Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

FTSE steadies as US boost offsets ex-divi drops

FTSE steadies as US boost offsets ex-divi drops

The FTSE 100 steadied near a three-week high, as stocks going ex-dividend countered a rise in mining shares after positive economic news from the US.

The FTSE edged up seven points at 6,659, helped by US data showing economic growth was gaining traction following a harsh winter. The US Institute for Supply Management said its index of national factory activity rose to 53.7 in March, a second consecutive monthly rise.

Miners advanced with Fresnillo (FRES.L) 22.5p, or 2.7%, higher at 868.5p. Antofagasta (ANTO.L) traded 14p, or 1.7%, up at 853.5p, while BHP Billiton (BLT.L) rose 27p, or 1.4% to £19.07 and Randgold (RRS.L) gained 63p, or 1.4%, at £45.77.

Sports Direct (SPD.L) built on yesterday's 40p gain after analysts at Liberum raised their target price for the stock and identified potential overseas acquisitions to boost is European presence. The sports retailer added 24.5p, or 2.7%, at 917p.

Insurer Resolution (RSL.L) traded ex-dividend and led the fallers, dropping 10.5p, or 3.5% to 293.2p, as has publisher Pearson (PSON.L), down 29p, or 2.8% to £10.15.

Other stocks trading ex-dividend were:

  • Aviva (AV.L), down 3.6p, or 0.7% at 488.5p
  • Tullow Oil (TLW.L), down 2.5p, or 0.3%, at 750p
  • Wolseley (WOS.L), down a penny at £34.30
  • Next (NXT.L), up 55p, or 0.8%, at £66.84

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Boutique tapes: my business will never be sold

Boutique tapes: my business will never be sold

In the final part of our four part series we discuss consolidation and whether it's getting tougher for boutiques to survive.

Play Boutique tapes: are top managers better off at small firms?

Boutique tapes: are top managers better off at small firms?

In episode three of our series, boutique bosses discuss whether the best fund managers are more likely to thrive at smaller firms.

Play Boutique tapes: if you want a Ferrari, you have to pay for it

Boutique tapes: if you want a Ferrari, you have to pay for it

In the second part of our four-part series, boutique bosses are asked how they can justify the fees charged by active managers.

Read More
Your Business: Cover Star Club

Profile: how this boutique beat the big guns of wealth

Profile: how this boutique beat the big guns of wealth

This small west country offshoot of a local IFA scooped a 2018 Citywire award from beneath the noses of the national challengers

Wealth Manager on Twitter