London’s FTSE 100 traded higher throughout Thursday’s session, supported by positive corporate earnings, but edged lower at the end of the trading session, dragged down by tobacco companies which have been affected after US regulators proposed a ban on menthol cigarettes.

The blue-chip index closed flat but in the red at 6961, down just two points after trading above 7000 for most of the session. Meanwhile, the domestically focused FTSE 250 ended at 22,393 points, down 46 points.

After positive earnings, shares of Standard Chartered Bank, Smith and Nephew and Unilever were the main winners of the FTSE 100, while the two of the world’s largest tobacco companies, British American Tobacco and Imperial Brands, fell sharply, becoming one of the biggest losers.

US stocks ended broadly higher after a string of earnings from companies like Amazon and positive data hoping for an economic recovery.

The S&P 500 pushed higher to another all-time high, up 0.7%, while the Dow Jones Industrial Average also rose 0.7% each.

The Nasdaq Composite closed 0.2% higher, ending a two-day losing streak.

However, on Thursday, Asian markets saw a mixed opening, with major indices trading in the red around noon.

Japan’s Nikkei 225 is 0.46 points lower in the middle of Japan’s Golden Week holiday, while mainland Chinese stocks lagged after the government’s crackdown on the country’s tech giants to limit financial risks. A government report released today also showed Chinese manufacturing slowed more than expected this month.

The Hang Seng index also fell 1.53% and Kospi fell 0.55%.

The Indian market opened lower on Friday amid mixed global signals with Sensex 0.81% or 404 points down and Nifty down 1%.

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Source: www.independent.co.uk
This notice was published: 2021-04-30 05:29:01