Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Indexes  >  FTSE 100 Index    F100   GB0001383545

SummaryChartsNewsAnalysisHeatmapComponents 
News SummaryAll newsNews of the components ofTweets

LONDON MARKETS : FTSE 100 Ends Higher, Joining In European Rally After Dovish ECB Remarks

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/08/2018 | 06:20pm CEST

By Carla Mozee and Victor Reklaitis, MarketWatch

Aviva shares edge up after earnings report

U.K. blue-chip stocks ended higher Thursday, with analysts pinning the advance in part on dovish remarks from European Central Bank President Mario Draghi.

Investors also awaited more details about potential U.S. tariffs on steel imports that analysts have said could stoke a global trade war, while also sifting through a round of corporate updates.

How markets moved

The FTSE 100 index rose 0.6% to end at 7,203.24, building on Wednesday's rise of 0.2% . The London benchmark has gained for four straight sessions.

The pound bought $1.3816, down from $1.3903 late Wednesday in New York.

The pan-European Stoxx Europe 600 closed 1.1% higher at 376.62.

What drove markets

The European Central Bank opted to leave interest rates unchanged , as expected, but also moved closer to ending its quantitative easing program, a key stimulus effort. The ECB dropped its commitment to ramp up asset purchases if the euro zone outlook deteriorates.

The euro was briefly up against the pound following the statement, buying around 89.50 pence compared with 89.26 pence late Wednesday, but then it turned lower after Draghi's remarks. It was recently changing hands at 89.15 pence.

Analysts noted that Draghi emphasized dovish elements of the central bank's latest statement , including a commitment to maintaining rates at present levels for an extended period beyond the end of asset purchases, as well as a continued commitment to potentially extending those purchases beyond September, if necessary.

Traders also were somewhat in wait-and-see mode as President Donald Trump was moving closer to signing an order to slap tariffs on steel and aluminum imports into the U.S. The Trump administration has indicated Canada and Mexico may be exempt from the levies. The president was expected to make an announcement at 3:30 p.m. Eastern Time, or 8:30 p.m. London time, according to media reports .

The European Union has said it's preparing its own tariffs if Trump moves ahead with the levies.

What strategists are saying

"Mario Draghi, the head of the ECB, stated that underlying inflation is subdued and that 'victory' can't be declared yet," said David Madden, a CMC Markets UK analyst, in a note.

"The dovish tone of the press conference encouraged buying of stocks, and the slide in the euro added to the bullish sentiment," the CMC analyst added.

Madden also said the news that Canada and Mexico may be exempt from the planned U.S. tariffs suggests Trump may be less aggressive than feared, but risks remain.

"The U.S. president may want to 'put America first', but it could put global investors last," he said.

Stock movers

G4S PLC fell 2.2%, with shares retreating from earlier gains made after the security and consulting services company declared a higher final dividend for the year and posted a rise in yearly pretax profit to GBP386 million ($536 million).

Aviva PLC declined 0.2% as the insurer said profit in 2017 rose , and that it expects to return GBP500 million ($694.3 million) in excess cash to shareholders this year.

Off the FTSE 100, Countrywide PLC sank 1.6%, but was off session lows, after the estate agent scrapped its dividend , citing the booking of a huge impairment charge and a slide in earnings as reason for the move.

Stocks mentioned in the article : G4S, Countrywide PLC, Aviva
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on FTSE 100 INDEX
06/20LONDON STOCK EXCHANGE : Easing trade worries help FTSE climb while Berkeley tumb..
RE
06/20EUROPE MARKETS: European Stocks Stage Recovery, But U.S.-China Trade Tensions..
DJ
06/20LONDON MARKETS: FTSE 100 Ends Higher, Rising From 6-week Low As Ocado, Tobacc..
DJ
06/20LEGAL & GENERAL : L&G aims for 8-10 percent profit growth from fund business
RE
06/19EUROPE MARKETS: European Stocks Finish At 3-week Low As U.S.-China Trade Tens..
DJ
06/19LONDON MARKETS: FTSE 100 Logs 3rd Straight Drop As U.S.-China Trade Fight Int..
DJ
06/19British shares dip as UK corporate woes add to trade war fears
RE
06/19ASHTEAD : full-year profit misses expectations, shares fall
RE
06/18LONDON STOCK EXCHANGE : Oil stocks help FTSE outperform amid trade tensions
RE
06/18EUROPE MARKETS: European Stocks End Lower As Merkel Comes Under Pressure In G..
DJ
More news
News of the components of FTSE 100 INDEX
08:01aSHIRE : Announces FDA Approval for Label Expansion of CINRYZE® for Prevention of..
GL
08:01aCRH PLC : CRH Announces Completion of Ash Grove Acquisition
AC
02:33aHSBC : Transaction in own shares 20 June 2018 - Announcement made to the HK stoc..
PU
02:06aMICRO FOCUS INTERNATIONAL PLC : Pomerantz Law Firm Investigates Claims On Behalf..
AC
01:59aAustralia's Woolworths, BP abandon petrol station deal
RE
01:50aBAE : Aiken County's BAE Systems included in contract for Amphibious Combat Vehi..
AQ
12:47aBP : Russia may become ‘enduring’ supplier of Hydrocarbons – B..
AQ
More news
Chart FTSE 100 INDEX
Duration : Period :
FTSE 100 Index Technical Analysis Chart | F100 | GB0001383545 | 4-Traders
Technical analysis trends FTSE 100 INDEX
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Top / Flop FTSE 100 INDEX
IMPERIAL BRANDS 2705 Delayed Quote.3.20%
SKY 1380 Delayed Quote.3.14%
BT GROUP 214.3 Delayed Quote.2.71%
BRITISH AMERICAN TOBACCO 3779 Delayed Quote.2.38%
JUST EAT 823.2 Delayed Quote.2.06%
HARGREAVES LANSDOWN 1983 Delayed Quote.-1.49%
BARRATT DEVELOPMENTS 538 Delayed Quote.-1.54%
NEXT 5862 Delayed Quote.-2.17%
ROYAL MAIL 498.7 Delayed Quote.-2.67%
BERKELEY 3893 Delayed Quote.-5.90%
Heatmap :