Morning Markets: FTSE dips despite positive earnings news

clock

The FTSE 100 opened lower in early trading, falling 0.24% or 13.76 points to 5740.09, despite a raft of positive earnings announcements.

Lloyds Banking Group said it had returned to profitability in the first quarter and expects this momentum to be sustained throughout the rest of the year. The news drove its shares up 2.16% to 71.76p. Prudential also rose 2.38% to 559p, after news its biggest shareholder wants to break up the insurer. Meanwhile, Imperial Tobacco increased 1.59% to £19.78, as revenue in the six months to March jumped by 8% to £13.4bn. Elsewhere, miners led market fallers. Kazakhmys dropped 2.43% to £14.44, while Rio Tinto declined 2.12% to £37.23 and Vedanta Resources slipped 2.04% to £27.38. O...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Five key takeaways from the Spring Statement 2025

Five key takeaways from the Spring Statement 2025

OBR growth, ISA reforms and defence

Sorin Dojan
clock 27 March 2025 • 4 min read
Bank of England halts interest rate cuts amid ongoing inflation

Bank of England halts interest rate cuts amid ongoing inflation

As priced in by markets

Sorin Dojan
clock 20 March 2025 • 2 min read
More work needed to tackle inflation as BoE members warn of further market turmoil

More work needed to tackle inflation as BoE members warn of further market turmoil

BoE MPC members spoke at Treasury Committee hearing

Sorin Dojan
clock 06 March 2025 • 2 min read