FTSE 100 watch: Footsie little changed as investors eye Trump inauguration

Share On Facebook
share on Linkedin

The UK benchmark index has slipped marginally lower in today’s session, with investors staying on the sidelines ahead of the inauguration of US president-elect Donald Trump later during the day. In individual stock news, Premier Inn and Costa Coffee owner Whitbread (LON:WTB) is outperforming the FTSE 100 following an upgrade at Barclays.

As of 12:13 GMT, the Footsie had shed 6.83 points to stand 0.09 percent lower at 7,201.61. Sentiment has been subdued today, with investors awaiting Trump’s inauguration, expected to start shortly after the London market closes.

“Trump’s aggressive fiscal stimulus plans have been priced in by the markets to an extent where investors could now sit back and watch how fast his promises will be concretised,” London Capital Group analyst Ipek Ozkardeskaya told Reuters.

Whitbread’s share price meanwhile has gained 1.50 percent to 4,132.00p, after Barclays lifted its stance on the Costa Coffee and Premier Inn owner from ‘underweight’ to ‘equal weight’, and hiked its valuation on the stock from 3,340p to 4,150p. Sharecast quoted the analysts as saying that they expected the company to report a ‘good’ third quarter and an ‘excellent’ fourth quarter trading statement on January 26 on the back of strong data in London and the UK.

In other notable movers, Royal Mail Group (LON:RMG) has extended yesterday’s losses, with investors continuing to digest the postal operator’s flat revenue for the first nine months of its financial year. The company’s shares are currently changing hands 3.03 percent in the red at 409.70p.

The FTSE 100 index was 0.04 percent down at 7,205.75 points as of 12:26 GMT on Friday, 20 January 2017.

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This article was provided by Windsor Brokers. Click here for more information.

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

Do you want to write for our Newspaper? Get in touch: newspaper@advfn.com

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20230320 09:12:51