London stocks were still a little weaker by midday on Thursday, with ex-dividends a drag, as investors eyed the start of the Jackson Hole symposium and the release of US jobless claims and GDP data.
The FTSE 100 was down 0.4% at 7,121.30.
AJ Bell financial analyst Danni Hewson said: “It’s the one they’ve all been waiting for. The Super Bowl of high finance – the Jackson Hole symposium – kicks off tomorrow and there’s no question who the star man is.
“The spotlight will be on the chair of the US Federal Reserve Jerome Powell and whether he says anything on the tapering of financial support for the economy.
“The incentive for keeping things low key is that the Delta variant has made the global economic recovery more fragile and it may be the digital-only event turns into something of a non-event.
“The FTSE 100 was portraying some signs of nerves ahead of the event as it dipped modestly in early trading on Thursday.”
In equity markets, ex-dividend stocks weighed on markets, with Aviva, Diageo, Mondi, St James’s Place, Land Securities, Plus500 and Drax all in the frame.
Going the other way, building materials supplier CRH gained after it lifted its dividend as interim core earnings rose by a quarter and the company said it expected second half profits to be ahead of a record prior year. Earnings for the six months to June 30 came in at $2bn, up 25% on a better-than-expected 15% increase in sales to $14bn. The dividend rose 4.5% to 23 cents a share.
Hays rallied after the recruiter said it was resuming dividend payments as it hailed a “strong” recovery in fee and profit growth in its full-year results.
Private hospital group Mediclinic was boosted by an upgrade to ‘buy’ from ‘hold’ at HSBC.
Market Movers
FTSE 100 (UKX) 7,121.30 -0.40%
FTSE 250 (MCX) 23,976.89 -0.04%
techMARK (TASX) 4,830.53 -0.05%
FTSE 100 – Risers
CRH (CDI) (CRH) 3,828.00p 1.46%
Ocado Group (OCDO) 2,075.00p 1.27%
Taylor Wimpey (TW.) 182.10p 0.97%
Persimmon (PSN) 2,894.00p 0.91%
NATWEST GROUP PLC ORD 100P (NWG) 217.70p 0.88%
AstraZeneca (AZN) 8,625.00p 0.84%
Barratt Developments (BDEV) 736.00p 0.68%
Admiral Group (ADM) 3,672.00p 0.63%
Royal Mail (RMG) 493.00p 0.57%
ITV (ITV) 117.05p 0.52%
FTSE 100 – Fallers
Melrose Industries (MRO) 166.05p -3.26%
Antofagasta (ANTO) 1,421.00p -3.17%
Polymetal International (POLY) 1,482.50p -2.69%
Mondi (MNDI) 1,988.00p -2.60%
Rio Tinto (RIO) 5,319.00p -1.90%
International Consolidated Airlines Group SA (CDI) (IAG) 160.62p -1.71%
Smith (DS) (SMDS) 434.00p -1.65%
Aviva (AV.) 414.70p -1.47%
Anglo American (AAL) 2,990.50p -1.47%
BHP Group (BHP) 2,234.50p -1.41%
FTSE 250 – Risers
Mediclinic International (MDC) 306.40p 2.75%
Liontrust Asset Management (LIO) 2,355.00p 2.39%
Frasers Group (FRAS) 664.50p 2.23%
Network International Holdings (NETW) 378.50p 2.02%
Tyman (TYMN) 405.00p 2.02%
Auction Technology Group (ATG) 1,580.00p 1.94%
Grafton Group Ut (CDI) (GFTU) 1,384.00p 1.84%
Reach (RCH) 419.50p 1.82%
Clarkson (CKN) 3,690.00p 1.65%
Morgan Sindall Group (MGNS) 2,550.00p 1.39%
FTSE 250 – Fallers
Syncona Limited NPV (SYNC) 205.00p -2.84%
Apax Global Alpha Limited (APAX) 210.50p -2.77%
Wizz Air Holdings (WIZZ) 5,044.00p -2.55%
TUI AG Reg Shs (DI) (TUI) 320.60p -2.49%
Hill & Smith Holdings (HILS) 1,836.00p -2.03%
National Express Group (NEX) 261.60p -1.95%
Petropavlovsk (POG) 19.87p -1.92%
Avon Protection (AVON) 1,848.00p -1.75%
HGCapital Trust (HGT) 399.00p -1.72%
FirstGroup (FGP) 89.65p -1.65%
