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FTSE 100 ends lower as Unilever tumbles, Asian stocks trade mixed while Sensex slips

Unilever fell almost 6 per cent after it warned that surging commodity costs would squeeze its full-year operating margin

Stuti Mishra
Friday 23 July 2021 06:27 BST
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FTSE 100 failed to cross the 7,000 level again after ending Wednesday’s session near it
FTSE 100 failed to cross the 7,000 level again after ending Wednesday’s session near it (PA Wire)

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London’s FTSE 100 dropped from the near 7,000 level it attained the previous day, weighed down by a heavy fall in Unilever, while a selloff also triggered the energy, commodity and consumer linked stocks.

The blue-chip index ended 0.4 per cent down on Thursday with Unilever falling almost 6 per cent after it warned that surging commodity costs would squeeze its full-year operating margin, overshadowing strong second-quarter sales growth. House-builder Persimmon and banking company Natwest were among the top losers.

Despite a jump in oil prices, energy stocks fell 1.6 per cent.

Meanwhile, the midcap FTSE 250 rose on a set of positive corporate results and ended 0.6 per cent higher.

The pan-European Stoxx 600 closed up 0.6 per cent, with travel and leisure shares jumping higher, while the European Central Bank held monetary policy steady on Thursday. France’s CAC and Germany’s DAX also ended in green.

On Wall Street, technology stocks led the gains and helped the major indexes end in green while a worse than expected jobless claims report capped some profits. The S&P 500 climbed 0.2 per cent higher, while the tech-heavy Nasdaq Composite led the markets with a 0.3 per cent gain. The Dow Jones Industrial Average closed near the flatline.

In Asia on Friday, major indices traded mixed as Hong Kong stocks slid around a per cent after talks of serious penalties for Didi Global Inc by regulators. Shanghai Composite tumbled 0.6 per cent by midday. Japan’s Nikkei is trading in the green, 0.5 per cent higher.

Indian indices also slipped into the red territory after its opening was dragged by banking and realty stocks. BSE Sensex was down 0.1 per cent while NSE benchmark Nifty fell 0.05 per cent.

Additional reporting by agencies

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