As heavyweights AstraZeneca, GlaxoSmithKline, Shell, and BP all go ex-dividend

<p>As heavyweights AstraZeneca, GlaxoSmithKline, Shell, and BP all go ex-dividend, taking 25.41 points off the index, the FTSE 100 snaps its winning streak to currently […]</p>

The video cannot be shown at the moment. Please try again later.

  • As heavyweights AstraZeneca, GlaxoSmithKline, Shell, and BP all go ex-dividend, taking 25.41 points off the index, the FTSE 100 snaps its winning streak to currently lie five points lower at 5807, having previously been considerably below the 5800 level.
  • Across Europe we see indexes generally lower, with the German DAX down a quarter per cent and the French CAC down around half per cent.
  • With ex-dividend stocks at the top of the biggest fallers this morning, we also see Smiths Group down 2.7% as the technicals make the stock overbought.
  • On a more positive note we see Standard Chartered recovering some of yesterday’s losses, up around 6%, having fallen 22% since the allegations and the fear of having their US banking licence revoked.
  • Later we have UK inflation figures and Mervyn King is speaking so we are likely to see some movement around 9.30am this morning.
  • With no major macro data out from the US, attention will be on the Olympics and Britain’s chance for another gold in the show jumping.

See the City Index Economic Calendar and Companies Reporting Dates page for latest economic news and company events that are likely to impact the markets today.

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.