FTSE 100 Rises Ahead Of Key Economic Data
2024-08-08
3652
(fxcue news) - The FTSE 100 benchmark of the London Stock Exchange is trading firmly above the flatline amidst cautious optimism ahead of the release of employment data on Tuesday, inflation reading on Wednesday, GDP data on Thursday and the retail sales measure on Friday. Corporate earning updates also supported sentiment.
FTSE 100 oscillated between 8,184.45 and 8,223.90 as compared with the previous day's closing level of 8,168.10.
The benchmark index of the London Stock Exchange is currently trading at 8,199.51, having added 0.38 percent on an overnight basis.
In the 100-scrip index, more than 70 are trading in the overnight positive zone.
U.K. telecom giant BT Group jumped more than 6.5 percent amidst reports of Indian telecom giant Bharti Global, the international arm of Bharti Enterprises, agreeing to buy a stake of 24.5 percent.
Centrica followed with gains of 2.4 percent. Entain, Standard Chartered, BAE Systems and Diploma, all rallied more than 1.5 percent in the day's trading.
JD Sports Fashion slipped close to 4 percent. B&M European Value Retail, Hikma Pharmaceuticals and Frasers Group, all slipped more than 1 percent in the day's trading.
The GBP/USD pair edged up 0.07 percent overnight to 1.2767. The sterling ranged between $1.2747 and $1.2782 in the day's trade.
Bond yields in the U.K. hardened more than a percent in line with the global trend. Ten-year bond yields spiked 1.08 percent to 3.9895 percent. The yields ranged between 3.9785 percent and 4.005 percent over the course of the day. The same was at 3.947 percent a day earlier.
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