FTSE 100 closes in the green but FTSE 250 loses ground as market searches new narrative
The UK s top share index finished up over 35 points, or 0.52%, at 6,895
FTSE closes up 35 points
Just Eat hit by competition plans in Germany
US stocks in the green
5pm: FTSE closes ahead
FTSE 100 closed in positive territory midweek as stock markets rebounded after Tuesday s falls.
The UK s top share index finished up over 35 points, or 0.52%, at 6,895, with pharma groups and tobacco giants making up some of the top risers.
The more domestically focused FTSE 250 went the other direction though, losing nearly 23 points, or 0.,10%, at 22,085.
Cheif market analyst at online trading group IG Chris Beauchamp noted that the market still seems in search of a new narrative and added that earnings season provides the potential for some more downside as companies find themselves struggling to spin a positive case to justify further appreciation in their stock prices .
Oilex raises funds to take full control of Indian gas project
A look at the major movers on the London market on Wednesday
Oilex Limited (LON:OEX) has seen its shares gush up after it finalised the funding to take full control of an Indian gas project, something it has been trying to do for more than four years.
It has wanted to buy the 55% of the Cambay field it does not own since 2016 but it got into a spat with its partner - the state-backed Gujarat State Petroleum Corporation Limited (GSPC) - over expense payments which at one point went to an Indian court.
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A glance at some of the day s highlights from the Proactive Investors newswire
Argo Blockchain PLC (LON:ARB) revealed that it has signed a contract with Navier Inc, a specialist designer and builder of cryptocurrency mining facilities, to co-develop the company’s new facility in Helios, Texas.
Parity Group PLC (LON:PTY) said it has seen an encouraging start to 2021 and anticipates more growth in the second half as business confidence returns.
Savannah Resources PLC (LON:SAV) said it raised £10.3mln, before expenses, through an oversubscribed placing and direct subscription and that the net proceeds will mainly go towards progressing its flagship Mina do Barroso project in Portugal.