FTSE 100 takes a dive as banks weigh; British Gas owner Centrica under pressure - Market Report

Proactive - Interviews for investors

London’s FTSE 100 has plunged this morning as a horde of blue chips slid on their second-quarter results, while the backdrop of a continued US tech sell-off lingers. Lloyds Bank shares dropped at the open despite it reporting a solid set of first-half results, with all the other banks following suit and trading lower. Profits at the UK’s largest lender came in slightly ahead of forecasts and the interim dividend was hiked by 15%. Rentokil, the pest management service, was one of the largest fallers after management trimmed profit guidance due to extra investment. Nevertheless, its interim results showed progress in North America, a key area of investor concern after it caused last year's profit warning. British Gas owner Centrica was the FTSE 100’s biggest faller in the early hours of trading after its profits tumbled as gas prices normalise and the effects of the bumper earnings made last year begin to wash through. Stripping those exceptional gains out, profits still halved to £1 billion, from £2.1 billion, but the British Gas owner upped its interim dividend by 13%. Others with results out included Vodafone and BT Group, both of which slipped lower, while Unilever rallied on improved margins despite missing its sales guidance. #proactiveinvestors #marketreport #ftse #ftse100 #footsie #lloyds #rentokill #centrica #britishgas #vodafone #unilever #btgroup #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews