FTSE 100 ends back in the green; S&P 500 climbs toward a record in the US
Companies
FTSE 100 ends back in the green; S&P 500 climbs toward a record in the US
The UK blue-chip index was supported by fashion group and oil companies, while Wall Street edged higher at midday in the US
FTSE 100 up 28 points
US stocks pick up
5.04pm: June off to to a positive start for markets
The FTSE 100 closed Wednesday up 28 points, 0.4%, at 7,108, while the FTSE 250 gained 58 points, 0.3%, to 22,933. The second day of June has been another broadly positive one for stock markets, although gains on the FTSE 100 have been somewhat muted, IG Chief Market Analyst Chris Beauchamp wrote. Markets are making steady progress this afternoon, although a lack of macro drivers have left things a little dull. However, ‘never short a dull market’ is a key adage for investors and traders, and remains an important principle to remember, especially when the urge to ‘sell in May (or June) and go away’
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ABS, its cattle breeding business, is also doing well in Brazil, Russia, India and again in China.
However, the firm warned that growth in the second half was likely to slow because of the growing prevalence of Covid-19 across the globe, which is causing ‘challenges for our customers and employees’.
Following the update, its shares at one stage hit an all-time high of 4560p. They closed up 4.2 per cent, or 180p, at 4492p, valuing the company at £2.9billion.
Stock Watch - James Cropper
Shares rose in James Cropper after the paper, luxury packaging and advanced materials maker revealed an acquisition.