FTSE 100 ends in positive territory; Wall Street reacts to strong jobs data
The UK blue chip index moved higher while Wall Street benefits from better than expected US jobless claims and Bitcoin recovers
- FTSE 100 up 70 points
- US riding higher
- Bitcoin bounces back
5.10pm: Positive morning on Wall Street helps FTSE to the finish
The FTSE 100 ended Thursday up 70 points, 1%, at 7,020, and the FTSE 250 added 157 points, 0.7%, to 22,392.
“What a difference a day makes,” IG Senior Market Analyst Joshua Mahony wrote. “Financial markets have gone from a sea of red to one of overwhelming optimism, with the Nasdaq and DAX leading the charge.”
Speaking of, the US tech-focused exchange was up 207 points, 1.6% to 13,507 at midday. The Dow gained 241 points, 0.7%, to 34,137, and the S&P 500 rose 42 points, 1%, to 4,158.
“The resurgence in Bitcoin has helped bolster Tesla and Coinbase valuations, in turn helping an already positive move for the Nasdaq,” Mahony wrote. “Meanwhile, Elon Musk has finally taken to his Twitter in a constructive manner, with plans to stage a new Tesla Model S Plaid event in June bringing hope of a resurgence for the stock.”
() shares were up more than 2.5% to $577.66 in New York.
Also, unemployment claims came in at 444,000 last week in the US, lower than the 452,000 claims expected.
4pm: Proactive North America headlines:
Q BioMed Inc () hires contract sales force to promote Strontium89 to VA and Military Health System medical centers in US
Marble Financial Inc () () (FRA:2V0) launches GIC Savings Loan with Jenson Graf on its AI-powered MyMarble platform
KULR Technology Group Inc () inks security purchase deal worth up to $13M
ESE Entertainment Inc’s () (OTCQB:ENTEF) a K1CK esports team to compete in $1M Apex Legends Global Series Championship in EMEA region
American Battery Metals Corporation () applies to list its shares on the Nasdaq
NEXE InnovationInc () (OTCMKTS:NEXNF) (FRA:NX5) and Rritual to collaborate on new superfoods products in NEXE compostable pods
Nextleaf Solutions Ltd () () (FRA:L0MA) awarded another US patent for processing method; notes big tobacco and alcohol validating its IP-focused strategy
Loop Insights Inc () () trumpets major pliots and partnerships for its Wallet Pass technology thus far in 2021 in business update
Green Battery Minerals Inc () (OTCMKTS:GBMIF) (FRA:BR2) moving towards preliminary economic assessment on its Berkwood graphite project with new financing
Dalrada Corporation says subsidiary Prakat Solutions will sponsor virtual Global Accessibility Awareness Day event
Ready Set Gold Corp () (OTCPINK:RDYFF) (FRA:0MZ) hits gold mineralization in every hole of phase 1 drilling at its Northshore project in Ontario
Braxia Scientific Corp () (OTCMKTS:SHRMF) (FRA:4960) launches Braxia Institute to advance psychiatric practices and health services for ketamine and psychedelic treatment therapy
Clean Air Metals Inc () () () reveals promising new intercepts from Escape Lake deposit on its Thunder Bay North polymetallic project
NexTech AR Solutions Corp () () () (FRA:N29) unveils LiveX showcase event
Plurilock Security Inc () (OTCQB:PLCKF) cheers President Biden’s executive order to strengthen the country’s cybersecurity defenses
Inc () () (FRA:7LV) in expansion mode with entry into New Brunswick cannabis market
() () () says first phase drilling at Aureus West project, Nova Scotia has “exceeded” expectations
XPhyto Therapeutics’ Corp () () (FRA:4XT) partner Max Pharma to launch sale of Covid-ID Lab test in Germany from May 25
3.57pm: Commodity companies slip back
The better than expected US jobless claims and a revival in Bitcoin seem to be giving markets some support after an uncertain start to the day.
Meanwhile a big miss on the Philadelphia Federal Reserve manufacturing index – down from 50.2 in April to 31.5 in May and below forecasts of 40.5 – also helped, suggesting that the US central bank’s accommodative stance could carry on for longer than some feared.
The FTSE 100 is up 0.48% or…
Read More: FTSE 100 ends in positive territory; Wall Street reacts to strong jobs data