Daily Banking News

FTSE 100 trims gains again before the close; Wall Street enjoying strong end to

  • FTSE 100 up 21 points
  • French energy giant Total to rebrand
  • Positive day for US stocks

5.10pm: Footsie ends on the right side of the ledger, albeit barely

The FTSE 250 ended Friday up 3 points at 7,023, and the FTSE 250 added 25 points, 0.1%, to finish at 22,684.

Stock markets are on the up on the final day of the week, with a muted performance from the FTSE 100 outpaced by better returns on Wall Street and in continental Europe,” IG Chief Market Analyst Chris Beauchamp wrote. “With May all but over apart from next Monday, likely to be a dull day indeed, the month is ending on a positive note, as strong momentum continues to carry markets higher while investors learn to acclimatise to an environment of higher inflation.”

In the US, the Dow was up 120 points, 0.4%, to 34,584 at midday. The Nasdaq improved 76 points, 0.6%, to 13,812, and the S&P 500 added 16 points, 0.4%, to 4,217.

Shares of salesforce.com inc () are up more than 13% to $239.05 after the company posted first quarter revenue and earnings that beat Street expectations. 

3.40pm: Total announces rebranding with heavy focus on renewables in transformational week for Big Oil

The FTSE 100 trimmed its gains again before close and was up 21 points to 7,041.

French energy giant Total has announced plans to rebrand as TotalEnergies with a heavy focus on renewables.

Shareholders voted in favour of the move and of the group’s environmental plans.

“We want to become a sort of green energy major,” chief executive Patrick Pouyanné was reported as saying by the BBC.

It’s been a transformational week for Big Oil: () received a shock defeat in a Dutch court, which ruled the oil major’s own plans to become a net-zero carbon emissions company by 2050 were too slow.

Shell will appeal the decision but if it loses will have to reduce its emissions by 45% between 2019 and 2030 compared to its own plans for a 20% reduction.

ExxonMobil also saw a heated AGM where activist fund Engine No.1 managed to push out some directors to move strategy away from fossil fuels.

Meanwhile, Chevron shareholders voted in favour of a proposal for the company to target reduction in the emissions created by its customers (rather than just those resulting from its own operations).

2.50pm: Proactive North America headlines:

() ()shares climb after Canaccord bumps price target to C$5.50

PlantX Life Inc () () () enters into charitable partnership with the Squamish Food Bank

Inc () soars again as raiders squeeze short sellers

() () (FRA:4021) anticipates ‘significant sales growth’ in the third and fourth quarters of 2021

Harvest One Cannabis () (OTCQB:HRVOF) sees strong fiscal 3Q operating performance and revenue as it controls costs

Empower Clinics Inc () () (FRA:8EC)  accelerates clinic expansion strategy with two more location leases signed

Inc () () (FRA:7GU) announces drilling program at Mutanga Uranium Project in Zambia

Micro Systems Inc () () appoints Bin Hilal Enterprises as its representative in the key Middle East market of the United Arab Emirates

Plurilock Security Inc () (OTCQB:PLCKF) receives software license order from a US pharmaceutical manufacturer

() (OTCQB:PLNHF) sees revenue swell as tourists flock back to its Las Vegas cannabis SuperStore

ImagineAR () () selected as a presenting startup finalist at DEC Association Tech Day on June 2

Corp () outlines exploration plans at Golden Trend project ahead of scout drilling in third or fourth quarter

() (OTCMKTS:SOHFF) (FRA:TSGN) posts ‘strong’ first quarter amid lower costs and increased metals prices

Corporation () (OTCQB:SSYRF) (FRA:4E7) says renowned resources investor Eric Sprott is increasing his ownership in its Gander Gold subsidiary to 17.35%

2.40pm: Wall Street opens in the green

The main indices on Wall Street moved higher on Friday morning as traders awaited more details on the expected US$6 trillion spending plans from the Biden administration.


Read More: FTSE 100 trims gains again before the close; Wall Street enjoying strong end to

Get real time updates directly on you device, subscribe now.

Notify of
Inline Feedbacks
View all comments

Get more stuff like this
in your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.