Get 40% Off
These stocks are up over 10% post earnings. Did you spot the buying opportunity? Our AI did 😎Read how

UPDATE 2-FTSE 100 hit by economic worries, ex-dividend trades

Published 08/20/2020, 04:31 PM
Updated 08/21/2020, 12:20 AM
© Reuters.

* FTSE 100 lags S&P 500, STOXX 600 YTD
* Antofagasta drags main index after H1 profit fall
* Real estate stocks gain on defensive plays

(Updates to close)
By Muvija M and Ambar Warrick
Aug 20 (Reuters) - UK shares ended lower on Thursday after
the U.S. Federal Reserve struck a cautious note over the U.S.
economic recovery, while several big companies going ex-dividend
added to pressure on the bluechip index.
The FTSE 100 .FTSE ended down 1.6%, with insurer
Prudential PRU.L and miner Anglo American AAL.L among those
trading ex-dividend. The midcap index .FTMC fell 0.5%.
Minutes from the Fed's July 28-29 policy meeting warned of a
highly uncertain path for recovery from the global health crisis
that has hammered economic growth across the world. minutes are casting a shadow over markets and
underline that any recovery is not going to be a straight line
of advances," Markets.com analyst Neil Wilson said.
U.S. stocks have hit record highs despite the worries over
the economic recovery, while in Europe and Britain stock indexes
are yet to recover from falls caused by fallout from the virus.
The FTSE 100 is lagging its peers in Europe and in the United
States.
Real estate stocks .FTNMX8670 .FTUB8600 were one of the
few sectors that gained on the day, benefiting from safe-haven
demand.
On corporate news-driven moves, miner Antofagasta ANTO.L
fell more than 5% after reporting a plunge in half-year
earnings.
Along with Antofagasta's results, a drop in copper prices
from a more than one-year high also hit miners, with Glencore
GLEN.L , BHP BHPB.L and Rio Tinto RIO.L falling between 2%
and 4%. MET/L
Losses in the midcap index were limited by gains in Mike
Ashley's Frasers Group FRAS.L along with a number of real
estate stocks.
Frasers jumped 13% after it forecast growth of up to 30% in
its new financial year, while electricals maker AO World AO.L
added more than 3% as it said demand for its products and
services continued even after its rivals reopened stores in
July. Infrastructure group John Laing JLG.L plummeted 7%,
marking its worst day since early-July after reporting a
half-year loss and saying it was unlikely to meet its 1 billion
pound investment target by the end of 2021. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
FTSE 100, S&P 500 and STOXX 600 https://tmsnrt.rs/2Yim7GZ
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.