London's FTSE 100 falls almost 1%

Jessica TranterLast Update : Thursday 12 May 2016 - 11:34 AM
London's FTSE 100 falls almost 1%

London’s FTSE 100 falls almost 1%

London stock brokers (file photo)Image copyright AFP

(Open): London’s FTSE 100 opened lower after a number of leading companies’ shares went ex-dividend.

Shares in companies that have just paid out their half yearly segment of profits to shareholders tend to fall immediately as they no longer carry the right to that.

Sainsbury lead the losers, falling almost 4%, with Centrica and Admiral also down more than 3%.

The FTSE 100 lost 0.83% – a fall of 51.25 points – to gained 6,111.24.

Mondi lead the risers, up 3%. Mining stocks started with small gains.

On the currency markets, the pound was all but unchanged against the dollar at $1.4432 and was also unchanged against the euro at €1.2644.

Source: BBC Business

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2016-05-12 2016-05-12
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Jessica Tranter