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The UK benchmark index has slipped marginally lower in today’s session, with investors awaiting the outcome of the Federal Reserve’s meeting in the US. Dixons Carphone (LON:DC) meanwhile has tumbled to the bottom of the blue-chip leaderboard after updating investors on its interim performance.
As of 12:33 GMT, the Footsie had lost 8.60 points to stand 0.12 percent lower at 6,959.97. Sentiment has been subdued amid expectations that the Fed will raise interest rates when it announces its policy decision later today.
“While the decision has been almost completely priced in by markets, there could still be some additional dollar gains, depending on the tone of any forward guidance given,” Caxton FX analyst Alexandra Russell-Oliver commented, as quoted by the Guardian, adding that the expected increase is “by 25 basis points to a target range of 0.50 percent to 0.75 percent”.
In individual movers, Dixons Carphone’s share price has fallen 6.33 percent to 343.50p after posting its results for the 26 weeks ended October 29.
“The uncertainty is weighing, but also the fact that the pound has weakened significantly […] is clearly increasing the costs of the company,” Ipek Ozkardeskaya, senior market analyst at London Capital Group, told Reuters, adding that the share price reaction was nevertheless an overreaction.
“Micro Focus has outperformed on nearly all levels in the first half, giving a net nine percent EPS [earnings per share] beat and three percent full year upgrade,” analysts at Numis noted, as quoted by the Guardian. Micro Focus’ share price is 5.68 percent better off at 2,251.00p.
The FTSE 100 0.06 percent lower at 6,964.26 points as of 12:44 GMT on Wednesday, December 14, 2016.
