April 14, 2024

News and Political Commentary

FTSE 100 Mildly In The Green

1 min read

FTSE 100 benchmark of the London Stock Exchange recorded a minor rally on Monday notwithstanding the lingering monetary policy uncertainty. The sharp rebound in retail sales reported on Friday, supported sentiment.

FTSE 100 oscillated between 7,727.79 and 7,692.48 as compared with the previous day’s closing level of 7,711.71.

The benchmark index of the London Stock Exchange is currently trading at 7,726.75, having added 0.20 percent on an overnight basis.

In the 100-scrip index, only 38 are trading in the overnight positive zone.

AstraZeneca rallied close to 3 percent amidst awarding of two new drug approvals in the U.S. Vodafone Group and Rolls Royce Holdings followed with gains of more than 2 percent. Barclays, Segro, Melrose Industries, Standard Chartered, Intercontinental Hotels Group and BAE Systems have all added more than a percent.

Centrica slipped 3.8 percent. Ocado Group and Rentokil Initial have slipped more than 2 percent. Scottish Mortgage Investment Trust, Kingfisher, Fresnillo, Burberry Group and Prudential have declined more than 1.5 percent.

The GBP/USD pair increased 0.13 percent overnight to 1.2615 while the Dollar Index slipped 0.07 percent to 104.23. The sterling ranged between $1.2630 and $1.2599 in the day’s trade.

Bond yields in the U.K. hardened much more than its counterparts in Europe. Ten-year bond yields jumped 0.96 percent to 4.1505 percent. The same was 4.1110 percent a day earlier.

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2024-02-19 07:58:23

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