Reuters: Hot Stocks: FTSE dented by companies trading ex-dividend

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FTSE dented by companies trading ex-dividend Mar 13th 2013, 08:06 LONDON, March 13 | Wed Mar 13, 2013 4:06am EDT LONDON, March 13 (Reuters) - Britain's top shares slipped on Wednesday, easing back from five-year highs, pressured by falls in stocks trading without the attraction of their latest dividend. Stocks trading ex-dividend accounted for around a third of the FTSE 100's decline, with British American Tobacco , Hargreaves Lansdown, Land Securities , Meggitt, Serco and Standard Chartered knocking a hefty 10.71 points off the index. The UK blue chip index was down 29.29 points, or 0.5 percent, at 6,481.33 by 0801 GMT, having ended the previous session up 0.1 percent at 6,510.62, marking its highest close since late 2007, with banks the biggest fallers on Wednesday. "The fundamentals still remain supportive, but we must remember that stock markets don't go up in straight lines so we wouldn't be surprised if there's a pullback in the short-term," Henk Potts, market strategist at Barclays, said. "Investors should use any weakness to take advantage of an asset class that's going to outperform longer-term." (Reporting by Tricia Wright; Editing by Toni Vorobyova) Link this Share this Digg this Email Reprints

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