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London's FTSE 100 falls almost 1% | London's FTSE 100 falls almost 1% |
(about 1 hour later) | |
(Open): London's FTSE 100 opened lower after a number of leading companies' shares went ex-dividend. | (Open): London's FTSE 100 opened lower after a number of leading companies' shares went ex-dividend. |
Shares in companies that have just paid out their half-yearly dividend to shareholders tend to fall immediately because new buyers will not receive that payment. | |
Sainsbury lead the losers, falling almost 4%, with Centrica and Admiral also down more than 3%. | Sainsbury lead the losers, falling almost 4%, with Centrica and Admiral also down more than 3%. |
The FTSE 100 lost 0.83% - a fall of 51.25 points - to 6,111.24. | |
Mondi lead the risers, up 3%. Mining stocks started with small gains. | Mondi lead the risers, up 3%. Mining stocks started with small gains. |
On the currency markets, the pound was all but unchanged against the dollar at $1.4432 and was also unchanged against the euro at €1.2644. | On the currency markets, the pound was all but unchanged against the dollar at $1.4432 and was also unchanged against the euro at €1.2644. |