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London close: Stocks stage late rally after positive US labour data

Thu, 14th May 2015 16:44

After a negative start, UK stocks rallied into the close as improving labour-market data from the States lifted sentiment.After a choppy week, owing mainly to volatility on the government bond market, Wall Street indices opened higher following a Labor Department report which showed that US jobless claims unexpectedly declined last week.The FTSE 100 finished the session up 23.41 points (+0.34%) at 6,973.04, well above the intraday low of 6,884.63 reached early on.The Dow Jones Industrial Average was up 0.9% at 18,218 by the close in London, nearing a new record high after data showed that initial claims for unemployment benefits inched 1,000 lower to 264,000 in the week ended 9 May. Analysts had expected a rise to 273,000.Meanwhile, the four-week moving average, which smoothes out week-to-week volatility, dropped 7,750 to a new 15-year low of 271,750.The mood on the market was also supported by comments from Federal Reserve vice chair Donald Kohn who said that a June interest rate hike is off the table. He said that the Fed would likely tighten policy in either September or December.UK equity markets had started on the back foot after reports that Greek finance minister Yanis Varoufakis has called for the European Central Bank to delay Athens' debt repayments, though downside was limited with trading volumes lower across Europe."As both France and Germany have enjoyed bank holidays, European equities have understandably had a particularly lethargic feel to them today," said IG analyst Alastair McCaig.Earnings mostly well-receivedInvestment group 3i impressed with its annual results with a strong total return of 20% for the year.Property giant British Land gained after meeting forecasts with a small increase in profits in the year ended 31 March. Diluted underlying earnings per share increased 4.1% to 30.6p, more or less in line with consensus estimates.ITV declined as, despite net advertising revenue for the first quarter being ahead of guidance, sentiment was dampened by reports of a lower second quarter. Furthermore, staff are holding a 24-hour strike over pay with a protest at the broadcaster's annual shareholder meeting.Alton Towers and Madame Tussauds owner Merlin Entertainments edged higher after a "satisfactory" start to 2015, boosted by favourable weather in Europe and helpful currency movements.Pharmaceutical outfit Hikma advanced as it reiterated its guidance for full-year revenue growth of "around 6% in constant currency".A number of blue-chip stocks were trading lower after going ex-dividend, including Aberdeen, Shell, Glaxosmithkline, Kingfisher and J Sainsbury.Market MoverstechMARK 3,241.08 +0.15%FTSE 100 6,973.04 +0.34%FTSE 250 17,929.33 +0.38%FTSE 100 - Risers3i Group (III) 527.50p +3.03%Mondi (MNDI) 1,453.00p +2.76%Shire Plc (SHP) 5,295.00p +2.42%Hikma Pharmaceuticals (HIK) 2,079.00p +2.41%easyJet (EZJ) 1,690.00p +2.24%Diageo (DGE) 1,786.50p +1.82%St James's Place (STJ) 941.50p +1.78%Smiths Group (SMIN) 1,148.00p +1.77%Reckitt Benckiser Group (RB.) 5,767.00p +1.76%Pearson (PSON) 1,323.00p +1.61%FTSE 100 - FallersKingfisher (KGF) 352.60p -2.33%Sainsbury (J) (SBRY) 269.20p -2.29%Anglo American (AAL) 1,110.50p -1.86%Aberdeen Asset Management (ADN) 437.50p -1.38%GlaxoSmithKline (GSK) 1,430.50p -1.38%Royal Dutch Shell 'A' (RDSA) 2,018.50p -1.32%BHP Billiton (BLT) 1,549.00p -1.31%Royal Dutch Shell 'B' (RDSB) 2,055.00p -1.27%Capita (CPI) 1,257.00p -1.18%ITV (ITV) 257.30p -1.04%FTSE 250 - RisersZoopla Property Group (WI) (ZPLA) 228.90p +5.97%TalkTalk Telecom Group (TALK) 384.10p +5.75%Dechra Pharmaceuticals (DPH) 1,060.00p +4.23%RPS Group (RPS) 224.00p +3.66%Saga (SAGA) 207.90p +3.43%Jardine Lloyd Thompson Group (JLT) 1,054.00p +3.23%Crest Nicholson Holdings (CRST) 494.40p +3.02%Bwin.party Digital Entertainment (BPTY) 89.40p +3.00%Workspace Group (WKP) 875.00p +2.76%Man Group (EMG) 174.00p +2.65%FTSE 250 - FallersRestaurant Group (RTN) 688.00p -4.38%Keller Group (KLR) 987.00p -4.08%Euromoney Institutional Investor (ERM) 1,209.00p -3.28%Telecity Group (TCY) 1,080.00p -3.14%AL Noor Hospitals Group (ANH) 824.00p -3.06%Vesuvius (VSVS) 442.30p -2.96%SIG (SHI) 205.30p -2.79%Premier Oil (PMO) 183.00p -2.40%Carillion (CLLN) 330.80p -2.39%Inmarsat (ISAT) 993.50p -2.02%
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5 Nov 2019 14:39

