LONDON (ShareCast) - - FTSE flat but at highest since June 10th
- Dow, S&P at record highs after jobs report
- US markets closed for public holiday today
techMARK 2,857.08 +0.18%
FTSE 100 6,864.83 -0.01%
FTSE 250 16,096.91 +0.42%
UK stocks were trading within an extremely narrow range on Friday morning as traders sat on their hands on a quiet session for global financial markets.
With no major economic data on tap and the New York Stock Exchange closed for the Fourth of July public holiday, risk appetite among investors was in the doldrums as the post-jobs report euphoria of the previous session quickly faded.
With just a handful of points separating the FTSE 100's intraday low and high this morning, the index was more or less flat by midday after settling at 6,865.21 on Thursday, its highest close since June 10th.
"The excitement of the week has seen the FTSE rise 2%, but today's calm trading will be a sharp contrast to the frenetic activity of yesterday," said David Madden, Market Analyst at IG (LSE: IGG.L - news) .
"Still, with the sunshine blazing down on London, the temptation to wrap things up in a quiet fashion and salute American Independence Day with an early beer will be too much to resist for some."
Data released yesterday showed that the US economy added an impressive 288,000 jobs in June up from a revised 224,000 in May and well ahead of analysts' forecasts, while the unemployment rate dropped to 6.1%, its lowest mark in more than five and a half years.
The Dow Jones Industrial Average finished at a new record high of 17,068 when US markets closed early yesterday, breaking the psychologically-important level of 17,000 for the first time in history. The S&P 500 also jumped 0.5% to an all-time high of 1,985.
easyJet gains on traffic stats
Budget airline easyJet rose strongly as it posted a 10.1% jump in its June passenger numbers, which leapt from 5.5m to 6.1m year-on-year. British Airways operator IAG, which yesterday reported a 4% rise in traffic in June, was also flying higher this morning.
Both Ryanair and Aer Lingus (Other OTC: AELGF - news) also reported an improvement in passenger numbers this morning but shares were slightly lower by lunchtime.
Telecom titan BT was in demand after reaching a deal with the trustee of its mammoth pension scheme to protect the company from increased costs linked to "potential increases in life expectancy".
Sports Direct was lower as the company continued to make headlines following the narrow shareholder approval of its controversial bonus scheme this week that will see founder Mike Ashley pocket £200m in shares. The latest reports are that the board may face an investor revolt over the re-election of board members at the next shareholder meeting.
Mining stocks were mixed this morning, though shares in copper miner Antofagasta (Other OTC: ANFGF - news) continued to rise after Morgan Stanley (Xetra: DWD.DE - news) upgraded its rating on the stock to 'equalweight', saying that "negative catalysts [have] played out".
FTSE 100 - Risers
easyJet (EZJ) 1,378.00p +2.23%
International Consolidated Airlines Group SA (CDI) (IAG) 368.80p +0.99%
Antofagasta (LSE: ANTO.L - news) (ANTO) 827.00p +0.85%
Experian (EXPN) 1,011.00p +0.80%
RSA Insurance Group (RSA) 480.80p +0.73%
BP (BP (LSE: BP.L - news) .) 520.60p +0.72%
Carnival (CCL) 2,234.00p +0.72%
Smiths Group (Other OTC: SMGKF - news) (SMIN) 1,306.00p +0.69%
Randgold Resources Ltd. (RRS) 5,005.00p +0.68%
BAE Systems (LSE: BA.L - news) (BA.) 430.00p +0.54%
FTSE 100 - Fallers
Sports Direct International (Other OTC: SDIPF - news) (SPD) 759.00p -1.30%
National Grid (LSE: NG.L - news) (NG.) 845.50p -0.94%
Coca-Cola HBC AG (CDI) (CCH) 1,324.00p -0.90%
Royal Bank of Scotland Group (RBS (LSE: RBS.L - news) ) 329.90p -0.87%
Barratt Developments (LSE: BDEV.L - news) (BDEV) 383.30p -0.80%
Fresnillo (FRES) 926.50p -0.75%
Legal & General Group (LGEN) 227.30p -0.74%
IMI (IMI (LSE: IMI.L - news) ) 1,516.00p -0.72%
CRH (CRH (NYSE: CRH - news) ) 1,544.00p -0.71%
SSE (SSE (LSE: SSE.L - news) ) 1,584.00p -0.69%
FTSE 250 - Risers
Evraz (EVR) 98.10p +5.31%
Computacenter (CCC) 661.00p +5.09%
Greene King (Other OTC: GKNGY - news) (GNK) 854.50p +4.65%
Elementis (ELM) 276.20p +3.29%
Telecom Plus (LSE: TEP.L - news) (TEP) 1,344.00p +3.07%
Aveva Group (Other OTC: AVEVF - news) (AVV) 2,175.00p +3.03%
Fidessa Group (LSE: FDSA.L - news) (FDSA) 2,299.00p +2.50%
EnQuest (ENQ) 139.20p +2.50%
RPS Group (LSE: RPS.L - news) (RPS) 294.70p +2.47%
William Hill (Other OTC: WIMHY - news) (WMH) 344.60p +2.44%
FTSE 250 - Fallers
Ocado Group (Other OTC: OCDGF - news) (OCDO) 424.90p -3.43%
Pets at Home Group (PETS) 194.40p -2.70%
Just Retirement Group (JRG) 150.30p -2.66%
International Personal Finance (LSE: IPF.L - news) (IPF) 591.00p -2.31%
Centamin (DI (KSE: 003160.KS - news) ) (CEY) 67.75p -1.74%
Oxford Instruments (LSE: OXIG.L - news) (OXIG) 1,272.00p -1.47%
Morgan Advanced Materials (Other OTC: MCRUF - news) (MGAM) 322.90p -1.46%
Entertainment One Limited (LSE: ETO.L - news) (ETO) 318.70p -1.33%
esure Group (ESUR) 273.30p -1.16%
Bellway (BWY) 1,598.00p -1.05%
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