China Stimulus Lifts FTSE 100
2024-09-27
4933
(fxcue news) - The FTSE 100 benchmark of the London Stock Exchange recorded gains of close to half a percent in Friday's trading as the China growth story inspired momentum.
FTSE 100 oscillated between 8,325.32 and 8,283.52 as compared with the previous day's closing level of 8,284.91.
The benchmark index of the London Stock Exchange is currently trading at 8,324.51, having added 0.48 percent on an overnight basis.
In the 100-scrip index, only 21 are trading in the overnight negative zone.
Prudential topped with a surge of 2.8 percent. Croda International and Frasers Group have both rallied more than 2 percent. Easyjet, Convatec Group, Entain, Smith and Nephew as well as BP have gained more than 1.5 percent in the day's trading.
Rightmove and Fresnillo have both slipped more than 1 percent. Relx, Beazley, Rolls Royce Holdings and Intermediate Capital Group have all recorded losses of more than half a percent.
The GBP/USD pair slipped 0.19 percent overnight to 1.3390. The sterling ranged between $1.3420 and $1.3360 in the day's trade. The EUR/GBP pair edged up 0.07 percent to 0.8338. The GBP/JPY pair dropped 1.31 percent to 191.73.
Diverging from the global trend of easing, bond yields in the U.K. hardened in the day's trading. Ten-year bond yields spiked 0.70 percent to 4.0400 percent. The yields ranged between 4.0075 percent and 4.042 percent over the course of the day. The same was at 4.012 percent a day earlier.
The Confederation of British Industry's Distributive Trades report showed the monthly retail sales balance increasing to 4 percent in September, above expectations of a decline of 19 percent and the previous reading of a 27-percent decline.
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