Craig Foster, Ondo InsurTech, discusses the expanded partnership with Nationwide in the US. Watch the interview here.

Less Ads, More Data, More Tools Register for FREE
Sponsored Content
Sponsored Content

Pin to quick picksNEX.L Share News (NEX)

  • There is currently no data for NEX

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

LONDON MARKET MIDDAY: Oil lifts FTSE but CAC, DAX fall before US jobs

Fri, 04th Feb 2022 12:02

(Alliance News) - The FTSE 100 made muted gains midday Friday, with impetus provided by rising oil prices and strong quarterly results from Amazon unable to prevent cautious trade ahead of the latest US nonfarm payrolls report.

As traders digest a pair of central bank decisions on Thursday, the pound has weakened, though the euro has consolidated its post-European Central Bank gains. Attention now shifts to the US jobs report at 1330 GMT.

The FTSE 100 index was up just 7.23 points, or 0.1%, at 7,536.07. The mid-cap FTSE 250 index was down 101.77 points, or 0.5%, at 21,866.01. The AIM All-Share index was down 4.29 points, 0.4%, at 1,085.93.

The Cboe UK 100 index was 0.1% higher at 748.48. The Cboe 250 was down 0.8% at 19,543.64, and the Cboe Small Companies was 0.1% lower at 15,372.01.

In mainland Europe, the CAC 40 stock index in Paris was down 0.8% and the DAX 40 in Frankfurt was 1.4% lower.

Amazon, which had lost 7.8% in the main trading session in New York on Thursday, was up 11% in pre-market trade on Friday following a strong set of quarterly results.

On Thursday, shares in Facebook-owner Meta Platforms had dropped 26% on poorly received results posted late Wednesday. Meta was up 0.5% in pre-market trade on Friday.

"The FTSE 100 made a good start on Friday amid all the drama. Resources firms and Shell led the market higher on strong energy prices, with European oil sites being hit by cyber-attacks only adding to the pressures on crude supply," AJ Bell analyst Russ Mould commented.

Shell shares rose 3.6%, while peer BP added 2.9%.

Brent oil was quoted at USD92.60 a barrel midday Friday, up sharply from USD89.45 at the London equities close on Thursday.

Share price declines in the travel sector hurt London's blue-chip index.

British Airways-parent International Consolidated Airlines Group fell 2.1%, while Rolls-Royce and Melrose, which have exposures to the travel industry as equipment suppliers, lost 2.7% and 3.3%.

Among mid-caps, cruise ship firm Carnival fell 2.4%, and coach operator National Express gave back 2.8%.

Shaking off the travel sector malaise was SSP Group, which operates catering and retail units at rail stations and airports. The stock was up 1.1%.

In the four-month period from October 1 to January 30, SSP said that group revenue was at 62% of 2019 levels.

"The spread of the Omicron variant around the world and the subsequent government restrictions have inevitably had an impact on passenger numbers in many of our markets," SSP said.

Group sales in the more-recent eight weeks from December 6 stood at 57% of 2019 levels.

AJ Bell's Mould added: "Travel food hub operator SSP may have reported a big hit from Omicron ,but investors were largely content to look forward to sunnier horizons with a target of returning to pre-pandemic levels of profitability and sales growth by 2024."

London-listed exploration and production firms got a boost after Barclays went 'neutral' on the sector, having had a 'negative' stance previously.

It lifted its rating for West Africa-focused oil and gas producer Tullow to 'overweight' from 'equal weight'. Tullow shares were 4.5% higher. EnQuest rose 3.4% despite being cut by Barclays to 'equal weight' from 'overweight'.

FTSE 250-listed Capricorn Energy and Harbour Energy were up 2.6% and 2.0%.

Elsewhere in London, Joules was a standout AIM performer, as the consumer stock finally received some respite after three hefty falls in successive sessions. The stock was up 8.2% at midday.

The British lifestyle retailer's shares dropped 45% on Tuesday following another profit warning. Declines of 7.8% on Wednesday and 11% on Thursday followed.

The pound was quoted at USD1.3567 midday Friday, down from USD1.3616 at the London equities close on Thursday. The euro stood at USD1.1476, up from USD1.1425. Against the yen, the dollar was trading at JPY114.87, flat from JPY114.85.

Analysts at Lloyds Bank noted the pound initially got a boost following the Bank of England's decision to hike interest rates.

"The most significant move, however, was in the euro after the ECB's more hawkish pivot increased the likelihood of an interest rate rise later this year," Lloyds added.

On the UK political front, Prime Minister Boris Johnson is having to consider a reshape of his inner circle after four key advisers resigned, leaving him further isolated as he battles to keep his premiership alive.

