FTSE 100 regains its mojo
Britain’s blue-chip benchmark finished the day nearly 40 points ahead, or 0.53%, at 6,772
- FTSE 100 closes nearly 40 points higher
- US markets in the red
- Big banks on the up
5.30pm: FTSE closes ahead
FTSE 100 closed higher on Tuesday with banking groups doing well.
Britain’s blue-chip benchmark finished the day nearly 40 points ahead, or 0.53%, at 6,772. FTSE 250 added 138 points at 21,574.
On Wall Street, markets were lower as there were little catalysts to inspire traders.
“For yet another day a brief wobble in the FTSE 100 has been bought, providing hope that the index can make up its mind soon about a move above 6800,” said Chris Beauchamp, chief market analyst at online trading group IG, in a note.
“The index has been supported by another bounce for value names such as engineering, travel and miners, along with decent gains for bank stocks. This is exactly the kind of cocktail to provide a foundation for further gains…,” he added.
3.50pm: The Footsie has its mojo working again
The Footsie has rediscovered its mojo, helped by sterling’s weakness.
The index of heavyweight shares is up 36 points (0.5%) at 6,772.
Sterling, meanwhile, is down by two-fifths of a cent at US$1.3722 as US bond yields headed higher.
And, in the midst of all this, the yield on 10-year US government #bonds has risen back to the highs of a couple of weeks ago. #markets #investing #investors pic.twitter.com/xBnx1iOKsh
— Mohamed A. El-Erian (@elerianm) March 30, 2021
Aerospace-related stocks are going well, with British Airways owner International Consolidated Airlines () top of the tree, up 4.8% at 201.5p, while engineers (), PLC () and () were all 2.7% or more higher.
With the gold price down 1.7% or US$29.40 at US$1,685.20, precious metals miner (), down 4.4% at 854p, is friendless.
Gold price remains under strong selling pressure below $1,700 following rise in U.S. consumer confidence https://t.co/HqKbJyxzO5 #kitconews #gold #silver #mining #finance #metals #investing #economics
— Kitco NEWS (@KitcoNewsNOW) March 30, 2021
3pm: Proactive North America headlines:
() () (FRA:M5BQ) sees its 4Q revenue surge 85% to C$7.2M on cannabis product sales
Limited () (NYSEAMERICAN:FURY) (FRA:AUN1) hits high grade mineralization from step out holes at Eau Claire in Quebec
() (OTCQB:VLMGF) (FRA:7VM) kicks off second of three-phase drill program at Silver Cliff
Aurelius Minerals Inc () () () pleased with Aureus West drill results, which extend mineralization outside current inferred resource
Mojave Jane Brands Inc (CSE:JANE) (OTCMKTS:HHPHF) (FRA:0HCN) successfully rebrands to Mojave Brands
(NASDAQ:TLSA, ) shares shoot up after receiving FDA sign-off for nasally administered monoclonal antibody to treat a person with secondary progressive multiple sclerosis
Corp () () (FRA:18P) strikes exclusivity deal with lender over US$45M debt financing for refinery plans
CytoDyn Inc’s () leronlimab decreases mortality by 82% among critically ill coronavirus patients after two weeks in CD12 trial
Limited (NYSEAMERICAN:VNRX) appoints industry veterans Kim Nguyen and Richard Brudnick to its board of directors
Inc () () (FRA:JAM1) gets Health Canada approval to file clinical trial application for ARDS-003 study on coronavirus patients
Ltd () () () initiates study on its AME-1 extract for gut health
Canntab Therapeutics Limited () (OTCQB:CTABF) (FRA:TBF1) receives export license from Health Canada
Corp (TSXV:VOX) (OTCMKTS:VOXCF) to acquire royalty on Bullabulling gold project
2.42pm: Wall Street opens in the red
Wall Street’s main indices opened in the red on Tuesday morning as investors remained cautious amid rising bond yields and the fallout from Archegos Capital.
Shortly after the opening bell, the Dow Jones Industrial Average was down 0.14% at 33,126 while the S&P 500 dropped 0.28% to 3,960 and the Nasdaq fell 0.6% to 12,980.
Stocks are under pressure after yields on 10-year US…
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