FTSE 100 slips as Relx weighs; WPP, Persimmon gain after results
Market Overview and Key Movers
Aug 6 (Reuters) - The UK's FTSE 100 ended lower on Thursday, tracking losses on Wall Street, as investors weighed a fresh batch of corporate earnings including upbeat reports from housebuilder Persimmon and advertising group WPP.
The blue-chip FTSE 100 index dipped 0.2% to end the session at 10,867.89 points. The midcap FTSE 250 climbed 0.2% to 24,695.41 points, rising for the fourth consecutive day.
Major Drags on the FTSE 100
Relx and Software Sector Performance
• Information and analytics group Relx was among the biggest drags on the FTSE 100, falling 4.1% as software stocks retreated after AppLovin's revenue miss and Datadog's warning on revenue growth. Relx was also trading ex-dividend.
Top Gainers and Positive Earnings Reports
Persimmon and Admiral Results
• Persimmon climbed 2.9% after the housebuilder forecast annual home deliveries at the top end of its range, while insurer Admiral jumped 5.4% after its first-half results and share buyback announcement.
WPP's Significant Surge
• Among the midcap stocks, WPP soared 28.6%, on track for its biggest single-day percentage gain in more than three decades, after the ad firm said the trajectory had improved in recent months, even as it reported a 4.7% drop in first-half adjusted revenue.
Market Sentiment and Economic Data
Investor Focus on U.S. Jobs Data
• Investors are awaiting U.S. non-farm payrolls data on Friday for clues on the health of the labour market and interest rate trajectory.
Construction Industry Outlook
Survey Insights and Builder Optimism
• The downturn in Britain's construction industry eased in July as commercial building and housebuilding weakened less sharply, with builder optimism hitting its highest level since before the Iran war, a survey by S&P Global showed.
Other Notable Movers
Tritax Big Box REIT Decline
• Among other movers, real estate investment trust Tritax Big Box REIT dropped 4.1%, becoming the top decliner in the FTSE 100, after it placed a £350 million share sale at £1.64 a share.
(Reporting by Anand Gopal and Sruthi Shankar in Bengaluru; Editing by Vijay Kishore and Andrew Heavens)
