London stocks rose in early trading on Thursday after the US Federal Reserve signaled that it would maintain loose monetary policy.
At 08:35 Moscow time, the FTSE 100 index rose 0.6% to 6,926.01.
Spreadex Analyst Connor Campbell said, “The soft minutes from the Federal Reserve Board have once again convinced investors that Jay Powell and his gang will not turn on the taps to stimulate anytime soon.”
He noted that “reassuring words” from the Fed allowed the FTSE to open in positive territory for the third day in a row.
“According to the UK 6920 Index, the FTSE is now at its best price since the end of February 2020. That’s right, before the pandemic! ”Campbell said.
“This has a lot to do with selective hearings on behalf of the FTSE, things like the IMF’s revised global growth forecasts and a general sense of optimism about the UK’s recovery from the coronavirus, while ignoring warnings about a slowdown in vaccine deployment and blood clot problems associated with the use of the Oxford injections by children under 30 years of age. “
In stock markets Johnson Matthey firmly topped the FTSE 100 after the specialty chemicals company said its annual results would be roughly in line with market expectations as it announced a strategic review of its healthcare business.
Household goods group Dunelm also rose as it reported a 16.8% drop in third-quarter sales, reflecting the impact of the latest national Covid lockdown, but said it would end the year “slightly ahead” of expectations.
Anglo American was higher as it announced the divestiture of its coal mines in South Africa.
OSB also rallied after it announced a 25% dividend payout as the bank reported a 9% drop in baseline earnings due to rising bad debt and lower margins.
On the other hand, Aviva, Smurfit Kappa, Mondi, DS Smith, Straight line, Grafton, Money supermarket, Ultra Electronics and Quilter they were all weaker as their shares went without dividend payments.
FTSE 100 (UKX) 6,926.01 0.59%
FTSE 250 (MCX) 22,184.36 0.11%
techMARK (TASX) 4 330.21 0.52%
FTSE 100 – Risers
Johnson Matthey (JMAT) 3,236 pence 4.42%
Anglo-American (AAL) 3,079.00 pence 3.05%
Intertek Group (ITRK) 6,002.00 pence 2.67%
Evraz (EVR) 605.00 pence 2.61%
Spirax-Sarco Engineering (SPX) 11,945.00 pence 2.40%
Sage Group (SGE) 643.40p 2.26%
Information (INF) 598.60p 2.05%
Experian (EXPN) 2,583.00 pence 1.85%
Aveva Group (ABB) 3,688.00 pence 1.60%
JD Sports Fashion (JD). 876.80p 1.50%
FTSE 100 – Fallers
Aviva (AV.) 404.80p -3.71%
Smurfit Kappa Group (CDI) (SKG) 3,516.00 pence -1.98%
Mondi (MNDI) 1,900.00 pence -1.40%
Smith (DS) (SMDS) 418.60p -1.37%
International Consolidated Airlines Group SA (CDI) (IAG) 215.00 pence -1.31%
British Land Company (BLND) 512.40p -1.12%
Pershing Square Holdings Ltd NPV (PSH) 2,695.00 pence -0.92%
Unilever (ULVR) 4,102.00 pence -0.76%
Barratt Developments (BDEV) 784.60p -0.66%
Land Securities Group (LAND) 714.00 pence -0.53%
FTSE 250 – Risers
Airtel Africa (AAF) 86.35p 4.16%
Hochschild Mining (HOC) 212.60p 3.00%
Dunelm Group (DNLM) 1385.00 pence 2.74%
Hammerson (HMSO) 38.98p 2.71%
OSB group (OSB) 466.20p 2.15%
Oxford Biomedica (OXB) 1,008.00 pence 2.02%
Tulle Oil (TLW) 48.90p 1.98%
Mir JSC (JSC.) 329.40p 1.92%
BlackRock Smaller Companies Trust (BRSC) 1870.00 pence 1.74%
Caledonia Investments (CLDN) 2,720.00 pence 1.68%
FTSE 250 – Fallers
Direct Insurance Group (DLG) 307.70p -4.53%
Shaftesbury (SHB) 636.00 pence -2.97%
Mitie Group (MTO) 62.00p -2.97%
Sanne Group (SNN) 649.00 pence -2.84%
Moneysupermarket.com Group (MONY) 272.20p -2.79%
Carnival (CCL) 1,749.00 pence -2.78%
Grafton Group Ut (CDI) (GFTU) 1,034.00 pence -2.45%
Quilter (QLT) 163.80p -2.38%
TR Property Inv Trust (TRY) 398.50p -2.21%
Group of Men (EMG) 165.05p -1.99%