Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Markets

News : Markets
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 

London's FTSE 100 subdued, IWG lifts midcaps

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/15/2019 | 12:38pm EDT
A financial trader works at their desk at CMC Markets in the City of London

(Reuters) - Britain's FTSE 100 was at a loss for direction on Monday as a dip in miners and oil majors offset gains in bank stocks, while office group IWG pushed midcaps higher after announcing an asset sale.

The blue-chip index ended a lacklustre session about flat, lagging its European peers, while the FTSE 250 held on to its six-month high with a 0.5 percent rise as a stronger pound also aided.

The pound's gains followed upbeat comments from Britain's foreign minister Jeremy Hunt on talks between the government and the opposition Labour Party to find a consensus over Brexit.

Miners, which last week scaled seven-year highs, handed back some of those gains with a 1.5 percent fall, despite a rise in copper prices as data from China showed higher unwrought copper imports in March.

Supply concerns and hopes of a U.S.-China trade resolution also supported metal prices.

CMC Markets analyst David Madden said there did not appear to be any major shift in sentiment and investors seemed to take their profits out of metal stocks.

Shell and BP extended losses following a dip in oil prices.

Financial stocks jumped to a six-month high, bolstered by a read-across from last week's upbeat results from U.S. bellwethers JP Morgan and Wells Fargo, and strong bank loan data from China.

But the sectoral index pared some gains as quarterly revenues reported by U.S. big banks Goldman Sachs and Citigroup fell below Wall Street expectations on Monday.

"Traders will be keeping a close eye on ... whether the strong start (to U.S. earnings) is able to continue beyond the banking sector ... right now this is looking unlikely," London Capital Group analyst Jasper Lawler said.

Compass Group, the world's biggest catering firm, slipped 2.2 percent on its worst day in six months after a Barclays rating cut.

Midcaps saw some strong news-related moves.

Serviced office space provider IWG surged 21.1 percent to a two-year high after plans to sell its Japanese operations for 320 million pounds and a double upgrade from Credit Suisse on the stock.

After being pummelled last week on U.S. charges over opioid prescriptions, drugmaker Indivior enjoyed its best day in three years as brokerage Bernstein suggested that the $3 billion headline fine had the potential to be reduced.

Shares in Indivior jumped 19.1 percent on the prospect.

Mediterranean-focused Energean Oil & Gas jumped 8.5 percent to a record high after announcing a new gas discovery at the Karish North exploration well.

Builder Kier added nearly 8 percent as it said its newly appointed CEO planned to cut debt and respond to problems affecting the outsourcing industry.

(Reporting by Yadarisa Shabong and Muvija M in Bengaluru, additional reporting by Samantha Machado; Editing by Robin Pomeroy)

By Muvija M

Stocks mentioned in the article
ChangeLast1st jan.
ACACIA MINING -8.02% 148 Delayed Quote.-12.22%
ASTRAZENECA -0.32% 5889 Delayed Quote.0.60%
BARCLAYS PLC -3.59% 160.4 Delayed Quote.10.54%
BP PLC -0.16% 569.3 Delayed Quote.14.97%
ENERGEAN OIL & GAS PLC 0.61% 830 Delayed Quote.31.31%
FTSE 100 INDEX 0.28% 7234.11 End-of-day quote.0.00%
GLAXOSMITHKLINE 0.96% 1555.2 Delayed Quote.3.30%
INDIVIOR -5.84% 40.49 Delayed Quote.-61.73%
IWG - INTERNATIONAL WORKPLACE GROUP 0.84% 340.9 Delayed Quote.63.83%
KIER GROUP PLC 0.17% 349.2 Delayed Quote.-14.56%
LLOYDS BANKING GROUP -1.78% 63.61 Delayed Quote.24.90%
PETRA DIAMONDS LIMITED 10.96% 20.14 Delayed Quote.-51.83%
PRUDENTIAL PLC -0.88% 1749.5 Delayed Quote.25.89%
RECKITT BENCKISER 1.31% 6120 Delayed Quote.0.47%
ROBERT WALTERS PLC -1.39% 568 Delayed Quote.4.73%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Markets"
01:11pMARKET SNAPSHOT: Dow Bucks Positive Trend To Slide As 3M Slashes Guidance, Announces Job Cuts
DJ
12:53pDow Industrials Fall as 3M Stumbles
DJ
12:17pLONDON STOCK EXCHANGE : Sainsbury's drags FTSE 100 lower, Taylor Wimpey warning knocks housebuilders
RE
11:27aWorld stocks slip as growth fears linger; euro slides
RE
11:22aWorld stocks slip as growth fears linger; euro slides
RE
11:22aWorld stocks slip as growth fears linger; euro slides
RE
10:30aTSX drops on weak Bombardier outlook, BoC's growth forecast cut
RE
10:25aASIA MARKETS: Asia Markets Fall As South Korea Posts Weakest GDP Since Financial Crisis
DJ
10:16aDow Industrials Slide as 3M Stumbles
DJ
10:02aTSX : Bombardier shares plunge after full-year forecast cut
RE
Latest news "Markets"
Advertisement