Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Indexes  >  World (autre bourse)  >  FTSE 100    F100   GB0001383545

Indicative prices
FTSE 100 (F100)
Mes dernières consult.
Most popular
News SummaryAll newsNews of the components ofTweets

LONDON MARKETS : FTSE 100 Ends Day Higher As Major Oil Companies And Next Rally

share with twitter share with LinkedIn share with facebook
share via e-mail
01/03/2018 | 06:11pm CET

By Sara Sjolin, MarketWatch

U.K. construction PMI decline more than forecast in December

U.K. stocks closed a volatile day in positive territory on Wednesday, as energy majors rallied on the back of rising oil prices and retailer Next jumped after an upbeat trading report.

Weakness in the pound also boosted the British stock market, with sterling falling after weaker-than-expected data on the U.K. construction sector.

What equity benchmarks did: The FTSE 100 index ended 0.3% higher at 7,671.11, partly reversing a 0.5% loss from Tuesday, the first trading session of the year.

The pound retreated to $1.3518 from $1.3589 late Tuesday in New York, when sterling traded around its highest level since late September.

What drove the market: The blue-chip benchmark traded as low as 7,640.53, hanging around the flatline earlier in the day, but bounced higher in the afternoon as the London-listed oil companies tracked a rally in crude prices .

West Texas Intermediate oil jumped 1.7% to $61.40 and Brent rose 1.4% to $67.46--both trading around their highest levels in 2 1/2 years--as antigovernment protests continued in Iran. The riots, which have left more than 20 people dead, are feared to lead to potential disruptions to crude output from OPEC's third-largest producer, which would limit global oil supply.

U.K. stocks also got a boost from the drop in the pound, which erased an earlier advance after a disappointing reading on the U.K. construction sector. The construction purchasing managers index from December fell to 52.2 from 53.1 in November, missing forecasts of a 52.9 print. A level above 50 signals expansion.

The report follows a weaker-than-expected manufacturing PMI out on Tuesday, which slipped to 56.3 last month from November's 51-month high of 58.2. The services PMI for the U.K. is due on Thursday.

A weaker sterling tends to support the FTSE's big multinationals, as around 75% of revenues for the index are made overseas.

Stock movers: Next PLC (>> Next) climbed 6.7% to top the FTSE 100 index after saying its pre-Christmas sales got a boost from the cold weather . The clothing and home goods company said online sales performed particularly well in the 54-day period to Dec. 24, jumping 13.6% on the year. Total sales for the period rose 1.5%.

The upbeat trading update also included a boost to Next's guidance. The retailer said it now expects to report pretax profit of GBP725 million ($983 million) for the year to January 2018--an improvement on its previous guidance of GBP717 million.

Among other retailers, shares of Marks & Spencer Group PLC (>> Marks & Spencer Group) (>> Marks & Spencer Group) added 1.4%, while Primark-parent Associated British Foods (>> Associated British Foods) (>> Associated British Foods) rose 2.1%.

In the oil sector, shares of BP PLC (>> BP) (>> BP) put on 1.3% and Royal Dutch Shell PLC (>> Royal Dutch Shell Plc) (>> Royal Dutch Shell Plc) gained 1.4%. On the FTSE 250 index , shares of Tullow Oil PLC (>> Tullow Oil) jumped 4.2%.

Also outside the FTSE 100, Carillion PLC (>> Carillion) lost 5.4% after the construction company said it is being investigated by the Financial Conduct Authority in connection with the "timeliness and content of announcements" made by Carillion between December 2016 and July 2017.

What strategists said: "For U.K. investors, the afternoon's big question is whether Next's good figures this morning, which prompted a 7% rally in the shares, will be reflected across the rest of the British High Street," said Chris Beauchamp, chief market analyst at IG, in a note.

"Cautious optimism is being shown in the likes of M&S and Associated British Food, but Next's numbers reflect the relentless trend in strength in online operations and weakness in bricks and mortar. Those shops still relying on the latter may find they cannot match Next's performance," he added.

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on FTSE 100
01/18 EUROPE MARKETS : European Stocks Edge Up As Chinese Data, Chip Makers Cheers Tra..
01/18 LONDON MARKETS : FTSE 100 Suffers 4th Straight Loss As Pound Rises, Primark Owne..
01/18 IMPERIAL BRANDS : Doesn't Expect Material Benefit From U.S. Tax Reform
01/18 WHITBREAD : leaves break-up of business on the table
01/18 EUROPE MARKETS : European Stocks Edge Up As Chinese Data Cheers Traders
01/18 LONDON MARKETS : FTSE 100 Faces 4th Loss As Pound Rises, Primark-owner Falls
01/17 Rolls-Royce shares jump as commercial marine business goes on block
01/17 Rolls-Royce shares jump as commercial marine business goes on block
01/17 EUROPE MARKETS : European Stocks Close With Losses, Weighed Down By Dives For Bu..
More news
News of the components of FTSE 100
08:39a BRITISH LAND : names Simon Carter as next CFO
08:14a ASTRAZENECA : Lynparza receives approval in Japan for the treatment of advanced ..
08:14a ASTRAZENECA : Fasenra receives approval in Japan
08:14a AVIVA : Completes Sale of Taiwan JV
08:13a GLAXOSMITHKLINE : UK-based drugmaker GlaxoSmithKline mulls Kenya staff cuts
08:09a BRITISH LAND : Directorate change
08:09a TESCO : Form 8.3 - TESCO PLC
More news
Technical analysis trends FTSE 100
Short TermMid-TermLong Term
Top / Flop FTSE 100
HARGREAVES LANSDOWN 1919.5 Delayed Quote.4.32%
WHITBREAD 3988 Delayed Quote.3.45%
ROYAL DUTCH SHELL 28.59 Real-time Quote.2.93%
COCA COLA HBC AG 2412 Delayed Quote.2.20%
NMC HEALTH 3198 Delayed Quote.1.46%
MEDICLINIC INTERNATIONAL 606.2 Delayed Quote.-2.07%
RANDGOLD RESOURCES 7076 Delayed Quote.-2.18%
SCOTTISH AND SOUTHERN ENERGY 1300 Delayed Quote.-3.13%
ASSOCIATED BRITISH FOODS 2755 Delayed Quote.-3.57%
MERLIN ENTERTAINMENTS 347 Delayed Quote.-3.93%
Heatmap :