FTSE 100 Extends Rally As Earnings Boost Adds To Inflation Euphoria
(RTTNews) - FTSE 100 of the London Stock Exchange continued to surge as earnings boost exacerbated the positive sentiment generated by the easing in inflation. Anglo American jumped after a production update.
FTSE 100 oscillated between 7,585.85 and 7,650.86 versus the previous day's closing level of 7,588.20.
The benchmark index of the London Stock Exchange is currently trading at 7,650.86, up 0.83 percent on an overnight basis.
In the 100-scrip index, only 23 are trading in the overnight red zone.
Anglo American and Antofagasta gained 4.8 percent. Glencore followed with a rally of more than 4 percent. Persimmon rallied 3.5 percent. Barratt Developments, M&G, Burberry Group, Rio Tinto, ABRDN, all rallied more than 2 percent.
On the losing side, Scottish Mortgage Investment Trust, Diageo and Unilever have declined more than 1 percent.
Sterling continued to tumble, amidst a reassessment of the monetary policy outlook. Amidst speculations of a less hawkish stance by the Bank of England, the GBP/USD pair has fallen 0.36 percent overnight to 1.2890.
Pricing in the commodity price rise speculation following Russia's exit from the Black Sea grain deal, bond yields have risen across regions. In tandem, yields on U.K.'s ten-year bonds have increased, though much more than its European counterparts. It has touched 4.2505%, rising more than 0.87 percent in the current session.
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