London is lagging behind after weak trade updates from FTSE companies

The FTSE ended the day in the red as a series of poor trade updates and commodity price pressures on mining companies weighed on trade.

BP, Standard Chartered and Flutter all pulled down London’s top indexes after investors were not impressed with their morning announcements.

The FTSE 100 closed 13.81 points, or 0.19%, lower at 7,274.81 on Tuesday.

Danni Hewson, AJ Bell’s financial analyst, said: “The London markets seem to have left the party early with all the indices not making progress.

Miners and BP have kept the FTSE 100 on hold, the former reacting to commodity prices, and the latter has failed to please investors who question how long revenues can be lifted by the current climate.

“And updates from Standard Chartered and Flutter were met with disappointment, as both provided disappointing prospects for various reasons.”

Oil giant BP closed lower on Tuesday despite a generally positive trade update (Andrew Milligan / PA)

(PA line)

Elsewhere in Europe, the picture was markedly different, with key markets following suit with their recent recovery.

The German Dax rose by 0.89%, while the French Cac rose by 0.56%.

Across the Atlantic, U.S. markets made modest gains on the opening bell as they continued their momentum from Monday’s star session.

Meanwhile, currency traders were largely cautious ahead of central bank meetings, with the pound falling ahead of Thursday’s Bank of England interest rate decision.

The pound was 0.03% lower against the US dollar at 1.361 and fell 0.01% against the euro at 1.175.

In company news, BP fell lower despite achieving better-than-expected profits in the third quarter, as the global economic recovery causes energy costs to rise higher.

The oil major also announced a further $ 1.25 billion (£ 915 million) in share buybacks, but saw a drop in sentiment after confirming that on a reported basis it fell to a quarterly loss of $ 2.9 billion (2.1 billion pounds).

The stock was 12.05p lower at 344.95p at the close of the game as a result.

Betting giant Flutter also saw its shares fall as it reduced its full-year earnings expectations following a recent string of customer-friendly sports scores.

The group said it was left with a hit of around £ 60m due to adverse results in the first 24 days of October, while also expecting a £ 10m loss to earnings in the fourth quarter due to a temporary exit from Netherlands after a change in the rules.

The stock closed 1,080p lower at 12,955p.

THG’s problems continued as it turned out that the e-commerce firm’s largest institutional investor BlackRock has reduced its shares in the firm by almost half.

The shares ended at a record low level and fell by 20p to 197.4p after BlackRock sold 58 million shares in the company.

Oil prices fell slightly from recent peaks amid continuing uncertainty about the outlook for global demand.

Brent oil fell 0.41% to $ 84.36 per barrel. barrel.

The biggest rises on the FTSE 100 were AstraZeneca, up 289p at 9,427p, Bunzl, up 55p at 2,757p, Informa, up 10p at 534.8p, ​​and Rentokil, up 11p at 605.8p.

Today’s biggest fallers were Standard Chartered, a fall of 39.7p at 466.1p, Flutter, a fall of 1,080p at 12,955p, Darktrace, a fall of 49p at 632.5p, and Antofagasta, a fall of 78.5p at 1,360p.

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