicked off second-quarter US earnings season strongly on Tuesday night with a return to profit on the back of lower restructuring and cost-cutting measures. Adjusted earnings per share rose to 18 cents from seven cents, beating the 12 cents consensus forecast.

Admiral disappoints with falling revenues

Car insurer Admiral reported a 9% decline in revenues in the first half despite an increase in customers, as premiums fell on last year. “In the UK there are some signs that premiums are no longer falling but we have yet to see firm evidence of an inflection point and a return to premium growth,” said Chief Executive Henry Engelhardt.

Insurance peers Aviva and Standard Life were also trading lower this morning.

Airline stocks easyJet and IAG were performing well as shares recovered after a heavy sell-off on Tuesday on the back of a profit warning from Air France-KLM.

Pubs group JD Wetherspoon was out of favour after reporting that sales have slowed in recent weeks as England crashed out of the World Cup.

Bottling firm Coca-Cola HBC and high street retailer Next in negative territory today after going ex-dividend, along with WS Atkins, Carphone Warehouse, Entertainment One and Vedanta Resources.

FTSE 100 – Risers
Randgold Resources Ltd. (RRS) 5,080.00p +2.48%
easyJet (EZJ) 1,275.00p +2.16%
Fresnillo (FRES) 937.50p +1.85%
International Consolidated Airlines Group SA (CDI) (IAG) 341.50p +1.67%
Royal Mail (RMG) 473.20p +0.98%
Whitbread (WTB) 4,308.00p +0.94%
GKN (GKN) 355.40p +0.85%
Anglo American (AAL) 1,510.50p +0.67%
Aberdeen Asset Management (ADN) 456.50p +0.66%
Aggreko (AGK) 1,703.00p +0.53%

FTSE 100 – Fallers
Admiral Group (ADM) 1,481.00p -5.91%
Aviva (AV.) 498.00p -2.83%
Next (NXT) 6,355.00p -2.16%
Coca-Cola HBC AG (CDI) (CCH) 1,305.00p -1.88%
St James’s Place (STJ) 754.00p -1.76%
Marks & Spencer Group (MKS) 421.90p -1.29%
Lloyds Banking Group (LLOY) 72.45p -1.25%
Barclays (BARC) 211.30p -1.12%
Legal & General Group (LGEN) 224.00p -1.06%
BAE Systems (BA.) 416.30p -0.88%

Source: ShareCast

Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

The savings accounts paying the most interest

If one of your jobs this month is to get your finances in order, moving your savings to a higher paying deal i...

Everything you need to know about being furloughed

Few people had heard of ‘furlough’ before March 2020, but the coronavirus pandemic thrust the idea of bein...

Coronavirus and your finances: what help can you get in the second lockdown?

News and updates on everything to do with coronavirus and your personal finances.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

  • @YourMoneyUK I will be travelling to UK from Gran Canaria and im in reciept of pension credit, am i eligible for this payment?
  • Unclaimed money scheme expanded to aid Covid recovery: https://t.co/lQgBdlQJE0 @YourMoneyUK
  • RT @thenutmegteam: Keeping on top of your pension now could well pay dividends in the future. ⏳ Nutmeg's savings and investments specialis…

Read previous post:
Know your consumer rights, says USwitch

Seven million Brits have lost out by not understanding their consumer rights, and many more are not sure of their...

Close