FTSE 100 edged up on Tuesday by 0.37%, sitting at 6,744.03. Today’s steady rise followed an attack on a facility in Saudi Arabia which propped up the index yesterday.
“The FTSE 100 made a steady but unspectacular start to trading on Tuesday – likely a relief to investors who have seen some big gains and substantial losses in recent days as levels of panic over rising inflation have ebbed and flowed,” says AJ Bell investment director Russ Mould.
“Monday’s significant rally suggested that noises from central bankers aimed at calming fears about spiralling bond yields and rising prices had succeeded in giving investors the comfort blanket they needed to start buying again.”
FTSE 100 Top Movers
M&G (5.14%), Kingfisher (4.03%) and JD Sports (3.37%) are the day’s top risers on the index so far.
At the bottom of the FTSE 100 during morning trading is Pearson (-4.77%) along with mining companies BHP Group (-2.11%) and Rio Tinto (-1.65%).
M&G
M&G the UK insurance company and asset manager, confirmed a 31% fall in its operating profit to £788m. The results, which came on Tuesday, were M&G’s first since becoming a stand alone company and were ahead of expectations.
Having split from Prudential in 2019, the FTSE 100 firm said the results were a reflection of its first full year as a listed company, including head office and debt interest costs. The company confirmed a dividend of 12.23p per share, in line with its policy of a stable or increasing dividend.
Standard Life Aberdeen
Standard Life Aberdeen has cut its dividend by a third following a dip in profits last year, while its chief executive has promised a return to growth. Standard Life Aberdeen confirmed a profit before tax of £487m for 2020, down 16.6% on the year before, while its fee-based revenue fell by £0.2bn to £1.4bn.
The FTSE 100 company reduced its full-year dividend by one third to 14.6p per share, a move that was in line with analysts’ expectations.
