ANL 31.35 Decreased By ▼ -0.20 (-0.63%)
ASC 20.90 Increased By ▲ 0.10 (0.48%)
ASL 23.90 Decreased By ▼ -0.10 (-0.42%)
BOP 8.41 Increased By ▲ 0.24 (2.94%)
BYCO 10.04 Decreased By ▼ -0.20 (-1.95%)
FCCL 22.20 Decreased By ▼ -0.40 (-1.77%)
FFBL 27.44 Increased By ▲ 0.24 (0.88%)
FFL 20.79 Decreased By ▼ -0.41 (-1.93%)
FNEL 8.85 Decreased By ▼ -0.33 (-3.59%)
GGGL 27.45 Decreased By ▼ -0.58 (-2.07%)
GGL 47.10 Increased By ▲ 0.35 (0.75%)
HUMNL 7.40 Decreased By ▼ -0.15 (-1.99%)
JSCL 22.50 Decreased By ▼ -0.43 (-1.88%)
KAPCO 39.80 Decreased By ▼ -0.30 (-0.75%)
KEL 3.92 Decreased By ▼ -0.02 (-0.51%)
MDTL 3.73 Decreased By ▼ -0.08 (-2.1%)
MLCF 44.27 Decreased By ▼ -0.83 (-1.84%)
NETSOL 165.95 Decreased By ▼ -1.40 (-0.84%)
PACE 7.67 Decreased By ▼ -0.36 (-4.48%)
PAEL 34.01 Decreased By ▼ -0.86 (-2.47%)
PIBTL 11.25 Decreased By ▼ -0.10 (-0.88%)
POWER 9.20 Decreased By ▼ -0.15 (-1.6%)
PRL 23.80 Decreased By ▼ -0.33 (-1.37%)
PTC 11.73 Decreased By ▼ -0.02 (-0.17%)
SILK 1.82 Decreased By ▼ -0.01 (-0.55%)
SNGP 49.60 Decreased By ▼ -1.58 (-3.09%)
TELE 15.06 Decreased By ▼ -0.51 (-3.28%)
TRG 166.20 Decreased By ▼ -1.86 (-1.11%)
UNITY 42.97 Decreased By ▼ -0.87 (-1.98%)
WTL 3.74 Decreased By ▼ -0.08 (-2.09%)
BR100 5,167 Decreased By ▼ -9.46 (-0.18%)
BR30 26,489 Decreased By ▼ -221.93 (-0.83%)
KSE100 47,687 Increased By ▲ 14.31 (0.03%)
KSE30 19,130 Increased By ▲ 22.74 (0.12%)

Coronavirus
VERY HIGH Source: covid.gov.pk
Pakistan Deaths
23,133
4424hr
Pakistan Cases
1,015,827
4,11924hr
7.88% positivity
Sindh
371,762
Punjab
354,312
Balochistan
29,861
Islamabad
86,226
KPK
142,400
Markets

FTSE 100 dragged down by Unilever, positive earnings push mid-caps

  • Unilever top FTSE 100 loser, cuts margin guidance
  • FirstGroup jumps on increase in shareholder returns
  • FTSE 100 down 0.4%, FTSE 250 adds 0.6%
22 Jul 2021

London's FTSE 100 ended lower on Thursday, weighed down by weakness in Unilever shares after it cut its full-year margin forecasts coupled with a fall in energy stocks, while the mid-cap index rose on a set of positive corporate results.

The blue-chip FTSE 100 index dropped 0.4% with Unilever being the main drag, while energy stocks fell 1.6%, despite a jump in oil prices.

Unilever Plc was down 5.9% after it warned that surging commodity costs would squeeze its full-year operating margin, overshadowing strong second-quarter sales growth.

"Markets appear to be caught in a pincer movement between concerns over rising inflation, and slowing growth ... this is no better reflected in the latest numbers from Unilever," said Michael Hewson, chief market analyst at CMC Markets.

However, commentary from Bank of England's deputy governor Ben Broadbent helped calm some of the inflation fears after he said the current spike in prices is unlikely to create longer-term inflation pressures.

FTSE 100 lower

The domestically focussed mid-cap index rose for the third straight session to end 0.6% higher, helped by upbeat quarterly results from Howden Joinery Group and IG Group.

The blue-chip FTSE 100 index has gained 7.9% so far this year, helped by government stimulus and re-opening optimism, but is nearly 11% away from its all-time high. It is still underperforming the mid-cap index, which is just 1.2% away from its record high.

British retailers and manufacturers have grown optimistic on growth prospects as the economy bounces back from the pandemic lockdowns, research showed, with UK manufacturers' expectations for growth in output over the next three months being strongest on record.

Among stocks, transport firm FirstGroup jumped 3.1% after it increased its planned shareholder returns by 135 million pounds ($185.29 million).

Workspace Group Plc gained 1.7% after it said it expected strong signs of businesses in London returning to work with easing of pandemic-related restrictions.