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Highlights
- FTSE100 has moved higher by 0.47% to trade at 7,051, while mid-cap focused FTSE250 index was up by 0.59%.
- Major European indexes are also trading in green after ECB president Christine Lagarde said the Euro Zone economy is recovering at a faster pace than previously estimated.
FTSE 100 maintained its early morning gains and was up by 0.47% at 7,051, while mid-cap focused FTSE 250 index trades at 23,571, up by 0.59%. gains of the blue-chip index were led by Ashtead Group, which following its better than expected first quarter earnings numbers was up by around 6%. The company’s rental revenue was up by 22% at USD 1,669 million, while its operating profits surged by 53% at USD 477 million.
Top five FTSE100 gainers
Ashtead Group plc (5.56%), Rolls Royce Holdings Plc (4.21%), Flutter Entertainment (3.87%), International Consolidated Airlines Group SA (3.63%) Intermediate Capital Group plc (2.53%)
Top five FTSE100 losers
Anglo American (-4.42%), Rio Tinto plc (-2.45%), Fresnillo (-2.33%), BHP Group Plc (-2.27%), Ocado Group plc (-1.91%)
European Markets
Major European market indexes are trading in the green. The German blue-chip DAX index is up by 0.71% at 15,725, while the benchmark index of France, CAC 40, was at 6,656, up by 1.11%. As per European Central Bank President Christine Lagarde, the Euro Zone economy is recovering at a faster pace than previous estimates, mainly because of the reopening of larger sectors of the economy after the rapid vaccination campaign. Euro Zone’s GDP is expected to scale back to pre-pandemic levels before the end of this year.
Currency Markets
The pound trades lower against the dollar at 1.3803, down by 0.25%, while the EUR/ GBP currency pair traded at 0.8515, down by 0.25%. The currency traders are awaiting the Bank of England’s next move after inflation in the UK rose to a decade’s high in August 2021. As per market experts, stronger inflation numbers might force the central bank to tighten monetary policy earlier than the European Central Bank or the US Federal Reserve.
Commodities
WTI crude oil future contract traded at USD 72.09, down by 0.72%, while the Brent crude oil trades at USD 74.96, down by 0.66%. Crude oil prices are trading downward after a sharp rise witnessed over the last few weeks as threats of disruption in oil production due to Hurricane Nicholas lowered significantly. US-based energy companies have restored some services quickly after Hurricane Nicholas passed through Texas.
Meanwhile, the Gold futures contract traded downwards, down by 1.85% at USD 1,751 per ounce.
Asian Markets
Major Asia Pacific indexes made a mixed closing. Shanghai Composite of China closed at 3,607, down by 1.34%, while India’s Nifty 50 continued to rally, closing at 17,629, up by 0.63%. Australia’s ASX200 closed at 7,460, up by 0.58%, while Nikkei 225 of Japan closed at 30,323, down by 0.62%. Hang Seng index closed in red, down by 1.46% at 24,667.
