The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.

Less Ads, More Data, More Tools Register for FREE

MARKET COMMENT: Every FTSE 100 Stock Opens Higher On Taper Delay

Thu, 19th Sep 2013 07:28

LONDON (Alliance News) - Shortly after the market open on Thursday, all major UK indices are considerably higher, with every single FTSE 100 stock making gains in the first few minutes of trade.

The FTSE 100 has opened up 1.3% at 6,641.00, the FTSE 250 is up 1.5% at 15,321.00, and the AIM All-Share is up 0.7% at 789.00.

Markets are rallying, following US and Asian markets higher, on the back of last night's decision by the Fed to keep quantitative easing levels on hold. The QE program had now pumped about USD2.8 trillion dollars into the US economy, and markets are now to some extent addicted to the cheap money. A tapering on USD10-15 billion per month had been widely expected. However Ben Bernanke decided the time wasn't right and left asset purchases at USD 85 billion.

Stocks are pushing higher globally on the surprise announcement, with the DJIA recording an all time high Wednesday, closing up 147 points, or 1% at 15,676.

Metal and mining stocks are the big gainers in London. On the FTSE 100, Randgold leads, up nearly 11%. Fresnillo are up over 9% and Anglo American are up nearly 5%.

The solitary losing blue-chip stock after the initial surge is Vodafone, which trades down 0.2%.

UK retail sales at 0930BST provide the first major data release Thursday.

By Jon Darby; jondarby@alliancenews.com; @jondarby100

Copyright 2013 Alliance News Limited. All Rights Reserved.

Related Shares

More News
2 Jan 2019 08:55

LONDON MARKET OPEN: Miners Drag FTSE Lower Following Weak Chinese Data

LONDON (Alliance News) - Stocks in London started the first trading day of 2019 in the red, as disappointing Chinese manufacturing data weighed on the...

18 Dec 2018 08:26

Randgold Resources declares its last dividend ahead of merger with Barrick

(Sharecast News) - Randgold Resources announced on Tuesday that, in anticipation of the completion of the all-share merger of Randgold and Barrick Gol...

6 Dec 2018 17:16

LONDON MARKET CLOSE: Huawei CFO Arrest Sparks Stock Market Sell Off

LONDON (Alliance News) - Stocks in London ended sharply lower on Thursday, with the FTSE 100 slumping to a two-year low, amid heightened trade fears a...

30 Nov 2018 17:10

LONDON MARKET CLOSE: FTSE 100 Ends Week In Red As G20 Summit Kicks Off

LONDON (Alliance News) - Stocks in London suffered as the G20 Summit started in Buenos Aires, with homebuilders and miners taking a hit - pushing Lond...

8 Nov 2018 06:51

PRESS: Barrick Gold To Tidy Up Portfolio With Asset Sales After Merger

LONDON (Alliance News) - Barrick Gold Corp plans a "clean up" of its assets once it completes its merger with London-listed Randgold Resources Ltd, Sk...

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.