FTSE 100 remains stable as attention shifts to US corporate sector

The FTSE 100 commenced trading on Friday with little change, mirroring the substantial gains witnessed in the preceding two sessions. Market participants have now shifted their attention to assess the well-being of the US corporate sector.

At the open, the FTSE 100 index edged up by a nominal 2.35 points, reaching 7,442.56. Conversely, the FTSE 250 experienced a modest decline of 0.3%, as it dropped by 57.49 points to settle at 18,574.22. Similarly, the AIM All-Share index showed a marginal uptick, closing at 750.40 with a 0.1-point increase.

Later today several notable financial institutions are scheduled to release their half-year earnings, including asset manager BlackRock and banking firms Citigroup, JPMorgan Chase & Co, and Wells Fargo.

On the FTSE 100, Burberry faced a decline in its stock price, despite delivering a relatively positive trading update and reaffirming its annual guidance.

Conversely, AstraZeneca saw a 1.1% rise in its stock as HSBC upgraded its rating to “buy.”

In the FTSE 250, Ashmore’s share price declined by 6.4%, while Liontrust saw a decrease of 4.2%. Both asset management companies reported outflows.

Over on the AIM market, Zoo Digital suffered a significant plunge of 31%. The company attributed the decline to cost-saving measures implemented by its major streaming company clients, as well as the ongoing strike at the Writers Guild of America, impacting its first-quarter trading.