Government ministers tried to argue the exodus was part of Johnson "taking charge" as he faces a potential leadership challenge amid allegations of lockdown rule-breaking parties in Downing Street.

Ahead of the US jobs report, stock index futures in New York were mixed on Friday, following a market sell-off on Thursday. The Dow Jones Industrial Average was called down 0.4% and the S&P 500 down 0.1%. However, the tech-heavy Nasdaq Composite, the worst-hit on Thursday, was pointed 0.6% higher.

According to FXStreet cited consensus, 150,000 jobs are expected to have been added in January in the US, falling from 199,000 in December.

Wednesday's ADP figure showed employment decreased by 301,000 jobs, massively undershooting expectations of an addition of 207,000 jobs. In December,US employment rose by 776,000, according to ADP.

Gold stood at USD1,811.11 an ounce midday Friday, up from USD1,805.70 at the London equities close on Thursday.

By Eric Cunha; ericcunha@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

More News
2 Jun 2023 12:16

Director dealings: National Express board invests, British Land CFO makes £0.1m sale

(Sharecast News) - British Land was on the list of director sells on Friday, after its chief financial officer sold more than £0.1m to cover his bills after he vested a number of performance shares.

Read more
26 May 2023 09:41

LONDON BROKER RATINGS: RBC cuts Halfords; Berenberg likes Sabre

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

Read more
10 May 2023 09:59

National Express to change name to Mobico in early June

(Alliance News) - National Express Group PLC on Wednesday said it will change its name to Mobico Group PLC from early June.

Read more
10 May 2023 07:55

LONDON BRIEFING: Compass sets share buyback; Melrose ups outlook

(Alliance News) - The FTSE 100 is expected to open marginally higher on Wednesday, following positive updates from some UK blue-chip companies and ahead of a US consumer price index reading.

Read more
10 May 2023 07:20

National Express announces name change to Mobico Group

(Sharecast News) - National Express announced its decision to change its name to Mobico Group.

Read more
3 May 2023 14:51

UK shareholder meetings calendar - next 7 days

Thursday 4 May 
AIB Group PLCAGM
Aviva PLCAGM
Aviva PLCGM re capital reduction
BAE Systems PLCAGM
Bivictrix Therapeutics PLCAGM
Domino's Pizza Group PLCAGM
Glanbia PLCAGM
Grafton Group PLCAGM
Hammerson PLCAGM
Howden Joinery Group PLCAGM
Hurricane Energy PLCCourt Meeting & GM re takeover by Prax Exploration & Production PLC  
Indivior PLCAGM
IMI PLCAGM
Irish Residential Properties REIT PLCAGM
ITV PLCAGM
Jardine Matheson Holdings LtdAGM
Johnson Service Group PLCAGM
LungLife AI IncAGM
Mincon Group PLCAGM
Mondi PLCAGM
Moneysupermarket.com Group PLCAGM
Morgan Sindall Group PLCAGM
Spirent Communications PLCAGM
Personal Group Holdings PLCAGM
Phoenix Group Holdings PLCAGM
Rathbones Group PLCAGM
SIG PLCAGM
Ten Entertainment Group PLCAGM
Travis Perkins PLCAGM
Witan Investment Trust PLCAGM
Friday 5 May 
abrdn Smaller Companies Income Trust PLCAGM
Holders Technology PLCAGM
HSBC Holdings PLCAGM
InterContinental Hotels Group PLCAGM
James Fisher & Sons PLCAGM
Man Group PLCAGM
Rightmove PLCAGM
UK Oil & Gas PLCAGM
Monday 8 May 
no events scheduled 
Tuesday 9 May 
Caledonia Mining Corp PLCAGM
Direct Line Insurance Group PLCAGM
Foxtons Group PLCAGM
Hostelworld Group PLCAGM
IWG PLCAGM
Just Group PLCAGM
Midwich Group PLCAGM
Osirium Technologies PLCAGM
Windward LtdAGM
Wednesday 10 May 
abrdn PLCAGM
Antofagasta PLCAGM
Cenkos Securities PLCAGM
Ecora Resources PLCAGM
H&T Group PLCAGM
Harbour Energy PLCAGM
Jupiter Fund Management PLCAGM
Literacy Capital PLCAGM
Luceco PLCAGM
Marshalls PLCAGM
National Express Group PLCAGM
Renewables Infrastructure Group LtdAGM
Rentokil Initial PLCAGM
Seplat Energy PLCAGM
Spirax-Sarco Engineering PLCAGM
TClarke PLCAGM
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

Read more
19 Apr 2023 12:15

LONDON MARKET MIDDAY: Stocks falter on US hike expectations and UK CPI

(Alliance News) - London's FTSE 100 traded lower on Wednesday at midday, hurt by a stubbornly high UK inflation reading and expectations for more interest rate hikes by both the Bank of England and the US Federal Reserve.

