Proactive Investors -
- FTSE 100 falls after steady start, down 22 points
- Persimmon green shoots lift housebuilders
- StanChart results top expectations, but banks weaken on US nerves
Mix of FTSE fallers
Leading the fallers is Primark owner Associated British Foods PLC (LON:ABF) after its update yesterday, down 5.1% as more analyst opinions are added to the hivemind's thoughts.
Fellow retailer JD Sports Fashion (LON:JD) is also among the big fallers.
A couple with news out today are also among the bottom bunch: CRH PLC (LON:CRH) down 3.9% and Reckitt Benckiser Group PLC (LON:RKT) down 2%.
While CRH sales and earnings were ahead, maybe UK investors were disappointed by it confirming that it is seeking approval for a US listing.
The market also does not seem that impressed with the new Reckitt boss, promoted from within, or that first-quarter results showing sales volumes are down as prices were hiked over 12%.
Overall the index is down 26 points or 0.33% at 7,865.26.
London losses pared
London's blue-chip index is battling back, paring losses as bank shares reverse earlier falls and joining the builders in the green.
The FTSE 100 is down 22 points now, or 0.28%, better than the 0.60% decline for Germany's DAX and 0.67% for the CAC 40 in Paris.
As well as the banks, the index's drug giants are both in the red, but oil heavyweights are positive.
More summaries of the market situation are poring in.
London and the other big European indices are managing "to avoid the big losses seen in the US overnight", helped by strong results from big tech after Wall Street had packed up and gone home for the day, says Russ Mould, AJ Bell's investment director.
"Microsoft and Alphabet, two firms whose fates feel increasingly intertwined thanks to their competing AI search offerings, both demonstrated some resilience as their earnings came in ahead of forecasts," he said.
But an update from First Republic Bank (NYSE:FRC) has "undoubtedly reopened the sores from March, as investors fret about the financial system again," Mould added, with numbers from regional US lenders under heavy scrutiny in coming days and weeks.