FTSE 100 ends higher after jump in oil prices, Wall Street struggles ahead of Fed decision
The UK blue chip index moved higher while US markets remain cautious ahead of Federal Reserve announcements
FTSE 100 closes up 19 points
S&P 500 drops flat after opening surge
Sainsbury falls after COVID-19 costs
5.10pm: London s leading index pulls out a win
The FTSE 100 ended Wednesday up 19 points, 0.3%, at 6,964, while the FTSE 250 added 7 points to finish at 22,440.
Oil prices jumped after weekly crude stockpile data fell short of expectations, IG Chief Market Analyst Chris Beauchamp noted. Oil firms in London and on Wall Street have felt the benefit, as the commodity itself rallies, building on the gains made so far this week, Beauchamp wrote. As with equities, it has been unwise to assume the oil rally of recent months has come to an end, and a few more indications of strengthening demand could see oil recover the highs of March.
LONDON MARKET PRE-OPEN: Pearson quarterly sales up; IMI plans buyback
Mon, 26th Apr 2021 07:49
(Alliance News) - Stocks in London are set to dip on Monday, with a rise in coronavirus cases in India and a stronger pound expected to drag on the blue-chip FTSE 100.
In early UK company news, Pearson reported a good start to 2021, while IMI raised its full-year guidance and revealed plans for a GBP200 million share buyback.
Informa unveiled plans to combine its FBX business with Novantas. Tate & Lyle confirmed it is exploring the sale of a controlling stake in its Primary Products business.
IG says futures indicate the FTSE 100 index of large-cap stocks to open 8.76 points, or 0.1%, lower at 6,929.80 on Monday. The index closed just 0.32 of a point higher at 6,938.56 on Friday.
TOP NEWS SUMMARY: Virus cases surge in India and Japan tightens curbs
Mon, 26th Apr 2021 10:46
(Alliance News) - The following is a summary of top news stories Monday.
COMPANIES
Nestle confirmed it is in talks to buy all or part of Bountiful Co from KKR & Co, following press reports. An acquisition could pre-empt a proposed initial public offering of Bountiful, Bloomberg reported on Friday, citing a person familiar with the matter. KKR had been planning to value Bountiful at more than USD6 billion, according to a Bloomberg report in January which cited a person with knowledge of the matter. Bountiful, the owner of the Nature s Bounty vitamins and other health brands, sells products through retailers such as Walmart and CVS, Bloomberg said. Demand for vitamin supplements and other health products has been increased by the pandemic.
LONDON MARKET CLOSE: Airlines rally on Atlantic travel return hopes
Mon, 26th Apr 2021 17:01
(Alliance News) - Stocks in London ended higher on Monday with travel stocks among the gainers against a backdrop of rising coronavirus cases in India.
India is battling a catastrophic, record-breaking outbreak that has overwhelmed hospitals and set crematoriums working at full capacity.
Authorities in northern Italy announced Monday they had identified two cases of the Indian variant of coronavirus, in a father and daughter recently returned from India.
The news follows reports of another case in the central region of Tuscany last month, and comes after the Italian government banned arrivals from the virus-hit country.