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 Heads For A Win, Even As China Warning Drags Down Miners

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/07/2017 | 10:58am CEST

By Carla Mozee, MarketWatch

Pound stays under pressure, helping stocks, as May scrambles to nail Brexit issue

U.K. stocks edged higher Thursday, aided by a fall for the pound that has been driven by worries over the progress of Brexit negotiations, especially about whether Prime Minister Theresa May can bring warring allies into line over what should come next.

But mining shares dragged on London's blue-chip benchmark, after a warning that Chinese banks may not have enough capital to weather potential losses.

Deal news was brewing in the betting industry, sending shares of Ladbrokes Coral PLC and William Hill PLC higher in the mid-cap market.

What markets are doing: The FTSE 100 index was up 0.1% at 7,352.36, with tech, industrial and consumer goods shares moving higher. But the basic materials, telecom and oil and gas groups were in the red. On Wednesday, the benchmark rose 0.3%, and a win Thursday would be its second in a row.

The pound traded at $1.3373, down from $1.3394 late Wednesday in New York. Against the euro, sterling bought EUR1.1339, down from EUR1.1353.

What's moving markets: The International Monetary Fund has called for banks in China to bump up their capital buffers in the wake of a credit boom in the world's second-largest economy. In a review of China's financial system, the IMF said lenders may not have enough capital to weather potential losses from those credit risks.

Mining stocks in the U.K. can be sensitive to developments in China, where companies are big buyers of precious and industrial metals.

Closer to home, worries over the progress of Brexit negotiations and in particular the chances for a deal on the Irish border issue have been weighing on the pound and aiding stocks. A weaker pound can help shares of exporters on the FTSE 100, as it boosts the value of foreign sales. Around 75% of revenue for the index's components are generated overseas.

Investors are focused on whether the U.K. can nail a deal on the Irish border, the last of three Brexit issues that have to be resolved before Friday, a deadline set by lead EU negotiator Michel Barnier (https://www.theguardian.com/politics/2017/dec/06/uk-has-48-hours-to-agree-potential-deal-or-brexit-talks-cannot-progress). EU leaders are meeting Dec. 14-15 in Brussels, where they will assess whether sufficient progress in the U.K. withdrawal talks to move onto the next stage of trade and transition arrangements.

U.K. Prime Minister Theresa May is working on a new proposal for the Irish border that she will present by Thursday, Ireland's Prime Minister Leo Varadkar said, according to media reports. A dispute with May's Northern Ireland political allies over the issue of whether to have a "hard" or "soft" border scuttled a potential deal on Monday.

Stock movers: In the basic materials sector, which makes up a roughly 8% weighting on the FTSE 100, shares of Rio Tinto PLC (>> Rio Tinto plc) (>> Rio Tinto plc) (>> Rio Tinto plc) fell 1%, Anglo American PLC (>> Anglo American) lost 0.7%, Fresnillo PLC (>> Fresnillo) gave up 0.3%, and BHP Billiton PLC (>> BHP Billiton Plc) (>> BHP Billiton Limited) (>> BHP Billiton Limited) moved 0.2% lower.

Topping the FTSE 100, broadcaster Sky PLC (>> Sky) rose 2.2%. CNBC reported this week that Sky stakeholder 21st Century Fox Inc. (>> 21st Century Fox) is closing in on a deal to sell some assets to Walt Disney Co. (>> Walt Disney Company (The)) .

Ladbrokes Coral Group PLC (LCL.LN) surged 26% on the mid-cap FTSE 250 index as the bookmaker is in GBP3.9 billion takeover talks with GVC Holdings PLC (>> GVC Holdings)

William Hill PLC (>> William Hill) shares climbed 2% as that bookmaker agreed to support Scientific Games Corp.'s (>> Scientific Games Corp) proposed acquisition of NYX Gaming Group Ltd. (>> NYX Gaming Group Ltd) . As part of the agreement, William Hill plans to sell the 6.8 million NYX ordinary shares it owns to Scientific Games.

Other advancers on the FTSE 100 include equipment rental company Ashtead Group PLC (>> Ashtead Group) and building materials company CRH PLC , which were up 1.4% and 1%, respectively.

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on FTSE 100 INDEX
07/13FTSE : off highs as sterling boost softens
RE
07/13EUROPE MARKETS: European Stocks Book Small Gains As Focus Turns To Earnings
DJ
07/13LONDON MARKETS: FTSE 100 Pares Gain As Trump Backtracks On Brexit Criticism
DJ
07/12LONDON MARKETS: U.K. Stocks Log Fifth Win In Past 6 Sessions As Brexit Bluepr..
DJ
07/12LONDON STOCK EXCHANGE : FTSE 100 recovers, driven by defensives, as trade nerves..
RE
07/12Top Unilever Shareholder Expresses Concern Over HQ Move -FT
DJ
07/12Comcast Corporation RECOMMENDED INCREASED CASH OFFER FOR SKY
DJ
07/11FTSE : 100 miners, energy stocks slide on new U.S. tariff list
RE
07/11LONDON MARKETS: FTSE 100 Suffers Worst Day In 2 Weeks As U.S.-China Trade Cla..
DJ
07/11Burberry gears up for major new collection
RE
More news
News of the components of FTSE 100 INDEX
08:26aHARGREAVES LANSDOWN : FCA proposes actions in funds platform sector
RE
08:21aBARCLAYS : Form 8.3 - VEDANTA RESOURCES PLC - AMENDMENT
PU
08:21aBARCLAYS : Form 8.3 - TAKEDA PHARMACEUTICAL CO LTD - AMENDMENT
PU
08:16aSHIRE : Form 8.3 - SHIRE PLC - AMENDMENT
PU
08:16aSHIRE : Form 8.3 - Shire Plc
PU
08:16aSHIRE : Form 8.3 - Takeda Pharmaceutical Company Limited
PU
08:16aSHIRE PLC SHIRE PLC : Rule 2.9 Announcement
DJ
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
MICRO FOCUS INTERNATIONAL PLC 1278.5 Delayed Quote.4.67%
DCC PLC 7155 Delayed Quote.3.70%
BURBERRY GROUP 2108 Delayed Quote.2.53%
JOHNSON MATTHEY PLC 3665 Delayed Quote.2.37%
EVRAZ 522 Delayed Quote.2.03%
FRESNILLO 1097 Delayed Quote.-0.95%
THE SAGE GROUP PLC 619.4 Delayed Quote.-0.96%
WHITBREAD 4000 Delayed Quote.-0.99%
IMPERIAL BRANDS 2869 Delayed Quote.-1.15%
RANDGOLD RESOURCES 5480 Delayed Quote.-1.65%
Heatmap :