FTSE 100 Firm Amidst Resilience Of U.S. Banking Sector
(RTTNews) - FTSE 100 of the London Stock Exchange gained, buoyed by the recent positive earnings updates from the U.S. banking sector that emerged unscathed from the recent turmoil. Hopes of positive economic data updates from China also supported sentiment.
FTSE 100 oscillated between 7,898.90 and 7,916.03 versus the previous day's closing level of 7,871.91.
The benchmark index of the London Stock Exchange is currently trading at 7,903.06, up 0.40 percent on an overnight basis.
In the 100-scrip index, only 33 are trading in the overnight red zone.
International Consolidated Airlines Group gained 2.6 percent. BP, Smurfit Kappa Group, Smith DS, Tesco, RS Group and Ocado Group, all gained more than 1.5 percent.
Melrose Industries, Segro, ABRDN, St James's Place, Barclays, Admiral Group and Prudential, all dropped more than 1 percent.
Expectations of further rate hikes by the Fed shifted sentiment in favor of the greenback, dragging the GBP/USD pair to 1.2405, down 0.06 percent on an overnight basis. The Dollar Index meanwhile increased 0.15 percent to 101.71.
Yields on U.K.'s ten-year bonds rose 0.60 percent to 3.6840% from the previous close of 3.662%.
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