FTSE 100 stays range bound even as European shares gain up to 1%

Summary

  • FTSE 100 traded range bound, while FTSE 250 rose over 0.50 per cent on Thursday.
  • London equities failed to sustain the morning gains even as European stocks rallied.
  • LSE’s headline index has fallen sharply after closing above 7,000.
  • Meanwhile, Spain’s IBEX 35 emerged as the lead gainer with a rise of over 1 per cent. 

FTSE 100 traded in a range bound manner on Thursday, 22 April, defying the rally in other major European markets. The benchmark FTSE 100 staged a moderate upswing on Wednesday after the CPI inflation in the 12 months to March 2021 rose to 0.7 per cent. London equities started the day on a positive note but failed to sustain the morning gains even as most of the European markets surged up to 1 per cent.

According to the latest data available with the London Stock Exchange, FTSE 100 was trading at 6,903.28, up 0.12 per cent from the previous close of 6,895.29. During the session so far, the index has registered an intraday peak at 6,921.66, while it briefly touched a day’s bottom at 6,889.32.

FTSE 100

(Source: Refinitiv, Thomson Reuters)

The wider share indicators including the large-cap shares skewed FTSE 350 and FTSE All-Share oscillated in a largely similar fashion on Thursday with gains of not more than 0.20 per cent. However, both the indices soared up to 0.40 per cent in the early morning deals.

On the contrary, the mid-cap heavy stock index FTSE 250 outperformed the leading equity indicator on the LSE.

FTSE 250 managed to sustain the morning gains, rising as much as 0.72 per cent. The domestic market participants are now eyeing the Gfk Consumer Confidence for April 2021 in order to regather the broader optimism.

The headline index has fallen sharply after closing above the psychological mark of 7,000, last week. Of late, the equity market sentiments in London have been largely driven by the macroeconomic indicators and the global investors’ confidence.

Unlike the UK, the headline stock indicators of Germany, France, Spain, and Italy witnessed meaningful gains on Thursday. As per the data with various bourses, DAX of Germany 0.53 per cent, France’s CAC 40 rallied 0.71 per cent, FTSE MIB of Italy added 0.50 per cent, while Spain’s IBEX 35 jumped 1.03 per cent. Switzerland’s SMI retreated in the mid-afternoon session, trading marginally changed at 11,218.55, up 0.08 per cent.


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