Stock Market News

FTSE indexes supported by positive corporate update

2024.07.18 12:16

(Reuters) – London stocks rose on Thursday amid a raft of mixed corporate earnings, while investors parsed data that showed growth in British wages slowed but remained at levels that would be too high for the Bank of England to keep inflation at its 2% target.

The blue-chip was up 0.8%, set for its best day in two months, if gains hold. The mid-cap gained 0.2%, as of 0709 GMT.

Data showed that average weekly earnings excluding bonuses – a key gauge of inflation pressure for the BoE as it considers whether to cut interest rates next month – grew by 5.7% in a three-month period ended May, compared with a year earlier.

Following the release of the data, money markets raised the odds of an interest rate cut next month at 39.1% from 30%. Consumer prices index figures on Wednesday showed inflation held at 2%, against expectations of 1.9% in June.

Heavyweight energy shares tracked oil prices higher to be among the top gainers in London, with a 1.4% climb. [O/R]

On earnings front, Frasers jumped 7.6% to top the FTSE 100 after the British sportswear and apparel retailer reported a 13.1% rise in annual profit and forecast more growth in its new financial year.

It boosted the retail sector, which gained nearly 1%.

Diploma Plc was the top loser on FTSE 100 with a 3.1% decline after the technical products and services provider kept its full-year outlook unchanged.

Dunelm Group jumped 7.1% to the top of the FTSE 250 after the homewares retailer forecast its annual profit to be slightly higher than market consensus.

© Reuters. FILE PHOTO: LSEG signage is seen on screens in the lobby of the London Stock Exchange in London, Britain, May 14, 2024. REUTERS/Hannah McKay/File Photo

AJ Bell gained 2.9%, after the investment platform reported a 20% rise in its third-quarter assets under administration for its Platform business.

The investment banking and brokerage sector hit its highest levels in more than four years and was trading 1.8% firmer.



Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 98,576.41 0.12%
ethereum
Ethereum (ETH) $ 3,429.60 2.49%
tether
Tether (USDT) $ 1.00 0.06%
solana
Solana (SOL) $ 257.17 0.62%
bnb
BNB (BNB) $ 670.77 0.62%
xrp
XRP (XRP) $ 1.47 5.17%
dogecoin
Dogecoin (DOGE) $ 0.438343 4.96%
usd-coin
USDC (USDC) $ 1.00 0.11%
cardano
Cardano (ADA) $ 1.07 2.09%
staked-ether
Lido Staked Ether (STETH) $ 3,427.58 2.44%
tron
TRON (TRX) $ 0.216641 3.51%
stellar
Stellar (XLM) $ 0.585075 34.46%
avalanche-2
Avalanche (AVAX) $ 42.36 1.62%
the-open-network
Toncoin (TON) $ 6.44 14.08%
shiba-inu
Shiba Inu (SHIB) $ 0.000027 0.44%
wrapped-steth
Wrapped stETH (WSTETH) $ 4,063.50 2.54%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 98,241.32 0.17%
polkadot
Polkadot (DOT) $ 9.10 18.83%
chainlink
Chainlink (LINK) $ 17.80 4.87%
bitcoin-cash
Bitcoin Cash (BCH) $ 513.41 3.22%
weth
WETH (WETH) $ 3,432.31 2.63%
sui
Sui (SUI) $ 3.47 4.36%
pepe
Pepe (PEPE) $ 0.000021 1.78%
near
NEAR Protocol (NEAR) $ 6.67 4.37%
leo-token
LEO Token (LEO) $ 8.68 0.95%
litecoin
Litecoin (LTC) $ 101.82 0.22%
aptos
Aptos (APT) $ 12.95 1.43%
uniswap
Uniswap (UNI) $ 11.12 6.01%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,612.89 2.56%
hedera-hashgraph
Hedera (HBAR) $ 0.152347 1.71%
internet-computer
Internet Computer (ICP) $ 11.70 5.02%
crypto-com-chain
Cronos (CRO) $ 0.198212 3.50%
usds
USDS (USDS) $ 1.00 0.52%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.580002 7.27%
ethereum-classic
Ethereum Classic (ETC) $ 30.29 2.84%
render-token
Render (RENDER) $ 8.10 2.13%
bittensor
Bittensor (TAO) $ 543.11 1.70%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.52 12.48%
kaspa
Kaspa (KAS) $ 0.155344 3.32%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.15%
arbitrum
Arbitrum (ARB) $ 0.886909 7.17%
whitebit
WhiteBIT Coin (WBT) $ 24.76 0.61%
bonk
Bonk (BONK) $ 0.000047 4.80%
filecoin
Filecoin (FIL) $ 5.93 14.42%
vechain
VeChain (VET) $ 0.043951 2.84%
cosmos
Cosmos Hub (ATOM) $ 9.04 13.24%
dai
Dai (DAI) $ 1.00 0.13%
mantra-dao
MANTRA (OM) $ 3.84 1.54%
dogwifcoin
dogwifhat (WIF) $ 3.30 2.36%
okb
OKB (OKB) $ 54.24 9.07%