FTSE 100 Slips As Geopolitics Weighs
2024-11-12
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(fxcue news) - The FTSE 100 benchmark of the London Stock Exchange aligned with the trend in European markets to trade in the red amidst a massive spike in geopolitical concerns. However, the index managed to outperform its European peers.
FTSE 100 oscillated between 8,145.86 and 8,064.84 as compared with the previous day's closing level of 8,109.32.
The benchmark index of the London Stock Exchange is currently trading at 8,080.62, having lost 0.35 percent on an overnight basis.
In the 100-scrip index, only 38 are trading in the overnight positive zone.
Imperial Brands and DCC, both rallied more than 2.5 percent. British Land Co, BT Group and Endeavour Mining have added more than 1 percent.
Diploma tumbled 6.8 percent despite reporting strong financial results. Melrose Industries followed with a decline of 3.8 percent. International Consolidated Airlines, Rolls Royce Holdings and Informa, all declined more than 2 percent.
The GBP/USD pair slipped 0.34 percent overnight to 1.2633. The sterling ranged between $1.2689 and $1.2614 in the day's trade. The EUR/GBP pair is flat at 0.8360. The GBP/JPY pair dropped 0.74 percent to 194.63.
Diverging from the global trend of easing, bond yields in the U.K. spiked in the day's trading. Ten-year bond yields increased 0.24 percent to 4.4765 percent. The yields ranged between 4.431 percent and 4.4945 percent over the course of the day. The same was at 4.466 percent a day earlier.
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