LONDON MARKETS: Attention Returns To Brexit Turmoil, Causing London Stocks To Hover In The Red

Date : 12/13/2018 @ 1:42PM
Source : Dow Jones News
Stock : FTSE 100 (UKX)
Quote : 7338.55  9.63 (0.13%) @ 12:52PM
FTSE 100 share price Chart

LONDON MARKETS: Attention Returns To Brexit Turmoil, Causing London Stocks To Hover In The Red

Bunzl (PC) (USOTC:BZLFY)
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By Emily Horton

London markets hovered in the red, as attention returned to Brexit turmoil after U.K. Prime Minister Theresa May narrowly fought off a leadership challenge.

What did markets do?

The U.K.'s FTSE 100 was flat at 6,876.68, after finishing up 1% on Wednesday in New York.

The British pound was up $1.2679, up from $1.2628 on Wednesday evening in New York.

What is driving the markets?

British Prime Minister Theresa May survived her leadership challenge (http://www.marketwatch.com/story/uk-prime-minister-theresa-may-survives-confidence-vote-amid-brexit-chaos-2018-12-12), late on Wednesday evening, successfully suppressing a damaging rebellion led by a group of anti-EU Conservative MPs. She will now return to fighting for the Brexit withdrawal deal that has divided UK politics in recent weeks, and was at an EU meeting in Brussels Thursday.

What stocks are active?

London-listed German travel giant TUI AG was up over 6% after reporting its fiscal 2018 net profit rose by 14% (http://www.marketwatch.com/story/tui-net-profit-up-14-upbeat-on-winter-period-2018-12-13).

Bunzl PLC (BZLFY) was up by under 2%, after the distribution and outsourcing group said it would deliver revenue growth for 2018 (http://www.marketwatch.com/story/bunzl-sees-revenue-growth-despite-forex-hit-2018-12-13).

Supermarket Ocado Group PLC (OCDO.LN) jumped by more than 2% after the company announced a rise in fourth-quarter retail revenue (http://www.marketwatch.com/story/ocado-group-revenue-up-12-2018-12-13).

In heavy-weight oil stocks, BP PLC (BP.LN) was down by 1.5% and Tullow Oil PLC (TLW.LN) fell by just under 3%.

 

(END) Dow Jones Newswires

December 13, 2018 08:27 ET (13:27 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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