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FTSE 100 Rallies Led By Oil And Mining Stocks
(RTTNews) - U.K. stocks rose on Friday as a weaker dollar on Fed pause hopes and easing U.S. debt default worries boosted commodity prices.
The benchmark FTSE 100 was up 65 points, or 0.9 percent, at 7,555 after closing 0.6 percent higher on Thursday.
Higher copper prices lifted miners, with Anglo American, Antofagasta and Glencore surging 4-6 percent.
Oil & gas firm BP Plc rallied 2.2 percent and Shell added 1.5 percent as oil extended overnight gains, heading into the June 4 OPEC+ policy meeting.
NatWest was little changed after reducing its stake in Ireland's Permanent TSB.
Dechra Pharmaceuticals soared 8.3 percent after it has agreed to be taken over in a £4.46bn deal.
PayPoint, an ecommerce services provider, climbed 6.6 percent after reiterating its guidance for the full year.
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Swiss Market Shrugs Off Weak Start, Ends On Firm Note
After opening weak and remaining subdued till noon, Swiss stocks found some support and kept edging higher on Thursday, and finally ended the day's session on a firm note.
Data showing a strong pace of expansion of the Swiss economy in the first quarter of this year aided sentiment.
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1h 51min ago
Major European Markets Recover After Early Setback, Close On Firm Note
Despite an early struggle, the major European markets turned in fairly steady performance as the session progressed on Thursday to eventually close on a firm note. Easing concerns about tariffs and U.S. inflation, and some encouraging regional economic data helped underpin sentiment.
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2h 9min ago
U.S. Business Inventories Inch Up Slightly Less Than Expected In March
The Commerce Department released a report on Thursday showing a slight increase by U.S. business inventories in the month of March. The report said business inventories crept up by 0.1 percent in March after rising by 0.2 percent in February. Economists had expected business inventories to rise by another 0.2 percent.
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3h 24min ago
TSX Rises For 8th Straight Session, Looks Set To Scale New Peak
The Canadian market is up in positive territory, extending gains to an eighth straight session, as the undertone continues to remain firm amid easing concerns about tariffs, and the recent data showing a smaller than expected increase in U.S. consumer price inflation in the month of April.
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3h 28min ago
U.S. Homebuilder Confidence Unexpectedly Slumps In May
Reflecting growing uncertainties stemming from elevated interest rates, tariff concerns, building material cost uncertainty and the cloudy economic outlook, the National Association of Home Builders released a report on Thursday showing an unexpected slump by U.S. homebuilder confidence in the month of May.
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3h 39min ago
U.S. Industrial Production Unexpectedly Flat In April
With a rebound by utilities output offset by decreases by manufacturing and mining output, the Federal Reserve released a report on Thursday showing industrial production in the U.S. came in unchanged in the month of April. The Fed said industrial production was unchanged in April after falling by 0.3 percent in March. Economists had expected industrial production to rise by 0.2 percent.
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4h 0min ago
New York Manufacturing Index Edges Modestly Lower In May
A report released by the Federal Reserve Bank of New York said regional manufacturing activity continued to decline modestly in the month of May. The New York Fed said its general business conditions index edged down to a negative 9.2 in May from a negative 8.1 in April, with a negative reading indicating contraction. Economists had expected the index to dip to a negative 10.0.
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4h 13min ago
Philly Fed Index Jumps More Than Expected But Remains Negative In May
Philadelphia-area manufacturing activity remained weak in the month of May, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday. The Philly Fed said its diffusion index for current general activity jumped to a negative 4.0 in May from a negative 26.4 in April, but a negative reading still indicates contraction.
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5h 7min ago
