FTSE 100 Close Near Flat As Energy Stocks Fall, Insurers Advance Business News

London’s FTSE 100 managed to close slightly above the flat line after trailing for most of the session as energy and mining stocks fell, amid concerns over rising coronavirus cases investors were also worried.

The blue chip index finished just 3 points or just 0.1% above, helped by gains in insurance stocks, primarily Admiral Group, which jumped nearly 4%.

AstraZeneca also gave the FTSE 100 a boost after broker Jefferies raised its share price target, while Thailand said it would use the drugmaker’s vaccine as a second dose for those who have. received Sinovac vaccine as the first dose to increase protection.

The national mid-cap FTSE 250 index edged down 0.1%, with travel and leisure stocks falling the most.

Meanwhile, US stocks also rose slightly as investors envision a week of second-quarter earnings, with the S&P hitting a new high and all three major indices closing in the green.

The Dow Jones Industrial Average rose 126 points, or 0.4% to 34,996. The S&P 500 added 0.3% to 4,385, also a record close. The Nasdaq Composite traded 0.2% to hit a new closing high of 14,733.

Asian stocks also followed Wall Street on Tuesday and posted gains, with China, Japan and other leading markets trading in the green. The Shanghai Composite Index rose 0.1% and the Nikkei 225 in Tokyo rose 0.5%. The Hang Seng in Hong Kong added 1.5%.

Indian indices opened higher with Sensex up 200 points and Nifty nearly 15,800 as heavyweights Reliance and ICICI take the lead.