FTSE 100 index still volatile as days two of the European Council summit in Brussels looms – but Coca-Cola’s share price fizzes
The FTSE 100 index opened with volatility this morning after having fallen below 6,000 mark yesterday as investors continued to look to Brussels
The UK's blue chip index was trading 0.09 per cent down at 5,970 points in the early morning, having risen to 5,987 points as the market opened.
"Having stalled on Thursday after large gains the previous four days in the context of what has been a very weak market, investors in the FTSE 100 are naturally a little nervous that we’re on the cusp of another panicked sell-off," said Jasper Lawer, markets analyst at CMC Markets.
A pullback from current levels in UK stocks is a distinct possibility; especially with considerable uncertainty surrounding Prime Minister David Cameron’s apparent efforts to defend the interests of Canada during Brexit negotiations, he added.
Coca-Cola was the biggest riser, jumping 5.17 per cent to 1,445p per share. It had previously reported a 13 per cent dip in profits. However, it said its established markets grew for the first time in five years.
After dropping yesterday, miners managed to recoup some of their losses. Anglo American rose 1.63 per cent to 439.5p per share. Rio Tinto jumped 1.06 per cent to 1,907.5p per share.
Shell's share price also rose 0.41 per cent to 1,593.5p, after it fell yesterday despite oil prices rising. BP also rose 0.81 per cent to 348.2p per share. The price of oil came under pressure yesterday as data showed US crude inventories rose by 2.1m barrels last week.
But supermarkets fell. Tesco's share price dropped 0.83 per cent to 185.2p, while Sainsbury's share price fell 1.18 per cent to 260p. Yesterday Asda reported sales to have fallen again.