FTSE 100 little changed as several stocks trade ex-dividend; industrials rise

  • Reuters
  • Stock Market News
FTSE 100 little changed as several stocks trade ex-dividend; industrials rise
Credit: © Reuters.

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* FTSE 100 flat, FTSE 250 down 0.1%

* Ex-dividend trading offsets gains in industrials

* CYBG tanks on mid-caps

Sept 5 (Reuters) - London's FTSE 100 was roughly flat on Thursday, as gains in large industrial stocks after upbeat forecasts from European peers and encouraging news on U.S.-China trade talks offset a drop in several stocks trading ex-dividend.

A drop in stocks trading without dividend entitlement such as BHP BHPB.L and Glencore GLEN.L counteracted a results-driven 5.2% jump in turnaround specialist Melrose MRON.L , and left the FTSE 100 .FTSE struggling for clear direction in early dealings.

Industrial giants such as BAE Systems BAES.L and Rolls-Royce RR.L advanced after French engine maker Safran SAF.PA raised its annual profit forecast and Rafale warplanes maker Dassault Aviation AVMD.PA affirmed its view of higher net sales in 2019.

The FTSE 250 .FTMC slipped 0.1% lower by 07159 GMT, partly due to a more than 20% slump in CYBG CYBGC.L after the Yorkshire Bank and Virgin Money (LON: VM ) owner said it expected to increase its provision for legacy payment protection insurance costs.

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