U.K. stocks are roughly flat a little before noon on Thursday with investors largely making cautious moves, looking for direction.
Despite earnings hopes and data showing increased optimism of British manufacturers to highest level in almost five decades, the mood in the market is cautious amid the possibility of shutdowns in several countries due to the relentless surge in coronavirus infections.
The benchmark FTSE 100 is up 4.23 points or 0.06% at 6,899.52, after advancing to 6,933.27 earlier. The index gained 0.52% on Wednesday.
Experian Plc shares are rising more than 3.5%. Aveva Group, IAG, Scottish Mortgage, Rolls-Royce Holdings, Polymetal International and RightMove are among the other prominent gainers.
Melrose Industries shares climbed higher thanks to a rating upgrade of the stock by investment bank Peel Hunt.
On the other hand, BAE Systems, Fresnillo, Rentokil Initial, Antofagasta and Informa are down 1.6 to 4%.
In economic news, British manufacturers’ optimism rose to its highest level in 48 years as the phased economic reopening lifted the mood among firms. On the other hand, the monthly manufacturing orders expectation balance fell unexpectedly into negative territory, with the April CBI order book balance falling to -8%, against expectations for a 2% increase.
Market Analysis
FTSE 100 Up Marginally After Paring Early Gains
2021-04-22 10:41:05
