FTSE 100 little changed as several stocks trade ex-dividend; industrials rise

Madiha Shakeel September 5, 2019

London’s FTSE 100 was roughly flat on Thursday, as gains in large industrial stocks after upbeat forecasts from European peers and encouraging news on U.S.-China trade talks offset a drop in several stocks trading ex-dividend.

A drop in stocks trading without dividend entitlement such as BHP and Glencore counteracted a results-driven 5.2% jump in turnaround specialist Melrose , and left the FTSE 100 struggling for clear direction in early dealings.

Industrial giants such as BAE Systems and Rolls-Royce advanced after French engine maker Safran  raised its annual profit forecast and Rafale warplanes maker Dassault Aviation affirmed its view of higher net sales in 2019.

The FTSE 250 slipped 0.1% lower by 07159 GMT, partly due to a more than 20% slump in CYBG after the Yorkshire Bank and Virgin Money owner said it expected to increase its provision for legacy payment protection insurance costs.

Copyright Reuters, 2019

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