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Dividends weigh on FTSE after late start

FTSE 100 falls into the red, weighed down by stocks trading without entitlement to their next dividend.

 
Dividends weigh on FTSE after late start

The FTSE 100 has fallen into the red after a late start to trading due to technical issues.

With trading kicking off an hour later than the normal 8am start, the UK blue-chip index edged six points lower to 7,706 points, as shares trading without entitlement to their next dividend weighed on the index.

Vodafone (VOD) fell 3.7% to 189.4p and Sainsbury's (SBRY) were down 3.7% at 189.4p and 2.9% lower at 303.9p respectively as both stocks went 'ex-dividend'.

But the big movers were to be found outside the FTSE 100. Among 'mid-cap' stocks, Auto Trader (AUOTA) jumped 8.3% to 383.7p after a strong earnings update.

Capita (CPI) was close behind, rising 6% to 148p after an upgrade from analysts at Citigroup.

Kier (KIE) fell to the bottom of the index, down 6.4% at £10.12 as analysts at Barclays slapped an 'underweight' rating on the shares.

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Peter Clery

Jun 07, 2018 at 12:50

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