- Sixth day of gains for FTSE
- Retailers and miners drive gains
- US stocks ease after recent rally
techMARK 2,786.92 +0.65%
FTSE 100 6,750.87 +0.85%
FTSE 250 15,878.10 +0.60%
Stocks have registered a sixth day of gains as confident investors took riskier moves in a day of light trading following the Christmas festivities.
The gains were also coming from retailers, which registered strong online sales both today and yesterday. Figures show a slight increase in Boxing Day footfall, while online sales are reported to have soared.
Today's gains saw the FTSE 100 end the day 56.70 points higher, and extends last week's rally into a second.
Over in the US stocks have eased of yesterday's strong rally which followed better-than-expected jobless data.
It was reported that China could be the world's largest economy by 2028, according to the Center for Economic and Business Research (CEBR), much later than previous estimates. The economic consultancy estimated in its annual report, the World Economic League Table, that China will overtake the US in 15 years in terms of gross domestic product (GDP) in dollar
The CEBR also said that the UK is on track to become Europe's largest economy.
"Germany is forecast to lose its position as the largest Western European economy to the UK around 2030 because of the UK's faster population growth and lesser dependence on the other European economies," the report stated.
New plans for cheque deposits were revealed over the festive period. The new method, which is set to undergo a pilot test in the UK this year, involves the customer of the cheque being able to photograph it before sending it to the bank electronically. The government hopes that the method, which is already in use in the US, will be made available across the UK by the end of next year.
In other macro news, it was reported that women expect to receive a retirement income 25% less than that of men, research by Friends Life revealed.
Also of interest, 1,500 people spent part of Christmas day filing their tax return, HM Revenue and Customs has reported.
Miners and retails propel FTSE higher
As has been the pattern for much of the day, mining stocks led the risers as risk appetite grew on the back of strong data out this week in the US.
Steel group EVRAZ rose strongly after disposing of a number of iron ore assets and utilities in Russia as it continues to "optimise" its Evrazruda portfolio.
BAE Systems continued to register decent gains after it on Monday won a $1bn deal to upgrade a number of South Korean fighter jets.
Department store chain Debenhams was making gains despite rumours that its Finance Director Simon Herrick could be leaving the company amid growing criticism of his recent performance.
Other retailers on the High Street were mostly higher this morning as investors reacted to Boxing Data sales figures, while supermarket peers Tesco, Morrison and Sainsbury were putting in decent performances today.
in home credit firm International Personal Finance (IPF) plummeted following the news of a fine in Poland. As markets reopened following the Christmas break, investors were reacting to a statement released late on Tuesday detailing a £2.4m fine relating to "a collective infringement of consumer interests" by its business in Poland.
Barclays was this week fined £2.3m for "records failure" by a US regulator, relating to an alleged 10 years of poor data preservation and emailing practices.
FTSE 100 - Risers
Fresnillo (FRES) 735.00p +3.59%
Hargreaves Lansdown (HL.) 1,349.00p +3.37%
Antofagasta (ANTO) 830.50p +3.17%
Anglo American (AAL) 1,309.50p +2.67%
Glencore Xstrata (GLEN) 315.70p +2.48%
CRH (CRH) 1,543.00p +2.46%
Royal Bank of Scotland Group (RBS) 340.00p +2.35%
Mondi (MNDI) 1,026.00p +2.29%
Experian (EXPN) 1,120.00p +2.10%
Burberry Group (BRBY) 1,496.00p +2.05%
FTSE 100 - Fallers
Land Securities Group (LAND) 955.00p -0.73%
Old Mutual (OML) 191.40p -0.73%
Kingfisher (KGF) 385.10p -0.49%
British Land Co (BLND) 625.50p -0.40%
Hammerson (HMSO) 500.00p -0.40%
Reckitt Benckiser Group (RB.) 4,789.00p -0.27%
Smith & Nephew (SN.) 865.50p -0.23%
RSA Insurance Group (RSA) 92.25p -0.22%
AstraZeneca (AZN) 3,605.00p -0.19%
Admiral Group (ADM) 1,302.00p -0.15%
FTSE 250 - Risers
Kazakhmys (KAZ) 218.50p +9.80%
Evraz (EVR) 109.30p +8.33%
Fenner (FENR) 484.20p +6.98%
African Barrick Gold (ABG) 187.80p +6.70%
Polymetal International (POLY) 565.00p +6.60%
Lonmin (LMI) 308.90p +5.32%
Synthomer (SYNT) 255.00p +4.08%
Centamin (DI) (CEY) 44.60p +3.87%
Euromoney Institutional Investor (ERM) 1,388.00p +3.27%
Essar Energy (ESSR) 72.35p +3.21%
FTSE 250 - Fallers
International Personal Finance (IPF) 455.20p -15.70%
Aveva Group (AVV) 2,147.00p -2.23%
Alent (ALNT) 350.00p -2.07%
Ocado Group (OCDO) 448.00p -1.84%
Capital & Counties Properties (CAPC) 326.30p -1.75%
ITE Group (ITE) 304.00p -1.71%
Bwin.party Digital Entertainment (BPTY) 122.80p -1.68%
Partnership Assurance Group (PA.) 300.00p -1.64%
UDG Healthcare Public Limited Company (UDG) 330.30p -1.40%
St. Modwen Properties (SMP) 361.30p -1.26%
FTSE TechMARK - Risers
Torotrak (TRK) 20.12p +5.23%
Kofax Limited (DI) (KFX) 426.25p +2.22%
SDL (SDL) 360.00p +1.19%
Phoenix IT Group (PNX) 129.75p +0.97%
Vectura Group (VEC) 140.50p +0.90%
Skyepharma (SKP) 118.00p +0.85%
NCC Group (NCC) 187.25p +0.81%
Gresham Computing (GHT) 125.50p +0.40%
Ricardo (RCDO) 669.50p +0.37%
Sepura (SEPU) 135.00p +0.19%
FTSE TechMARK - Fallers
Optos (OPTS) 199.00p -1.49%
Dialight (DIA) 849.50p -0.93%
Anite (AIE) 100.00p -0.74%
Innovation Group (TIG) 34.50p -0.72%
Electronic Data Processing (EDP) 70.00p -0.71%
Wolfson Microelectronics (WLF) 147.00p -0.51%
XP Power Ltd. (DI) (XPP) 1,590.00p -0.47%
Consort Medical (CSRT) 959.50p -0.42%
Gov Bond 7-10YR UCITS ETF (IEGM) € 177.16 -0.37%