FTSE Down Marginally In Cautious Trade; JD Sports Fashion Falls On Profit Warning
(RTTNews) - U.K. stocks are underperforming other European markets on Tuesday with investors largely staying cautious following some downward revisions in earnings forecasts.
The FTSE 100, which is moving in a tight band, is down 7.59 points or 0.09% at 8,216.60.
Persimmon is rising 5.5%. The stock is up thanks to a 7% increase in home completions. The company also said it expects its profit to come in at the upper end of expectations.
St. James's Place, Taylor Wimpey, Ashtead Group, Barratt Redrow, Airtel Africa, Informa and Convatec Group are gaining 2 to 3%.
Hikma Pharmaceuticals, Pershing Square Holdings, Auto Trader Group, M&G, Rolls-Royce Holdings, IAG, Scottish Mortgage, Rio TInto, EasyJet and Legal & General are up 1 to 1.8%.
JD Sports Fashion is plunging 7.5%, dropping to a near 5-year low in the process. The stock is down after cutting guidance, with pretax profit expectations falling 4% below consensus.
BP is down 2.3%, weighed down by the company's warning that expects a $100-$300 million hit to fourth-quarter profits due to weaker refinery margin and lower production.
Games Workshop, ICG and BP are down 3.4%, 2.7% and 2.3%, respectively. Next, British American Tobacco, GSK, Diageo, Tesco and Centrica are down 1 to 1.5%.
European Stocks Close Weak On Profit Taking, U.S. Trade Policy Uncertainty
Swiss Franc Rises Against U.S. Dollar, Pound
U.S. Dollar Extends Decline After Weak Retail Sales Data
U.S. Business Inventories Unexpectedly Dip 0.2% In December
U.S. Industrial Production Climbs More Than Expected As Utilities Output Spikes
U.S. Import Prices Rise Modestly In January, But Export Prices Surge
U.S. Retail Sales Slump Much More Than Expected As Auto Sales Plunge
