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FTSE 100 holds 5400 PDF Print E-mail
Written by Will Peters   
Friday, 06 August 2010 09:15



Where to for the FTSE 100 and JSE? Insight for those spread trading major indices today - a look at the results from RBS and Logica.


The FTSE 100 is 0.48% higher at 5,391.80 at 9:44 AM.

Simon Denham at spread trading providers Capital Spreads says, "The FTSE 100 seems reluctant to give up the 5400 level which is encouraging for the bulls. So far this week the two rejections of the level have been met with buying and a swift reversal back to the highs.

"Investors will certainly wait until lunchtime before exposing themselves more to equities, so we can expect sideway action before then."

SVS Secutrities had called the FTSE 100 higher, and as is the case with Capital Spreads, suggest investors are likely to stay on the sidelines until the release of the US non-farm payrolls data at 1.30pm.

Before this news, attention will be on the domestic front as the market digests further corporate statements and UK producer prices and manufacturing production data.

Today's Company announcements


RBS interim Results saw pre-items, PBT of £1.14bn and a net profit of £9m as bad debt charges fell. Total income came in at £15.93bn and it said that its non-core run off programme remains on track. It added that it remains cautious over the near term but expects to meet its targets that it has set for the next 3 years.

RBS shares are 2.21% higher.

Logica Interim Results sees adjusted operating profits and revenues slightly lower at £125m and £1.8bn respectively, which were in line with expectations. Orders rose 2% to £2.1bn with continued strength in outsourcing orders with the interim dividend raised from 1p to 1.9p.

It added that the guidance it set out in February remains unchanged. Gradually improving market trends underpinning its view that revenues and adjusted operating margin for the full year will be at a similar level to 2009.

Logica shares have surged 6.12%.

 

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