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  >  Indexes & Markets

News : Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 

FTSE 100 gains, MPs votes on Brexit process eyed

share with twitter share with LinkedIn share with facebook
03/27/2019 | 01:49pm EDT
FILE PHOTO: The London Stock Exchange offices in the City of London, Britain

(Reuters) - Financials and mining stocks supported the British blue-chip index on Wednesday as investors awaited indicative votes on a series of alternate Brexit options in parliament, while midcap Bellway's upbeat first-half boosted housebuilders.

The FTSE 100 edged 0.1 percent higher and the FTSE 250, which is more domestically focussed, was up by 0.6 percent at 0940 GMT.

Barclays, Royal Bank of Scotland and Lloyds were all higher with CMC Markets analyst Michael Hewson attributing gains to hopes that MPs could agree a possible next course of action which could lead to a softer Brexit.

That, and strong half-year results from midcap homebuilder Bellway, sparked gains in housebuilders, which are considered to be particularly Brexit-sensitive.

Persimmon, Barratt and Taylor Wimpey were among the biggest risers on the main bourse.

Prime Minister Theresa May is also set to address her Conservative MPs, possibly to set out a timetable for her departure to win parliamentary support for her controversial Brexit deal after being heavily defeated twice in parliament.

Sterling lost ground amid all the Brexit uncertainty.

"Time is running out though and without parliament coalescing around a majority view, the default is still no-deal," said Neil Wilson, Markets.com analyst.

But companies with a greater exposure to China including HSBC and Burberry advanced in early deals, while miners also rose as most base metals were higher with investors focussing on tight inventories and the resumption of U.S.-Sino trade talks.

Struggling department store chain Debenhams surged more than 50 percent to 3.7 pence, below the 5 pence a share possible buyout offer from Mike Ashley's Sports Direct. Sports Direct gained nearly 3 percent.

"Mike Ashley has clearly decided it’s double rather than quits on Debenhams. The potential 5p offer would be a generous one for shareholders, but it comes with strings attached for Debenhams, in particular appointing Mike Ashley as CEO," Laith Khalaf, Hargreaves Lansdown analyst, said.

Among midcaps, cyber security firm Avast slipped 5 percent after a heavily discounted share sale while Georgian lender TBC Bank slumped 7 percent.

Bellway rose 2.3 percent after saying trading in the first six weeks since the start of February has been strong as it reported a rise in first-half earnings and hiked dividend.

Meat packaging firm Hilton Food added nearly 2 percent after it reported higher annual earnings and said it believed it was "sufficiently resilient" to withstand the Brexit uncertainties.

(Reporting by Muvija M and Yadarisa Shabong in Bengaluru; Editing by Keith Weir and Alexandra Hudson)


Stocks mentioned in the article
ChangeLast1st jan.
AVAST PLC 1.23% 501.5 Delayed Quote.10.76%
BARCLAYS PLC -0.91% 110.52 Delayed Quote.-38.48%
BARRATT DEVELOPMENTS PLC -2.66% 526 Delayed Quote.-29.55%
BASE CO., LTD. -5.08% 6170 End-of-day quote.128.24%
BASE,INC. -5.12% 11860 End-of-day quote.575.78%
BELLWAY P.L.C. -2.94% 2473 Delayed Quote.-35.04%
BURBERRY GROUP PLC -4.87% 1415.5 Delayed Quote.-35.81%
EURO / BRITISH POUND (EUR/GBP) -0.02% 0.90693 Delayed Quote.7.59%
FEEDER CATTLE?FUTURES (GF) - CMG (ELECTRONIC)/C1 0.17% 133.925 End-of-day quote.-8.12%
HILTON FOOD GROUP PLC -1.83% 1182 Delayed Quote.6.68%
HSBC HOLDINGS PLC -0.64% 319.35 Delayed Quote.-46.05%
LIVE CATTLE (LE) - CMG (ELECTRONIC)/C1 0.19% 104.175 End-of-day quote.-16.62%
LLOYDS BANKING GROUP PLC -0.80% 29.05 Delayed Quote.-53.52%
NATWEST GROUP PLC -0.61% 122.05 Delayed Quote.-49.21%
PERSIMMON PLC -3.01% 2515 Delayed Quote.-6.68%
RISE, INC. 0.00% 26 End-of-day quote.-13.33%
SET -0.46% 1207.97 Real-time Quote.-23.54%
SPORTS DIRECT INTERNATIONAL 4.59% 392.2 Delayed Quote.-14.48%
TAYLOR WIMPEY PLC -3.22% 115.55 Delayed Quote.-40.25%
TBC BANK GROUP PLC -0.62% 960 Delayed Quote.-26.15%
THE LEAD CO., INC. -2.13% 367 End-of-day quote.-5.90%
VIEL & CIE 0.00% 5.2 Real-time Quote.10.64%
share with twitter share with LinkedIn share with facebook
Latest news "Markets"
05:24pWALL STREET STOCK EXCHANGE : Stocks Slide on Coronavirus Uptick, Fading Stimulus Hopes
DJ
05:17pTSX falls 1.38% to†16,079.55
RE
04:24pWALL STREET STOCK EXCHANGE : Stocks Slide on Coronavirus Uptick, Fading Stimulus Hopes
DJ
03:56pTrouble for markets, if tech earnings disappoint: Kramer
RE
03:23pWALL STREET STOCK EXCHANGE : Stocks Slide on Coronavirus Uptick, Fading Stimulus Hopes
DJ
02:05pWALL STREET STOCK EXCHANGE : Stocks Slide on Coronavirus Uptick, Fading Stimulus Hopes
DJ
01:48pWALL STREET STOCK EXCHANGE : Stocks Slide on Coronavirus Uptick, Fading Stimulus Hopes
DJ
12:06pWALL STREET STOCK EXCHANGE : Stocks Drop on Coronavirus Uptick, Fading Stimulus Hopes
DJ
11:29aWALL STREET STOCK EXCHANGE : Stocks Drop on Coronavirus Uptick, Fading Stimulus Hopes
DJ
10:19aWALL STREET STOCK EXCHANGE : Stocks Drop on Coronavirus Uptick, Fading Stimulus Hopes
DJ
Latest news "Markets"