Gains in industrials helped London’s FTSE 100 rebound Thursday from its worst daily performance in a week, while Trainline (TRNT.L) shares fell to the bottom of the mid-cap index as the Kingdom -Uni was reorganizing its rail system.
The blue-chip index (.FTSE) rose 1%, with Experian (EXPN.L) climbing 4.7% to the top of the index, a day after its optimistic quarterly earnings forecast.
The larger industry index (.FTNMX502050) added 2.4%.
Banks and healthcare stocks including HSBC Holdings (HSBA.L), Prudential Plc (PRU.L), AstraZeneca Plc (AZN.L) and Smith & Nephew (SN.L), were also among the strongest index increases.
The domestically-focused mid-cap FTSE 250 (.FTMC) index rose 0.7%. Publisher Future (FUTR.L) jumped 9.6% to the top of the index after Deutsche Bank raised its price target on the share.
Globally, stock markets rebounded temporarily and bitcoin rebounded more than 12% after one of its dramatic collapses, although US Federal Reserve talks kept pressure on bond markets. .
“While the markets don’t want central banks to start raising interest rates too soon, they are also clearly concerned about the escalating price hike and creating a situation where policymakers don’t have to. no choice but to act, ”said Russ Mold, director of investments at AJ Bell.
“The situation with COVID-19 is very different in emerging markets and it could pose a threat to commodity-focused companies on FTSE, as demand is coming from developing countries.”
The FTSE 100 has gained 8.3% year-to-date on optimism about the economic recovery. But the index recently traded within a narrow range as rising inflation prompted fears central banks would cut support sooner.
Among other stocks, Trainline fell 23.2% on its worst day on record. Britain has said it will create a new public rail operator called Great British Railways, which will own and maintain the rail infrastructure, collect and set fares and hire private companies to operate the trains. Read more
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