FTSE 100 Opens Lower On Thursday

The FTSE 100 opened on a weak note, in spite of a strong performance from Next, and a sympathy increase from rival Marks and Spencer.

shareprices.com - Thursday, September 14, 2017

Printable version email to a friend Subscribe to shareprices.com newsfeed
Marks & Spencer Group

Next reported that it had seen a ten percent fall in half-year profits, but still raised its full-year sales and profit outlook, citing encouraging trading over the last three months. Shares in Next climbed by approximately ten percent on the news, while rival Marks and Spencer gained three percent.

In spite of this strength, the FTSE 100 shed 8.47 points, down to 7,371.23. Shares in Morrisons fell by three percent, although the latest results indicated that the recent strength at the supermarket chain was continuing. Investors remain dubious about the economic climate and the pressure that shoppers are facing due to weak wage growth in real terms.

Meanwhile, in the FTSE 250, shares in Spire Healthcare fell by 16 percent after their half year profits were hit by a legal settlement requiring them to compensate the victims of Ian Paterson - a rogue breast surgeon. The company has agreed to pay £27.2 million into a fund for the victims, and the payment has created a fall of 75% in Spire’s half-year profits, down to £8.9 million.

In the currency markets, the pound remained relatively flat against the dollar, sitting at $1.3215, and also remained flat against the euro. This may be welcome news for investors in FTSE 100 lsited companies which take most of their income in dollars, and enjoy a comparatively weak pound.


Latest News

Related News

FTSE 100 Latest

7,730.7929.83  % rise