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FTSE 100: This morning’s risers and fallers

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The Footsie was trading little changed early on in the session, ahead of what was set to be a busy week, particularly in the latter half.

The top tier index was standing 5.29 points higher than Friday’s close of 6,791.55 as of 09:11.

While geopolitical tensions continued to be in focus, traders were also looking to the many corporate releases and economic data set to be released throughout the week, not least Friday’s monthly non-farm payrolls numbers Stateside.

Alpari UK Analyst Craig Erlam said that with little out from Europe in the early part of the week, “the US is likely to be the biggest driver of most of the major markets this week”.

He continued: “This is particularly true in the second half of the week when we’ll have a barrage of massive economic indicators, almost 100 S&P 500 companies reporting second quarter earnings and a Federal Open Market Committee decision to cap everything off.

“Do not underestimate how big an impact that final few days of the week could have on the markets. We’ve all been looking for that thing that brings volatility back to the markets, well this could well be it.”

The build up to this could result in some degree of greater risk aversion, he further explained, although the number of companies releasing results will help to limit this.

Data that is due to be released later on today includes the US July Markit services and composite Purchasing Mangers’ Index (PMI) figures, alongside June pending home sales.

Back in the UK, and in this morning’s company news, Reckitt Benkiser said that it expects market conditions to remain challenging in the second half of the year, particularly in the US and certain emerging markets, but that it was still on track to achieve its full year total revenue growth target of 4-5%. The household goods group also announced that it is planning to hive off its drug arm into a separate UK-listed company.

A breakup of GlaxoSmithKline is a possibility as a result of a sweeping overhaul of the group, according to the Chief Executive of the pharmaceuticals giant, the Financial Times reports.

Budget airline Ryanair more than doubled its first quarter profit and said it was raising annual profit expectations, but warned of second-half pressure on fares from rival price-cutting. Ryanair said first quarter net profit rose 152% to €197m versus the same time a year ago due partly to a strong Easter, but cautioned that it compared with no holiday in the same period last time.

Aberdeen Asset Management reported a pick-up in business in Asia and emerging markets, but revealed a slight fall in assets under management. Assets under management at June 30th totalled £322.5bn, down 0.6% on the £324.5m at the end of March 2014.

Randgold Resources said it was focusing on its Tongon gold mine in Côte d’Ivoire where it is “continuing to make headway” in its efforts to overcome the technical issues that have affected its performance. Chief Executive Mark Bristow admitted this year’s planned ramp-up in production had not been achieved due to the need to expand the flotation circuit and the mechanical failure of the recently installed Vibrocone crushers, intended to improve the recovery and throughput rate.

National Grid reported a continued “solid operational and financial performance” between April 1st and July 27th, with the UK delivering operational efficiencies and progress with its investment programme, while the US saw a good operational performance.

FTSE 100 – Risers
Reckitt Benckiser Group (RB.) 5,220.00p +2.96%
Travis Perkins (TPK) 1,647.00p +1.29%
Diageo (DGE) 1,820.00p +1.25%
British Sky Broadcasting Group (BSY) 884.00p +1.09%
Fresnillo (FRES) 930.00p +1.03%
easyJet (EZJ) 1,345.00p +0.98%
Unilever (ULVR) 2,644.00p +0.92%
Morrison (Wm) Supermarkets (MRW) 172.50p +0.88%
Imperial Tobacco Group (IMT) 2,627.00p +0.84%
SABMiller (SAB) 3,361.50p +0.72%

FTSE 100 – Fallers
Aberdeen Asset Management (ADN) 442.20p -3.74%
Royal Bank of Scotland Group (RBS) 358.30p -1.62%
Hargreaves Lansdown (HL.) 1,058.00p -0.94%
Pearson (PSON) 1,124.00p -0.71%
BT Group (BT.A) 380.30p -0.70%
Land Securities Group (LAND) 1,044.00p -0.67%
ARM Holdings (ARM) 856.50p -0.64%
Persimmon (PSN) 1,272.00p -0.62%
Ashtead Group (AHT) 942.00p -0.53%
St James’s Place (STJ) 785.50p -0.51%

Source: ShareCast

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