FTSE 100 progresses after recording CBI data Business News

London’s FTSE 100 climbed on Tuesday, helped by a rally in real estate stocks and oil majors, while record data on UK factory activity raised investors’ hopes for an economic recovery.

The blue chip index closed up 28 points, or 0.4%, at 7,090 on Tuesday. While the domestically focused FTSE 250 closed 0.8% higher.

British Land and Land Securities were the main gainers in the benchmark, up 4.4 and 3.1% respectively, with both receiving improvements from JP Morgan in hopes of a recovery upon reopening. from the United Kingdom.

Data released on Tuesday showed that UK manufacturing output volumes in the three months to June grew at the fastest rate on record since 1975, according to the CBI’s latest monthly industrial trends survey.

Hugh Shields, financial trader at Spreadex, said the strong performance of the FTSE could improve in the coming sessions. “With the release of the minutes of the Bank of England meeting later this week as well, there is a possibility that this strong performance will improve further,” he said.

Across the Atlantic, Wall Street was also successful in rising as investors wore off interest rate hikes from the Federal Reserve. The S&P 500 finished near a record high, up 0.5%, while the Dow Jones Industrial Average also rose 0.2%. The Nasdaq Composite hit a new intraday high, climbing 0.8%.

Asia-Pacific opened a mixed opening on Wednesday despite overnight gains in the United States. The Shanghai composite slipped early in trading but recovered in the final hours. Hong Kong’s Hang Seng Index jumped 1.4%. The Nikkei 225 advanced in the early hours of the morning but sat below the flat line later.

Indian stock indices, Sensex and Nifty opened higher but fell quickly, dragged down by financials and computer stocks. Both indices stay close to the flat line.

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This notice was published: 2021-06-23 06:23:37

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