National Grid's 32.14p Ex-Dividend Cuts 6.75 FTSE Points as Oil Jumps
NGG•National Grid goes ex-dividend with a 32.14p payout, trimming 6.75 points from the FTSE 100 at the open. Heightened Strait of Hormuz tensions lifted Brent crude 2.6% to $96.80, pressuring energy-related stocks including National Grid.
1. Ex-Dividend Detail
National Grid’s shares trade ex-dividend on Thursday with a 32.14p distribution, generating the largest single adjustment of 6.75 points on the FTSE 100 index at the open.
2. Market Opening Reaction
The FTSE 100 dropped 84 points to 10,421 at 8.15am as the ex-dividend moves across major utilities and rising bond yields weighed on investor sentiment.
3. Oil Price Surge
Brent crude rallied 2.6% to $96.80 after warning shots were fired near the Strait of Hormuz, intensifying selling pressure on energy-related stocks including National Grid.
