The FTSE 100 neared 7,400 ending the day at 7,388.13 though it hit 7,398.58 at one point. The two biggest climbers were Hargreaves Lansdown and Associated British Foods up 2.70% and 2.38% respectively to 1,446p and 2,877p. Barclays shares also came good, up 2.26% at 209.95p.
However ITV shares slipped -2.29% to 196.20p as investors absorbed this morning’s ad revenue slowdown news. Pearson and Rolls-Royce slipped -1.77% and -1.74% respectively, to 721p and 874.50p.
- FTSE 100 7,385.24 +0.59%
- Dax 12,757.46 +0.07%
- CAC 40 5,400.46 +0.05%
- Dow 20,954.93 -0.10%
- S&P 500 2,397.57 +0.03%
- Gold 1,221.10 +0.41%
- Oil WTI 47.46 +3.44%
Few FBI jitters
Reaction to Donald Trump’s sacking of his FBI chief was muted with modest initial falls. Late afternoon saw the Dow down -0.10% at 20,954. Gold was up 0.43% at 1,221.20; the euro barely budged at 1.0874, down -0.1% with the pound at 1.2935.
A tranche of Barclays directors have been re-elected with big majorities though there was a 2.8% rejection of boss Jes Staley's re-appointment. Other banking shares were also up.
Staley meanwhile has reaffirmed his commitment to keeping his UK workforce this side of the channel describing Brexit as a “manageable challenge”.
Buy into 'natural food' Stateside?
Over at the sandwich counter Pret a Manger is looking at floating in New York. It’s understood Bridgepoint Advisers, Pret’s owners, are examining several options. Pret has more than 70 outlets in the US so far with some potential to go further.
Meanwhile drinks titan Diageo is threatened by a £107m tax bill from HMRC though Diageo says it will appeal the move. The accumulated tax bill stems from the financial years 30 June 2015 and 30 June 2016. The announcement saw Diageo shares dip -0.52% to 2,279p.
It appears Vodafone is to pension off its pager service. Though decidedly analogue and old-tech, Vodafone does not have support from the competition watchdog to flog its business to Capita PageOne (as originally intended back in 2014).
“The Competition and Markets Authority’s (CMA) initial investigation into the merger,” the CMA said, “has found that it could lead to a substantial lessening of competition as the two companies are the only suppliers of wide-area paging services in the UK.”
Tomorrow, watch for the Bank of England’s votes on interest rate. The BOE will also be releasing the latest inflation report. This data could see sterling take on a new trading range.