Merlin Entertainments Ceases Trading In London After Motion Takeover

Merlin Entertainments Ceases Trading In London After Motion Takeover

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4 Nov 2019 18:21

Merlin Entertainments Shares Suspended Ahead Of Takeover By Motion

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18 Oct 2019 17:08

Merlin Entertainments Confirms Regulatory Approval Gained For Takeover

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8 Oct 2019 15:57

UK Earnings, Trading Statements Calendar - Next 7 Days

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7 Oct 2019 18:58

Moody's Assigns B1 Ratings To Merlin Entertainments Bidder Motion

Moody's Assigns B1 Ratings To Merlin Entertainments Bidder Motion

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27 Sep 2019 09:54

Merlin Entertainments Inks Partnership Deal For Legoland Sichuan

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25 Sep 2019 10:46

Immotion Revenue Rises As It Brings Virtual Reality To Dubai Aquarium

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3 Sep 2019 17:14

Merlin Entertainments Acquisition By Motion Gets Shareholder Approval

(Alliance News) - Merlin Entertainments PLC on Tuesday said its acquisition by Motion Acquisition Ltd has been approved by shareholders.Motion Acquisition is a newly formed company created

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27 Aug 2019 15:55

UK Shareholder Meetings Calendar - Next 7 Days

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1 Aug 2019 11:17

Merlin Entertainments First Half Profit Dips On Increased Expenses

(Alliance News) - Merlin Entertainments PLC on Thursday said its profit dropped by a quarter in the first half of 2019, whilst new site openings boosted revenue growth.The attractions, and

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25 Jul 2019 16:05

UK Earnings, Trading Statements Calendar - Next 7 Days

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4 Jul 2019 11:52

Moody's Places Merlin Ba2 Rating Under Review For Downgrade

(Alliance News) - Moody's Investors Service on Thursday said it placed under review for downgrade the Ba2 corporate family rating of Merlin Entertainments PLC.The outlook has also been

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1 Jul 2019 10:44

BROKER RATINGS SUMMARY: IAG Cut To Market-Perform And Carnival To Hold

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Friday:----------FTSE 100----------UBS RAISES RECKITT PRICE TO

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28 Jun 2019 17:03

LONDON MARKET CLOSE: Stocks Rally As Trump-Xi Meeting Draws Near

(Alliance News) - Stocks in London ended broadly higher on Friday on hopes of a de-escalation in the US-China trade war as the G20 summit in Osaka continues.US President Trump and Chinese Xi will

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28 Jun 2019 12:17

LONDON MARKET MIDDAY: Stocks Up As G20 Starts; Boris Boosts Builders

(Alliance News) - London shares were mostly in the green at midday on Friday, led by UK homebuilders after Conservative Party leadership frontrunner Boris Johnson offered to reduce stamp duty in a

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