Adam Davidson, CEO of Trident Royalties, discusses offtake milestones and catalysts to boost FY24. Watch the video here.

Less Ads, More Data, More Tools Register for FREE
Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO
Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPOView Video
Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant
Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plantView Video

Latest Share Chat

UPDATE 2-FTSE 100 enjoys best day since July

Fri, 06th Dec 2019 10:23

* FTSE 100 up 1.4%, FTSE 250 up 1.1%

* Banks, miners, exporters biggest boosts to main index

* Housebuilders gain on Halifax data

* Blue-chips still record worst week in 2 months
(Adds news items, analyst comments, updates to closing prices)

By Shashwat Awasthi and Muvija M

Dec 6 (Reuters) - Banks and miners propelled London's FTSE
100 to its best day in more than four months on Friday as
optimism around the Sino-U.S. trade talks rose, but recent mixed
signals on prospects of a deal still led the index to its worst
week in two months.

The main bourse advanced 1.4% with gains across the
board, after slipping to a two-month low in the last session.

The more domestically-focussed FTSE 250 rose 1.1%
and bagged its sixth straight week of gains.

U.S. President Donald Trump's comments that the trade talks
were "moving right along" and China's decision to waive imports
tariffs for some soybeans and pork from the United States lifted
sentiment as a torrid week drew to a close.

Further support came from a robust U.S. jobs report that
showed growth increased by the most in 10 months in November,
soothing concerns about a slowdown in the world's largest
economy.

"Forget Star Wars, this year's Christmas blockbuster is
today's non-farm payrolls report," Markets.com analyst Neil
Wilson said.

"A blowout jobs number sent equities higher along with the
U.S. dollar and Treasury yields as it shows the U.S. economy is
doing better than many corners of the market feared."

Notable blue-chip performers included ad firm WPP
which climbed 3% on plans to return about $1.2 billion to
shareholders and Primark owner Associated British Foods
added 2% after it maintained its earnings target.

Luxury brand Burberry extended gains on improved
trade sentiment and after a report of French group Kering's
potential takeover interest in Italy's Moncler
.

Housebuilders, sensitive to Brexit jitters due
to their domestic exposure, jumped 1.4% after mortgage lender
Halifax said house prices rose in November at the fastest annual
rate in seven months.

Despite the day's recovery, the FTSE 100 endured its
steepest weekly fall in two months, as Trump's indication that a
trade deal with China could only come following the 2020
election had knocked nearly 2% off the index on Tuesday.

Sterling's recent rally on optimism that next week's general
election in Britain will lead to a Conservative majority and
help deliver Brexit has also weighed on the exporter-heavy
bourse.

"This time next week the votes will have been counted and we
in the UK may finally have an idea on what's going to happen
with Brexit and who's going to lead it," OANDA analyst Craig
Erlam said.
(Reporting by Shashwat Awasthi, Muvija M and Safia Infant in
Bengaluru; Editing by Sriraj Kalluvila, Bernard Orr)

Related Shares

More News
24 Apr 2024 17:06

CORRECT: No record close for FTSE 100; mixed trade in US

(Correcting day of the week in the opening sentence.)

24 Apr 2024 17:00

LONDON MARKET CLOSE: No record close for FTSE 100; mixed trade in US

(Alliance News) - Stock prices in London closed lower on Thursday, with the FTSE 100's recent rally taking a pause for breath, but not after hitting a...

24 Apr 2024 16:47

Luxury sector outlook clouded by China's slow recovery

PARIS, April 24 (Reuters) - Sales updates from Europe's big luxury brands have offered scant reassurance that Chinese demand for high-end fashion is...

17 Apr 2024 09:33

LONDON BROKER RATINGS: BofA cuts Ashmore; JPMorgan lifts Fresnillo

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

17 Apr 2024 08:48

LVMH Q1 meets expectations, reassuring luxe sector

profit warning

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.