FTSE Off to Subdued Start On Tuesday

The FTSE 100 got off to a subdued start this morning, after having enjoyed gains of 150 points yesterday.

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shareprices.com - Tuesday, April 25, 2017

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Whitbread

The UK’s leading index advanced just five points in the early hours of the trading day, with investors taking a reflective stance after the dust settled from the first round of the French elections.

Shares in Whitbread - the owner of Costa Coffee, fell by five percent after the group showed slowing sales. Neil Wilson, an analyst at ETX Capital, noted that smaller, independent coffee shops appear to be picking up a lot of the chains traditional custom. In addition, Whitbread owns the Premier Inns hotel chain, and the rise of independent accommodation providers such as Airbnb is denting growth in that side of the business.

Meanwhile, Anglo American lost two percent, making it the poorest performer among the miners.

Wealth management company St James’ Place was at the top of the leader board. It published positive first quarter new business numbers. The advance was just one percent, but it stood out among a generally muted trading morning.

In the small-caps, Collagen Solutions enjoyed a five percent rise following strong trading update.

The overall tone for the rest of the day is expected to be generally positive, although not as strong as yesterday’s surge. Overnight there were strong showings from the US and Asian markets, which both responded positively to the outcome of the first round of the French election, which suggests that a Frexit is now unlikely.

 

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