FTSE 100 Reflects Cautious Sentiment
2024-10-27
3729
(fxcue news) - The FTSE 100 benchmark of the London Stock Exchange recorded losses of close to a quarter percent in Friday's trading amidst mixed earnings updates and caution ahead of the upcoming budget of the new government on October 30.
FTSE 100 oscillated between 8,278.11 and 8,246.23 as compared with the previous day's closing level of 8,269.38.
The benchmark index of the London Stock Exchange is currently trading at 8,249.82, having lost 0.24 percent on an overnight basis.
In the 100-scrip index, only 29 are trading in the overnight positive zone.
Natwest Group jumped 3.5 percent amidst a positive earnings surprise. Schroders, Howden Joinery Group, Rolls-Royce Holdings and Ashtead Group have gained more than 0.75 percent.
Airtel Africa tumbled 5.6 percent. Lloyds Banking Group and Smith & Nephew, both lost more than 3 percent. Intertek Group has declined more than 2 percent.
The GBP/USD pair gained 0.09 percent overnight to 1.2983. The sterling ranged between $1.2990 and $1.2956 in the day's trade. The EUR/GBP pair edged down 0.09 percent to 0.8336. The GBP/JPY pair added 0.11 percent to 197.24.
Converging with the global trend of hardening, bond yields in the U.K. spiked in the day's trading. Ten-year bond yields increased 0.76 percent to 4.2700 percent ahead of the new Labour government's first budget next week. The yields ranged between 4.2735 percent and 4.2460 percent over the course of the day amidst fears of additional govt borrowing. The same was at 4.2380 percent a day earlier.
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