FTSE 100 still seeking direction
The UK index of leading shares finished down around four points, or 0.07%, to stand at 6,736
- FTSE 100 closes in red
- Archegos hedge-fund fall-out has little impact
- Zegona the top riser after bid is launched for an associate company
5.30pm: FTSE closes lower
FTSE 100 closed Monday a shade in the red, while US stocks were also lagging.
The UK index of leading shares finished down around four points, or 0.07%, to stand at 6,736. The midcap FTSE 250 lost around 51 points at 21,435.
“UK markets are lagging their mainland European counterparts today, with a strengthening pound doing little to help the FTSE 100,” said Joshua Mahony, senior market analyst at trading firm IG.
The analyst noted that shipping had once again begun in the key Suez canal after the huge ‘Ever Given’ vessel was dislodged after almost a week.
“Energy markets have seen a general lack of direction as traders attempt to assess whether this blockage will make any lasting impact on global crude supply. Meanwhile, rising US 10-year yields have dented confidence in precious metals, with the likes of gold, silver, and palladium all on the back foot today,” said the analyst.
3.30pm: Proactive North America headlines:
BTU Metals Corp () (OTCPINK:BTUMF) starts exploration work on newly-acquired 3,000-hectare land package in Red Lake
CytoDyn Inc () says the Philippines FDA approves the use of leronlimab to treat a COVID-19 patient
KushCo Holdings Inc () pays $17M to retire senior unsecured term debt
PlantX Life Inc () (OTCQB:PLXTF) (FRA:WNT1) outlines green initiatives to reduce company’s carbon footprint
Algernon Pharmaceuticals Inc () () (FRA:AGW) and Betterlife Pharma added to the world’s first psychedelic stock ETF
() joins United Nations Global Compact, kicks off ESG initiative
IpsidyInc () tapped by On The Fly POS for passwordless login and biometric verification services
Hill Street Beverage Company Inc () ()to leverage acquired rights from Lexaria to expand commercial potential
Todos Medical Ltd () completes automation equipment installation and training for its Brooklyn lab client
Ltd () (OTCQB:STTDF) ups summer drill program to 10,000 metres at its Davidson River project after positive initial results
KULR Technology Group Inc () becomes official battery safety provider for electric SUV racing team Andretti United Extreme E
Corp () () (FRA:18P) strikes milestone offtake deal with London-based cobalt trader over future Ontario refinery production
Marble Financial Inc () () (FRA:2V0) closes non-brokered private placement
Ltd () (OTCMKTS:GTBAF) (FRA:0G6A) doubles vertical extent of LP Fault target at Dixie with latest holes
ImagineAR Inc () () (FRA:GMS1) inks partnership with Brazilian soccer team to provide interactive AR experiences for fans
Mind Medicine Inc (MindMed) (), (), (FRA:MMQ) appoints Stanford University neuroscientist as chair of scientific advisory board
Victory Resources Corporation () () (FRA:VR62) hires resource industry veteran Mark Ireton as its new CEO
() (NYSEAMERICAN:MTA) (FRA:X9C) added another 18 royalties to its portfolio in 2020, with five more so far this year
Loop Insights Inc () () inks $2M deal to acquire German digital wallet operator Passcreator inks $2M deal to acquire German digital wallet operator Passcreator
Inc () (FRA:45O) to collaboration with Bambino Gesù Children’s Hospital in Rome on new therapy centre
Inc () (FRA:PFX1) sees 4Q revenue grow by 28% on continued strength from its Services segment
3.25pm: Minnows provide what little excitement there is
London’s leading shares continue to seek direction. Utilities are in favour and that probably tells you all you need to know about the excitement levels.
The FTSE 100 was down 9 points (0.1%) at 6,732.
Traders do not seem overly bothered by the collapse of a US hedge fund that has left and Nomura counting their losses.
“Rather than being seen as a canary in the coal mine, and a sign of impending doom…
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