FTSE 100 marking time

• FTSE 100 closed down seven points
• Wall Street mixed at mid-session
• Leisure and hospitality stocks receive some love

5pm: FTSE closes lower

FTSE 100 closed in the red on Tuesday as the positive trader sentiment of yesterday surrounding the UK vaccine roll-out appeared to fade.

The UK’s top share index closed down around seven points, or 0.11%, at 6,748.

Midcap FTSE 250 was also lower, though near flat, as it finished 2.5 points down at 21,416.

Wall Street was closed on Monday for President’s day but US traders were back in the mix today. Stocks were mixed in  New York despite stimulus and business/society reopening hopes. The Dow Jones added around 23 points but the S&P 500 shed nearly five.

“Nevertheless, there is a growing feeling that we are on the cusp of a new phase of this market recovery, with cyclical stocks primed to reflect the economic bounce back due in the coming months,” said Joshua Mahony, senior market analyst at online trading group IG.

The analyst added that tech and manufacturing stocks have fared well so far and it seems likely that Covid laggards will be the next ones to rise as traders seek out value “in anticipation of a reopening phase”.

3.35pm: Fresnillo leads a leisurely retreat as gold price wilts

After a bright start, the trading session has fizzled out in London.

The FTSE 100 was down 13 points (0.2%) at 6,743, with precious metals miner () leading the retreat.

Fresnillo shares are down 3.4% at 989.2p, partly reflecting a 1% fall in the price of gold, although the silver price is holding up well.

Other mining stocks, however, are holding on to the morning’s gains, while steelmaker (), up 1.4% at 542.8p, is benefitting as a fellow traveller.

Among the mid-caps, the generally smooth roll-out of coronavirus vaccines is encouraging some buying interest in travel and hospitality stocks.

Bingo halls and casinos operator PLC (), up 5.9% at 139.4p, is the best mid-cap performer, just ahead of package tours operator (), up 4.8% at 362.6p. A bit further down the FTSE 250 leaderboard, () is 1.8% firmer at 84.2p on the prospect of a return to customers munching overpriced popcorn and slurping costly cola in its cinemas.

3.20pm: Proactive North America headlines:

LiteLink Technologies Inc () () (FRA:C0B0) to acquire an ownership interest in Canadian cryptocurrency exchange CatalX CTS

() (OTCPINK:CBGZF) (FRA:C3J) adds third drill rig to 5,000m program at Cuiú Cuiú project in Brazil

() signs exclusive licenses for rare earth mineral processing and graphene patents from Ohio University

Predictmedix Inc () () notes recent deployment of its screening technology in Tampa Bay, Florida

Ltd () (OTCQX:GTBAF) (FRA:0G6A) celebrates 250-hole milestone at LP Fault with new results of up to 32 grams per ton gold

Inc () (OTCQB:GATGF) hails more near surface, gold mineralization at flagship Larder project in Ontario

INDVR Brands Inc () (OTCMKTS:CAAOF) (FRA:3YX) generates record January sales for its Honu brand in Washington state

Nextech AR Solutions Corp () (NEO:NTAR.NE) (CSE:NTAR) (FRA:N29) beefs up sales team with two top-tier executive hires from Fastly and Salesforce.com

XPhyto Therapeutics Corp () (OTCQB:XPHYF) (FRA:4XT) touts completion of European regulatory application process for rapid coronavirus test

() () on track to reach upper end of fiscal 2021 output guidance as revenue surges 41% in first half

2.45pm: Wall Street opens on the front foot

Wall Street has made a positive start to the post-Presidents Day trading week as the main indices began Tuesday’s session in the green.

In the early minutes of trading, the Dow Jones Industrial Average was up 0.37% at 31,573 while the S&P 500 climbed 0.31% to 3,946 and the Nasdaq rose 0.42% to 14,155.

Despite the positive start for the wider market, software group Palantir Technologies Inc (NYSE:PLTR) was one the back foot in early deals, sliding 5.8% to US$29.96 after it reported a surprise loss in its…