Breaking News
Close
Investing Pro 0
NEW! Get Actionable Insights with InvestingPro+ Try 7 Days Free

FTSE 100 finishes in the green, USD strong, Bitcoin continues rebound

EconomyJun 29, 2021 16:30
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

Key Points

  • FTSE 100 closing price of 7087.97, +0.21%
  • Stocks trend higher in quiet news flow
  • Travel & leisure stocks struggle
  • GBP retraces Javid-inspired bounce
  • Oil higher on demand outlook
  • Bitcoin back above $35,000

By Samuel Indyk

Investing.com – The FTSE 100 finished higher for the third day in four in what was a relatively quiet day in terms of major news flow.

Shares in IWG (LON:IWG) had opened higher by almost 10% after reports that US based private equity group CC Capital was interested in a potential takeover. However, the company denied the reports and shares pared some of the gains.

Travel & Leisure stocks were again soft amid the spread of the Delta variant and fears that the summer vacation season will be a washout. Tui (LON:TUIT) shares fell around 5%, while IAG (LON:ICAG), Wizz Air (LON:WIZZ), EasyJet (LON:EZJ) and Rolls-Royce (LON:RR) all finished nursing losses.

The sell-off came despite reports that the UK and EU was close to a deal on Covid-passports as German hopes for EU-wide banning on UK travellers failed to get enough support. The Guardian reported that talks were “advancing well” between the UK and EU on the mutual recognition of an NHS app and EU green digital certificate ensuring that fully vaccinated travellers can prove their status.

GBP retraced some Monday’s Javid-inspired gains, particularly against the USD, as a rise in global Covid cases supported the safe-haven currency. Data releases had little impact on FX with all focus appearing to turn to Friday’s nonfarm payrolls report. EUR/GBP moved back above 0.8600 amid the broad GBP weakness.

WTI and Brent crude futures eked out gains ahead of the key OPEC+ meeting this week. Ahead of the gathering, OPEC Secretary General Mohammed Barkindo said he expects oil consumption in the second half of the year to be 5 million barrels per day higher than in the first half. Expectation is for the cartel to further increase output by 500,000-1mln barrels per day from August.

Cryptocurrencies resumed their rebound with Bitcoin making a clean break above $35,000 and Ethereum holding firm above $2,200. If Bitcoin continues its push higher, the 50DMA at $38,200 could act as a level of resistance ahead of the psychological $40,000 level.

------------------------------------------------------------

Subscribe to Investing.com UK here

------------------------------------------------------------

FTSE 100 finishes in the green, USD strong, Bitcoin continues rebound
 

Related Articles

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
Our Apps
DOWNLOAD APPApp store
Investing.com
© 2007-2022 Fusion Media Limited. All Rights Reserved.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
  • Sign up for FREE and get:
  • Real-Time Alerts
  • Advanced Portfolio Features
  • Personalized Charts
  • Fully-Synced App
Continue with Google
or
Sign up with Email