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FTSE 100 Lags In Rebound
(RTTNews) - The FTSE 100 benchmark of the London Stock Exchange rebounded on Friday albeit at a level lower than its peers. The prospect of negotiations to ease the Israel - Iran conflicted boosted sentiment and risk appetite. The Bank of England's cautious approach however limited gains.
The FTSE 100 which had closed at 8,791.80 on Thursday traded between 8,847.28 and 8,791.80 on Friday.
The benchmark index of the London Stock Exchange is currently trading at 8,828.43, having rallied 0.42 percent from the previous close.
In the 100-scrip index, only 13 scrips are trading in the overnight red zone. Melrose Industries extended gains with a surge of 4.3 percent. Entain, Standard Chartered as well as International Consolidated Airlines Group added more than 2 percent.
Berkely Group Holdings plunged 7.8 percent. BP and Shell followed with losses of more than a percent.
With risk appetite boosted by a slight easing in geopolitical tensions, the U.S. Dollar has weakened. The Dollar's weakness lifted the GBP/USD pair to 1.3491. The sterling ranged between $1.3501 and $1.3445 in the day's trade. The EUR/GBP pair traded flat at 0.8537. The GBP/JPY pair has rallied 0.28 percent to 196.47.
Amidst a mixed trend for bonds in Europe, yields in the U.K. are currently trading firmly above the flatline. Ten-year bond yields have increased 0.62 percent to 4.5610 percent. The yields ranged between 4.5630 percent and 4.5010 percent over the course of the day. The same was 4.5330 percent a day earlier.
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