FTSE 100 drops as Shell, Lloyds sag after earnings reports
On Thursday, British blue-chip shares went down as market participants absorbed a storm of corporate earnings updates with stocks of Royal Dutch Shell PLC as well as Lloyds Banking Group PLC dropping after their data.
The FTSE 100 tumbled 0.1%, being worth 6,746.48, though it had been down by more during the early trading session On Wednesday, the index closed +0.4%, hitting 6,750.43, the best outcome since last August.
The prospect of the US interest-rate hike was helping to get the London benchmark out from that 2016 peak. Late Wednesday, the Fed kept the door open for an interest-rate lift in September, stressing that near-term risks to its outlook have decreased.
Shell stocks sagged 3.2% after the crude major reported a dip in its second-quarter revenue, telling that lower crude prices still remain a serious challenge across the business, especially in the upstream. Its adjusted revenues of $1.05 billion dipped short of a $2.27 billion forecast drawn from a Wall Street Journal survey of experts.