LONDON MARKETS: FTSE 100 Bucks Weaker European Trend As Oil Companies Rise
19 Outubro 2018 - 10:18AM
Dow Jones News
By Barbara Kollmeyer, MarketWatch
EasyJet leads decliners list
The U.K.'s main equity index rose Friday, pushing aside weakness
across global markets and tensions surrounding the Italian budget,
which weighed on continental stocks.
The U.K.'s FTSE 100 finished 0.4% lower at 7,026.99, after
declining 0.1% on Wednesday.
The British pound was at $1.3053, below $1.3114 seen late
Wednesday in New York. Against the euro , the pound weakened,
changing hands at GBP0.8787, versus GBP0.8769 on Wednesday.
U.K. traders continued to watch U.K. Prime Minister Theresa
May's efforts to forge a new trade and customs pact with the EU,
with Britain is set to relinquish its membership in March. On
Thursday, May indicated that an extension of the U.K.'s current EU
status could come into play because of unresolved differences
between the parties.
Meanwhile, the EU cautioned Rome that its budget draft would run
afoul of rules in place for member countries, which pushed up the
yield on Italian debt, and weighed on banking stocks especially
across Europe.
(http://www.marketwatch.com/story/italys-stock-market-slumps-as-budget-drama-looms-weighs-on-broader-european-bourses-2018-10-19)
What are strategists saying?
"Investors are sitting tight, waiting to see how the storm
brewing within the British camp unfolds. The Euro-sceptic wing is
campaigning hard to derail the possibility of an extension to the
Brexit transition period. Should they succeed there will be more
downside risk for sterling, said Ricardo Evangelista, senior
analyst at ActivTrades.
Which data were in focus?
U.K. borrowing touched an 11-year low
(http://www.marketwatch.com/story/uk-government-borrowing-hits-11-year-low-2018-10-19-84851142)
in September, putting the country on track to meet its 2018
target.
Stocks to watch
Major oil companies drove the gains in London as crude prices
rose
(http://www.marketwatch.com/story/oil-climbs-but-set-for-weekly-loss-on-supply-rise-2018-10-19),
with Royal Dutch Shell PLC (RDSA.LN)(RDSA.LN) up 1.1% and BP PLC
(BP.LN) (BP.LN) up 0.5%.
EasyJet PLC (EZJ.LN) topped the decliners list with a 7% drop
after a reported downgrade by MainFirst.
InterContinental Hotels Group PLC (IAG.LN) fell nearly 6% on
disappointing results.
(END) Dow Jones Newswires
October 19, 2018 09:03 ET (13:03 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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