MRW7 May 2015 13:15
FTSE flops as voters queue and Morrisons dives
StockMarketWire.com
FTSE indices flopped lower in a session that has so far confounded expectations for a quiet day as the UK general election unfolds. Morrisons (MRW) was punished lower, with sectors notably lower being financials, mining and oil. Both US and Asian markets were softer overnight.
Shortly after the open, FTSE 100 was down 51.59 points, or 0.74%, to 6882.15, while FTSE 250 was down 84.21, or 0.48%, to 17,327.9. At 8.42am, WTI and Brent crude prices were up less than 0.1%. UK polling booths are open today for the hotly contested election. Greece debt and Yemen fighting simmer away as distractions.
Morrisons (MRW) dived 6.76% to 176.5p as Q1 like-for-like sales, excluding fuel, fell 2.9% in the three months to May 3. It sees underlying pretax profit higher in H2 than H1. A full assessment of the business was underway. Sector pals were off, too, but less markedly. Several other retail-sector players were lower, as were a number of property outfits.