Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

FTSE Rises Close To 2-Month High

By XTBStock MarketsApr 19, 2018 12:31
uk.investing.com/analysis/ftse-rises-close-to-2month-high-200201058
FTSE Rises Close To 2-Month High
By XTB   |  Apr 19, 2018 12:31
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

There have been further gains seen in the FTSE today with the benchmark trading higher once more and at levels not seen since February. The recent pullback in the pound has provided an additional boost to stocks in London, that were already moving higher on an overall improvement in risk sentiment.

UK retail sales slump on cold weather

The latest figures on consumer spending have shown a sharp slowdown and provided another negative datapoint for the pound - the third in as many days. UK retail sales for March contracted more than expected in falling 1.2% compared to the previous month, and after the miss in wage growth on Tuesday and the below forecast CPI number yesterday, today’s release completes a hat-trick of negative news for the pound. However, it should be pointed out that there are some mitigating circumstances with the familiar 'blame it on the weather' excuses doing the rounds. There is arguably something in this with the snow no doubt contributing to the significant fall in petrol sales as consumers stayed at home with the accompanying rise in online spending telling.

Debenhams (LON:DEB) shares rebound in volatile trade

Looking at individual retailers there’s been some wild swings this morning in Debenhams, with shares opening sharply lower following a their latest earnings release, but buyers have stepped in and seen price recoup the majority of the 10% drop in a strong rebound. The department store reported underlying pre-tax profit of £42m for the 6 months to March, which was inline with analysts’ forecasts despite the figure representing a 50% drop on the previous period. A 14.4% rise in net debt and halving of the dividend to 0.5p provided further negative and shares began around 10% lower shortly after the open. The stock currently changes hands in the low 20s at level not seen since the depth of the last financial crisis, but the strong buying pressure seen in response to this morning’s drop will be a pleasing development for investors who will be hopeful that price is close to a bottom.

Metals soar on sanctions

There’s been an incredible surge higher in industrial metals in recent days as traders have scrambled to buy nickel and aluminium in particular, due to fears surrounding future supply due to US sanctions on Rusal (PA:RUSAL), a Russian aluminium producer. Nickel had its largest daily gain in a decade on Wednesday and has pushed higher once more today as concerns that metal from Russian producer Norilsk Nickel (MCX:GMKN) might be impacted if current sanctions are expanded.

The Kremlin accounts for approximately 10% of the global supply of nickel and the market received an additional boost after Brazilian producer VALE (NYSE:VALE) announced lower levels of production than expected.

FTSE Rises Close To 2-Month High
 

Related Articles

FTSE Rises Close To 2-Month High

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email