Latest News

UK News

Click Here to read UK News

Forex News

Click Here to read Forex News

Market News

Click Here to read Market News

Irish News
/fxcentre/i-want-to/read-news
UPDATE 2-Ex-dividend trading trips FTSE 100; National Express tumbles
Published at 13/08/2020 at 17:08

(For a live blog on European stocks, type LIVE/ in an Eikon news window)

* AstraZeneca, BP, Shell trade ex-dividend

* Both benchmark indexes snap four-day gaining streak

* National Express slides on first-half pre-tax loss

* Just Group, Watches of Switzerland jump on upbeat forecasts

* FTSE 100 down 1.5%, FTSE 250 off 0.9%

(Updates to close)

By Sagarika Jaisinghani and Susan Mathew

Aug 13 (Reuters) - The FTSE 100 fell for the first time in five sessions on Thursday as a clutch of blue-chip firms traded ex-dividend, while National Express Group slumped after reporting a pre-tax loss for the first half of the year.

A 1.5% decline for the blue-chip index saw it lead losses among European peers and pull back from three-week highs as firms including AstraZeneca , BP , Royal Dutch Shell and Legal & General Group traded without entitlement to a dividend payout.

"A combination of some big stocks trading without the rights to their dividend and a bit of profit taking after a strong run for equities so far in August saw the FTSE 100 on the back foot," said AJ Bell investment director Russ Mould.

The FTSE 100 is up about 5% so far this month, which if gains hold, will be its best month since April. But the index lags its U.S. and European peers as data points to a much bigger hit to the UK economy from the health crisis.

Although key sectors such as housing have begun to show signs of a rebound, analysts have warned that the mini-boom could go bust once the government's jobs subsidy programme closes in less than three months' time and a tax cut expires at the end of March.

Global sentiment also remained unexciting as a deadlock over a U.S. stimulus weighed.

In earnings, bus company National Express tumbled 16.2% and posted its worst day since March as it warned of more pressure on its finances over the next year.

London's mid-cap FTSE 250 was off 0.9%, retreating from a two-month high.

Tourism company TUI fell after it said it was considering divestments or raising new equity to reduce debt taken on to survive the coronavirus pandemic.

Insurer Just Group and Watches of Switzerland

both jumped on upbeat forecasts, while engineering company Renishaw slid on scrapping its dividend.

(Reporting by Sagarika Jaisinghani in Bengaluru; Editing by Subhranshu Sahu and Elaine Hardcastle)

((Sagarika.Jaisinghani@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2256;))

(( For related prices, Reuters users may click on - *

UK stock report

FTSE index:

techMARK 100 index: FTSE futures:

Gilt futures: Smallcap index:

FTSE 250 index: FTSE 350 index:

Market digest: Top 10 by vol:

Top price gainers: Top % gainers:

Top price losers: Top % losers:

* For related news, click on - *

UK hot stocks: and Wall Street:

Gilts report: Euro bond report

Pan European stock report:

Tokyo stocks: HK stocks:

Sterling report: Dollar report:

* For company prices, click on - *

Company directory: By sector:

* For pan-European market data, click on - *

European Equities speed guide................

FTSE Eurotop 300 index...........................

DJ STOXX index...................................

Top 10 STOXX sectors........................

Top 10 EUROSTOXX sectors...................

Top 10 Eurotop 300 sectors..................

Top 25 European pct gainers....................

Top 25 European pct losers..................... ))