You are here: Home - Investing -

FTSE 100: This morning’s risers and fallers

Written by:
London's blue chips began the session on a weak footing ahead of what was expected to be a very busy week both at home and abroad in terms of economic data and events, particularly in the latter half.

Approximately an hour after the start of trading the Footsie was slipping lower by 22 points to 6,628.

“European markets are set for an incredibly busy week as we see the first week of the new month,” said Alpari UK market analyst James Hughes.

He continued: “The story overnight is yet again the strength of the US dollar as Asian markets fell led by a thrashing in Hong Kong […] However, if anything is going to shift investor opinion about the dollar it could well be this week as the data is incredibly heavy.

“This afternoon we will get the release of the personal consumption numbers [Stateside] as well as pending home sales figures. Investors will be yet again looking for any kind of positive number that could force Janet Yellen’s hand into an earlier rate hike.”

Petrofac leads gains on the FTSE 100

In company news, shares of oil field services outfit Petrofac was leading gains on the heels of an upgrade out Credit Suisse to ‘outperform’ from ‘neutral’. The Swiss broker believes that the company’s stock offers compelling value given that it is now at four-year lows.

Emerging markets focused asset manager Aberdeen saw assets under management (AuM) rise by 3 per cent in the two months to 31 August, as the rate of net outflows moderated considerably. Net outflows over the last two months amounted to just £1.7bn, after a drain of £8.8bn in the two months prior. The largest decrease in AuM was seen at Aberdeen’s fixed income unit. Executives at the fund manager also highlighted that the integration of Scottish Widows Investment Partnership (SWIP) was progressing as scheduled.

Despite the on-going, yet limited, disruptions to trading as a result of the ‘sequestration’ of US federal government expenditure, defence contractor BAE Systems maintained its full-year earnings outlook. In its latest interim management statement for the three months ended 28 September, the group revealed that its order intake for the year to 23 August was at £7.9bn, with £2.6bn of that originating from non-UK/US markets.

Astrazeneca has presented data relating to various cancer treatment studies at the 2014 European Society of Medical Oncology Congress. “We are encouraged by the results we are seeing and look forward to providing further updates as we continue to work at pace to get these potentially life-changing medicines to patients,” the drugs group said.

Source: ShareCast

Related Posts


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.

Autumn Statement: Everything you need to know at a glance

Yesterday Chancellor Jeremy Hunt made his first fiscal statement in the role, outlining a range of tax measure...

End of Help to Buy: 10 alternatives for first-time buyers

The deadline for Help to Buy Equity Loan applications passed on 31 October. If you’re a first-time buyer who...

Moving to an energy prepayment meter: Everything you need to know

As households struggle with the soaring cost of energy, tens of thousands of billpayers are expected to move o...

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.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week