Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Markets

News : Markets
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 

Trade hopes, pound dip pull FTSE 100 out of red

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/26/2019 | 12:20pm EST
A broker looks at financial information on computer screens on the IG Index trading floor

London's FTSE 100 eked out gains despite an 8% slide in catering firm Compass Group on growing hopes of a U.S.-China trade resolution, while gains in LSE after shareholder approval for its Refinitiv deal and a weaker sterling also provided support.

The blue-chip index added 0.1%, while a 16% surge in pet supplies retailer Pets at Home after upbeat profit forecast helped mid-cap stocks outperform and close up 0.8% at its highest level in nearly 15 months.

The FTSE 250 index was outperforming the UK blue-chips as well as the broader European benchmark, even as the pound fell after polls showed the Conservative Party's lead was narrowing before the December election.

Traders are buying into domestically-focused shares as they still believe the Conservatives will win a majority next month, which could potentially put an end to Brexit delays, CMC Markets analyst David Madden said.

The recent gains have placed the midcap index on course for its best yearly performance since 2014.

On the main board, however, Compass recorded its worst day in over a decade after the company said deteriorating business and consumer confidence hit performance in Europe.

Shares of London Stock Exchange climbed 2.1% after its shareholders overwhelmingly backed its $27 billion takeover of data and analytics company Refinitiv.

Thomson Reuters, the parent company of Reuters News, holds a 45% stake in Refinitiv.

The blue-chip bourse still took home its third consecutive session of gains as hopes that the United States and China could yet sign a "phase one" trade deal gained traction after top negotiators from both countries held a phone call to try and hammer out some details.

OANDA analyst Craig Erlam said markets were clinging to every headline that emanates on the trade front, amid a lack of major day-to-day updates.

"The details of the call were lacking, but the language used was promising...as long as that remains the case, investors will be optimistic of a deal," Erlam said.

Small-cap De La Rue, which last month hit its lowest level in over two decades following a profit warning, plummeted 24% after it raised going concern doubts and scrapped its dividend.

"De La Rue is teetering on the brink," Markets.com analyst Neil Wilson said. "Today's update is worrying for investors because it suggests there's more damage out there to be done to the shares."

By Shashwat Awasthi and Muvija M

Stocks mentioned in the article
ChangeLast1st jan.
COMPASS GROUP PLC -1.41% 1886 Delayed Quote.1.19%
DE LA RUE PLC -0.67% 148.2 Delayed Quote.4.78%
FTSE 100 INDEX 0.28% 7234.11 End-of-day quote.0.00%
LONDON STOCK EXCHANGE PLC -1.08% 7900 Delayed Quote.3.05%
THOMSON REUTERS CORPORATION 0.37% 103.5 Delayed Quote.11.42%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Markets"
04:08aLONDON STOCK EXCHANGE : FTSE 100 dips again as China virus curbs risk-taking
RE
03:35aChinese Stocks Slide After Wuhan Lockdown Begins
DJ
03:29aEUROPE : Virus concerns weigh on European stocks ahead of ECB policy decision
RE
01:16aSteep losses in China stocks hit Asia, oil tumbles as virus fears grow
RE
01:15aSteep losses in China stocks hit Asia, oil tumbles as virus fears grow
RE
01/22SOUTHEAST ASIA STOCKS : Most subdued ahead of holidays, Philippines gains 1%
RE
01/22Stocks edge up, oil drops as China virus worries abate
RE
01/22WALL STREET STOCK EXCHANGE : Oil slides 2% as glut forecast, China virus overshadow Libya disruption
RE
01/22Global stocks edge up, oil drops as China virus worries abate
RE
01/22Stocks edge up as China virus worries abate; oil drops
RE
Latest news "Markets"