FTSE 100 Dips But Remains Above 7000 Amid Pound Rise, Sensex Opens Green Business News

London’s FTSE 100 was dragged lower on Monday and ended the day’s trade in red, although it managed to stay above 7,000, a benchmark it hit last week for the first time in over a year.

The major stocks index finished 19 points, or 0.29 percent lower, at exactly 7,000, while the domestically-focused FTSE 250 closed 31 points, or 0.1 percent lower, at 22,490.

The drop came amid the strong pound as the currency gained 1 percent against a weakened dollar to a one-month high, and 0.7 percent against the euro, with £ 1 buying $ 1.4 and € 1.16.

Shares of manufacturing company Melrose Industries were hit the hardest by the FTSE 100 after deciding to sell its air handling unit. The value of the company’s stock fell 4.61 percent.

The UK market is awaiting significant data this week on the labor market, inflation, retail sales and flash PMIs.

Meanwhile, Wall Street stocks fell after record highs, with all three major indices closing broadly lower on Monday, dragged down by tech stocks. The S&P 500 fell 0.5% and the highly technological Nasdaq lost 1%. Small business stocks did worse than the rest of the market. The Dow Jones Industrial Average fell 0.4 percent.

Tesla led the decline in the S&P 500 and Nasdaq Composite, as shares of the electric car company fell 6.5% in the fatal Texas car crash on Saturday, which left two dead.

Asian stocks also faced some turmoil in trading on Tuesday morning, with major indices remaining lower except for South Korea’s Kospi which trended higher and Chinese markets recovering from the early ones. hours.

Japan’s Nikkei led losses as it traded with a low of over 500 points or 1.7 percent around noon. Taiwan’s index traded red throughout the session at a low of 41 points, while Hang Seng is also trading with a low of 23 points, having opened more than 40 points lower on Tuesday.

Indian markets show a recovery as they opened in green on Tuesday after falling 2% in the previous session over Covid-19 concerns, the Indian government’s decision to vaccinate all people over 18 to from May 1 which boosted investor sentiment.

The S&P BSE Sensex traded around 48,430 levels, up 480 points, and the Nifty50 index hovered around 14,500. Pharmaceuticals saw a surge following government orders, as did bank stocks , automobiles and metals.

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This notice was published: 2021-04-20 04:39:55