London's FTSE 100 made a steady start as the excitement of Trump’s win yesterday switched to interest rate announcements today in the UK and the US.
The Footsie was up 9 at 8,175 early with the Bank of England expected to cut rates while attention in the States will be on the Fed’s forward thinking with a new President at the helm.
BT was the worst of the fallers in early trades as revenue dropped over the first half of the year, prompting a cut in profit and lowered guidance. Sales dipped by 3% year on year due to “our non-UK operations and a competitive retail environment,” the telco said on Thursday.
Rolls-Royce was also lower though the aeroengine maker reiterated guidance for the year at operating profit of £2.1 billion to £2.3 billion in spite of ongoing supply chain issues.
Sainsbury’s was flat despite profits rising almost 5%. A strong performance by its grocery business offset a tough first quarter at Argos.
But ITV tumbled 6% as it warned advertising had slowed and it was cutting more costs.