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The UK benchmark index has slipped marginally lower in today’s session, with investors staying on the sidelines ahead of the inauguration of US president-elect Donald Trump later during the day. In individual stock news, Premier Inn and Costa Coffee owner Whitbread (LON:WTB) is outperforming the FTSE 100 following an upgrade at Barclays.
As of 12:13 GMT, the Footsie had shed 6.83 points to stand 0.09 percent lower at 7,201.61. Sentiment has been subdued today, with investors awaiting Trump’s inauguration, expected to start shortly after the London market closes.
“Trump’s aggressive fiscal stimulus plans have been priced in by the markets to an extent where investors could now sit back and watch how fast his promises will be concretised,” London Capital Group analyst Ipek Ozkardeskaya told Reuters.
Whitbread’s share price meanwhile has gained 1.50 percent to 4,132.00p, after Barclays lifted its stance on the Costa Coffee and Premier Inn owner from ‘underweight’ to ‘equal weight’, and hiked its valuation on the stock from 3,340p to 4,150p. Sharecast quoted the analysts as saying that they expected the company to report a ‘good’ third quarter and an ‘excellent’ fourth quarter trading statement on January 26 on the back of strong data in London and the UK.
In other notable movers, Royal Mail Group (LON:RMG) has extended yesterday’s losses, with investors continuing to digest the postal operator’s flat revenue for the first nine months of its financial year. The company’s shares are currently changing hands 3.03 percent in the red at 409.70p.
The FTSE 100 index was 0.04 percent down at 7,205.75 points as of 12:26 GMT on Friday, 20 January 2017.
