Daily Banking News

FTSE 100 ends virtually flat despite Rolls-Royce surge, but Wall Street higher

The UK blue chip index couldn’t make headway but US markets have been buoyed by better than expected jobless claims data and unchanged US GDP readings

  • FTSE 100 closes 7 points lower
  • Miners climb on BHP strike
  • US stocks move higher

5.10pm: US markets besting the FTSE thus far

The FTSE 100 ended down 7 points, 0.1%, at 7,020, while the FTSE 250 added 19 points, less than 0.1%, to 22,659.

“Another largely uninspiring day on the markets today, with European markets stuck in neutral gear waiting for a fresh driver of sentiment,” IG Senior Market Analyst Joshua Mahony wrote. “With the VIX closing in on levels not seen since the pandemic began, there is undoubtably a lack of any particular conviction despite ongoing improvements in the US economic front. 

“A sharp pop in commodity prices have helped lift the FTSE miners, with copper in particular sparking into life after a fortnight of losses,” he added.

In the US, the Dow was up 140 points, 0.4%, at midday. The Nasdaq added 28 points, 0.2%, to 13,766, and the S&P 500 improved 13 points, 0.3%, to 4,209.

3.52pm: Aerospace engineers hold on to gains

Despite a positive start on Wall Street, the FTSE 100 is barely hanging on to any gains.

The leading index is currently up just 0.33 points at 7027.26..

Aerospace engineers continue to be among the major risers following Airbus saying it planned to boost production of its A320 aircraft as the sector recovers.

So Rolls-Royce PLC () has climbed 4.99% to 108.18p while () is up 4.24% to 170.75p. 

Insurer () is 3.3% better at 412.8p following its well-received results.

But () is down 3.27% to 3047p after full year profits fell 22% and despite the company saying the current year has started well.

Elsewhere PLC () is down 2.69% at 168p following a Bloomberg report that the £165mln it has set aside to repair potentially unsafe legacy developments may not be enough. 

In the US, the day’s positive economic data has seen the Dow Jones Industrial Average add 203 points or 0.5% while the S&P 500 is 0.4% better and the Nasdaq Composite has climbed 0.23%.

Charles Hepworth, investment director at GAM Investments, said: ” The.. ‘goldilocks’ recovery of not too fast and not too slow is the ideal that Fed officials (and the markets) are hoping for and these prints just about conform to this.”

3.10pm: Proactive North America headlines:

Golden Tag Resources Ltd () () discovers new zone of epithermal mineralization at its San Diego silver project in Mexico

() partners with wind turbine tech company FlowGen for efficient renewable energy generation

() () fiscal 3Q revenue jumps 27% on animation studio production and more

LLC announces the 33 winners from local health agencies for NACCHO’s 2021 Innovative Practice Award

Corp () shares update on busy period for its portfolio of royalty assets

KULR Technology Group Inc () says United States Patent and Trademark Office has awarded it a patent on its Thermal Runaway Shield

() (OTCMKTS:FWEDF) (FRA:20F) poised for borehole muon tomography survey this summer at Macmillan Pass zinc project

PlantX Life Inc () () () closes its acquisition of US-based bodega New Deli

() () appoints Jennifer Prince, Global VP and Head of Content Partnerships for Twitter to its board of directors

Ltd () (OTCQX:OGGFF) () says newly acquired Future of Cheese scaling up R&D to accelerate advancements in its plant-based, dairy-comparable proteins

(NEO:GRAM) () assembles ‘powerhouse group of thought leaders’ to advise its corporate venture social equity initiative

(NYSEAMERICAN:AIM) (FRA:HXB2) extends pact with Shenzhen Smoore Technology to develop Ampligen as inhalation therapy for coronavirus, other respiratory diseases

Wellness Inc () () (FRA:8OO) sponsors bobsleigh champion Kaillie Humphries in her quest for more Olympic gold

() (OTCQX:NTTHF) discovers new deep brine aquifer outside of the resource area on 3Q project in Argentina

() (OTCPINK:RFHRF) (FRA:9RR) releases…

Read More: FTSE 100 ends virtually flat despite Rolls-Royce surge, but Wall Street higher

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