News by email Donate

Suggestions

FTSE 100 flat as energy rally offsets consumer discretionary drop

by Reuters Journalist
London Stock Exchange.JPG - Banner image

UK's blue-chip shares were flat on Friday as a rally in energy stocks offset losses in consumer discretionary companies, with all eyes on U.S. labour data to make bets on the Federal Reserve's policy path.

The FTSE 100 edged 0.07% higher, while the mid-cap FTSE 250 shed 0.3% by 0727 GMT. However, both indices are set to end the week higher, snapping a three-week losing run.

Oil major Shell and BP rallied 0.3% and 0.7%, respectively, after sliding on Thursday when Shell said its third-quarter profit would be pressured by falling refining margins.

Crude oil prices set to log a weekly gain also helped. [O/R]

However, weighing on sentiment was a survey that showed only one in three businesses in Britain are confident their profits will increase in the coming year, while 39% expect a decline.

British fashion group Superdry jumped 6.6% after it returned to profit in the year to April 30, but said that it was cautious in the near term due to economic factors, including high inflation.

Globally, a risk-off sentiment prevailed ahead of U.S. labour data, due at 1230 GMT. The aggressive policy tightening by the Fed, along with other major central banks, including the Bank of England, have hit risk assets this year. [MKTS/GLOB]


 

A Monthly Gift Of $11 Makes A World Of Difference

In a world of fake news there’s never been a greater need for quality Christian journalism. Premier’s mission is to provide the Church with the most up to date and relevant news, told from a Christian perspective. But we can’t do it without you.

Unlike many websites we haven't put up a paywall — we want to keep our journalism free at the point of need and as open as we can. Premier’s news output takes a lot of time, money and hard work to produce. No one in the USA is sharing news like we are across radio, magazines and online so please help us to continue that today.

For a monthly gift of $11 or more we’d also be able to send you a free copy of the brand new Premier Bible, a wonderful Anglicised version of the NLT packed with exclusive bonus content, reading plan and resources to help you get the most out of scripture.

Your monthly support will make a world of difference. Thank you.

Support Us
Continue the conversation on our Facebook page

Sign up to our newsletter to stay informed with news from a Christian perspective.

News by email

Connect

Donate

Donate