FTSE 100 Little Changed Amid Profit Warnings

(RTTNews.com) - U.K. shares were little changed on Friday as oil and retail stocks came under selling pressure, offsetting gains in the mining sector following stronger-than-expected GDP data from top metals consumer China.

The benchmark FTSE 100 was marginally higher at 7,707 in opening deals after losing 0.3 percent in the previous session.

Retail stocks struggled after data showed U.K. retail sales fell by 1.5 percent in December from the previous month, missing analysts' expectations for a 0.6 percent drop.

Tullow Oil dropped 1.5 percent, BP Plc declined 0.8 percent and Royal Dutch Shell eased half a percent after oil prices fell over 1 percent on data showing an uptick in U.S. production.

HSBC Holdings declined half a percent. The financial services company has agreed to pay more than $100 million to settle a criminal probe into currency rigging.

Crematorium operator Dignity slumped 49 percent and floor coverings retailer Carpetright plummeted 42 percent after warning on profits.

AstraZeneca advanced 0.7 percent on receiving regulatory approval in Japan for a drug used to treat advanced ovarian cancer.

Mining giant BHP Billiton gained 1.2 percent, Rio Tinto Plc added 1 percent and Glencore rose half a percent after data showed China's economy grew faster than expected in the fourth quarter of 2017.

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Source : http://www.nasdaq.com/article/ftse-100-little-changed-amid-profit-warnings-20180119-00102

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