REFILE-Miners, banks thrust FTSE 100 to sixth day of gains

0
220


(Fixes second bullet point)

* FTSE 100 up 0.3 pct

* FTSE 250 up 0.2 pct

* Footasylum jumps after JD Sports deal

* Hunting up on rating upgrade

March 18 (Reuters) – London’s FTSE 100 extended its rally
from last week with miners doing most of the heavy-lifting
buoyed by higher copper prices as investors awaited U.S. central
bank’s policy meeting, while Footasylum surged after JD Sports’
buyout deal.

The FTSE 100 was up 0.5 percent by 0828 GMT, its
sixth straight session in the positive territory after hopes
that a potentially disruptive no-deal Brexit would be averted
supported it last week.

The more-domestically focussed midcap index, which
was carried to a five-month high in the last session, added 0.3
percent.

Miners were on course for their best day in a
month as copper prices rose again on concerns over supply
tightness. Rio Tinto and BHP gained nearly 2
percent each and led the blue-chip gainers.

Deutsche Bank and Commerzbank
confirming that they were in talks about a merger boosted
financial stocks, which are on a six-day winning
streak as a no-deal Brexit seems to be off the table.

British Prime Minister Theresa May’s government was
scrambling on Sunday to get parliament to back her Brexit deal
which has already been rejected twice by lawmakers.

After parliament backed a move to delay Brexit, May has just
a few days to push her divorce deal through if she wants to go
to a summit with the bloc’s leaders on Thursday with something
to offer them in return for more time.

News-related moves were scarce saving AIM-listed Footasylum
which shot up 74.2 percent to 81 pence, inching near
the 82.5 pence a share offered by larger rival JD Sports
for the sportswear retailer.

Oilfield services provider Hunting jumped 7 percent
on the FTSE 250 index after UBS hiked its rating on stock.
(Reporting by Muvija M and Shashwat Awasthi in Bengaluru
Editing by Keith Weir)

(c) Copyright Thomson Reuters 2019. Click For Restrictions – https://agency.reuters.com/en/copyright.html





Source link

LAISSER UN COMMENTAIRE

Please enter your comment!
Please enter your name here