FTSE 100 Flat In Lackluster Trade; Barratt Redrow Rises On Strong Earnings
(RTTNews) - U.K. stocks are moving in a tight band along the flat line Wednesday morning as investors largely stay cautious ahead of U.S. consumer price inflation data due later in the day.
Fears of a global trade war following fresh tariffs by the Trump administration weigh on sentiment.
The benchmark FTSE 100, moving in a tight range between 8,775.04 and 8,791.52, wis down marginally at 8,776.90.
Shares of residential property developer Barratt Redrow are up more than 6% after the company launched a £50 million share buyback and said it expects annual earnings towards the upper end of market view.
Barratt Redrow reported profit before tax of 117.2 million pounds for the first half, 23.1% higher than 95.2 million pounds in the comparable period last year. Adjusted profit was 121 million pounds or 9.1p per share versus 114.8p per share or 11.6p per share a year ago.
Additionally, the company plans to buy back its ordinary shares of 10 pence each, for up to 50 million pounds starting from February 12, 2025, through June 30, 2025.
Croda International is up nearly 4%. Kingfisher, JD Sports Fashion, Land Securities, Prudential, British Land Company, EasyJet, Barclays Group, Entain and Schrodders are up 1.4 to 2.5%.
Reckitt Benckiser, Centrica, BP, GSK, Endeavour Mining, Shell, St. James's Place, Scottish Mortgage and Glencore are down 0.5 to 1.5%.
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Bay Street Likely To Open On Positive Note
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FTSE 100 Flat In Lackluster Trade; Bank Stocks Drifting Lower
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DAX Remains Weak Despite Paring Some Early Losses
