Find Your Broker
Name Symbol Market Type
FTSE 100 FTSE:UKX FTSE Indices Index
  Price Change % Change Price High Price Low Price Open Price Traded Last Trade
  +39.67 +0.55% 7,236.68 7,261.63 7,185.23 7,197.01 0 16:35:30

LONDON MARKETS: London's FTSE 100 Higher After Updates From Shell, BT And Diaegeo

31/01/2019 2:37pm

Dow Jones News


FTSE 100
Index Chart

1 Month : From Jan 2019 to Feb 2019

Click Here for more FTSE 100 Charts.

By Emily Horton

Index set to finish January with a gain of over 3%

London markets were up on Thursday, after corporate updates from heavyweight Royal Dutch Shell PLC, BT Group PLC and Diageo PLC moved the FTSE higher.

An unexpectedly dovish U.S. Federal Reserve announcement from Wednesday also spurred on investors.

How did markets perform?

The FTSE 100 rose 0.5% to 6,977.01, after ending up 1.6% on Wednesday. The index is set to finish up 3.6% for the month of January, marking its best monthly return since last April, according to FactSet Research.

Meanwhile, the pound rose slightly to $1.3118 from $1.3114, late on Wednesday evening in New York.

What drove the markets?

Brexit took a backseat to corporate updates, but investors were still keeping an eye on the hot-button topic. Jean-Claude Juncker, the president of the European Commission warned U.K. Prime Minister Theresa May that any attempt to reopen Brexit negotiations with the EU will increase the chance of a disorderly Brexit, the Financial Times reported (https://www.ft.com/content/20e26db2-24af-11e9-8ce6-5db4543da632).

On the economic beat, new figures revealed that British car production had fallen by 9% in 2018, the biggest drop since 2008 recession, and that investment in the sector had fallen by almost half due to Brexit fears, Reuters reported (https://uk.reuters.com/article/uk-britain-eu-autos/uk-car-output-falls-at-fastest-rate-since-recession-idUKKCN1PP00O).

In the U.S., on Wednesday the Federal Reserve indicated it is holding any further interest rate rises (http://www.marketwatch.com/story/why-stocks-surged-yields-fell-and-the-dollar-tanked-after-the-feds-dovish-pivot-2019-01-30), citing muted inflation, which triggered sharp gains on Wall Street. Trade talks between Chinese and U.S. officials continued into Thursday.

What shares were active?

Drinks company Diageo (DEO) was among the FTSE 100's top gainers, adding almost 4% after it approved further buybacks (http://www.marketwatch.com/story/diageo-lifts-buybacks-as-tax-rise-hits-profits-2019-01-31).

Also at the top, Royal Dutch Shell (RDSA.LN) reported a profit rise (http://www.marketwatch.com/story/shell-profit-rises-on-higher-oil-gas-prices-2019-01-31), adding 3% to the company's stock. Heavyweight miner Antofagasta PLC (ANTO.LN) rose by over 2%.

BT Group (BT.A.LN) dropped by 1% on the news that the company's adjusted earnings and revenue both declined (http://www.marketwatch.com/story/bt-group-beats-forecasts-despite-earnings-fall-2019-01-31) in the third quarter of fiscal 2019.

Unilever (ULVR.LN) lost nearly 3% after it warned of a tough year ahead (http://www.marketwatch.com/story/unilever-warns-of-tough-2019-ahead-2019-01-31).

Investor Standard Life Aberdeen PLC (SLA.LN) lost almost 5%. Meanwhile in banking, HSBC Holdings PLC (HSBA.LN) and Barclays PLC (BCS) both lost over 2%.

 

(END) Dow Jones Newswires

January 31, 2019 09:22 ET (14:22 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

1 Year FTSE 100 Chart

1 Year FTSE 100 Chart

1 Month FTSE 100 Chart

1 Month FTSE 100 Chart
Your Recent History
FTSE
UKX
FTSE 100
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20190218 02:57:06