Read more
19 Apr 2023 08:19

National Express quarterly revenue rises; begins cost-saving programme

(Alliance News) - National Express Group PLC on Wednesday said its first quarter was in line with expectations, as it launched a productivity improvement and cost reduction programme amid concerns about continued uncertainty in the transport industry.

Read more
19 Apr 2023 07:18

UK, German help drive rise in National Express Q1 revenue

(Sharecast News) - Transport operator National Express reported a rise in first-quarter revenues driven by an improvement in UK buses and German rail.

Read more
6 Apr 2023 15:43

UK dividends calendar - next 7 days

Friday 7 April 
Safestore Holdings PLCdividend payment date
Monday 10 April 
Barratt Developments PLCex-dividend payment date
RIT Capital Partners PLCex-dividend payment date
Tuesday 11 April 
Dunelm Group PLCdividend payment date
Gore Street Energy Storage Fund PLCdividend payment date
Hays PLCdividend payment date
JPMorgan Global Growth & Income PLCdividend payment date
Mobius Investment Trust PLCdividend payment date
Renishaw PLCdividend payment date
Ricardo PLCdividend payment date
Wednesday 12 April 
Assura PLCdividend payment date
Goodwin PLCdividend payment date
LondonMetric Property PLCdividend payment date
Personal Assets Trust PLCdividend payment date
Schroder European Real Estate Investment Trust PLCex-dividend payment date
Thursday 13 April 
Alfa Financial Software Holdings PLCspecial ex-dividend payment date
Alpha FX Group PLCex-dividend payment date
BlackRock Latin American Investment Trust PLCex-dividend payment date
Capital & Regional PLCex-dividend payment date
Carr's Group PLCex-dividend payment date
Dechra Pharmaceuticals PLCdividend payment date
DFS Furniture PLCex-dividend payment date
Diageo PLCdividend payment date
Foxtons Group PLCex-dividend payment date
Franchise Brands PLCex-dividend payment date
Grafton Group PLCex-dividend payment date
GSK PLCdividend payment date
Harbour Energy PLCex-dividend payment date
ITV PLCex-dividend payment date
Johnson Service Group PLCex-dividend payment date
JPMorgan Asia Growth & Income PLCex-dividend payment date
JPMorgan Japan Small Cap Growth & Income PLCex-dividend payment date
Just Group PLCex-dividend payment date
Kenmare Resources PLCex-dividend payment date
Kerry Group PLCex-dividend payment date
Kingspan Group PLCex-dividend payment date
Law Debenture Corp PLCdividend payment date
Lloyds Banking Group PLCex-dividend payment date
Manchester & London Investment Trust PLCex-dividend payment date
National Express Group PLCex-dividend payment date
Old Mutual Ltdex-dividend payment date
Persimmon PLCex-dividend payment date
Rotork PLCex-dividend payment date
Scottish American Investment Company PLCdividend payment date
Smurfit Kappa Group PLCex-dividend payment date
Softcat PLCex-dividend payment date
TP ICAP Group PLCex-dividend payment date
Trifast PLCdividend payment date
Unite Group PLCex-dividend payment date
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

Read more
17 Mar 2023 09:32

LONDON BROKER RATINGS: UBS likes LSEG; BofA lifts Weir Group

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

Read more
13 Mar 2023 07:54

LONDON BRIEFING: HSBC buys UK arm of failed Silicon Valley Bank

(Alliance News) - The FTSE 100 was called down on Monday morning, as the fall out from the collapse of Silicon Valley Bank continues, with HSBC Holdings stepping in to buy SVB's UK arm.

Read more
9 Mar 2023 09:15

LONDON BROKER RATINGS: Liberum cuts National Express to 'sell'

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning:

Read more
9 Mar 2023 07:12

Liberum cuts National Express to 'sell' on leverage woes

(Sharecast News) - Liberum downgraded National Express on Thursday to 'sell' from 'hold' and cut the price target to 115p from 155p as it said leverage remains its key concern.

Read more
2 Mar 2023 16:54

LONDON MARKET CLOSE: FTSE 100 higher as CRH shines, sterling weakens

(Alliance News) - Stocks in London were largely, but tentatively, higher at the close on Thursday, with the FTSE 100 boosted by a strong performance from building materials firm CRH and a weaker pound.

Read more

Make Better Investment Decisions

Register for FREE

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.