Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Trading

UK’s FTSE 100 closes near one-week high, Melrose shines
London Stock Exchange trading floor display screens

Published : , on

(Reuters) -UK’s FTSE 100 closed higher on Monday, with conglomerate Melrose topping the index following an upbeat trading update, while domestically-focussed midcaps closed lower as caution prevailed ahead of an inflation report due later in the week.

The export-heavy FTSE 100 index rose 0.57% to a near one-week high, buttressed by a 3.2% jump in precious metal miners as bullion prices rebounded. [GOL/]

Melrose Industries rose 7.6% to levels last seen more than three months ago, after the owner of aerospace parts maker GKN Aerospace reported a jump in revenue over the past four months and said it expects to deliver a surge in free cash flow in 2025.

“Historically, Melrose bought up industrial businesses and executed a buy, improve, sell model – investors will hope the ‘improve’ bit has been retained,” Russ Mould, investment director at AJ Bell, said.

The midcap FTSE 250 that includes more domestically exposed companies lost 0.4%, ahead of October inflation data expected on Wednesday.

A majority of market participants, as per data compiled by LSEG, have priced in that the Bank of England could leave interest rates unchanged at its last meeting for the year in December, despite signs of an economy in contraction.

The main indexes logged losses in the previous week, with the FTSE 100 clocking its fourth straight week in declines.

Cerillion added 1.3% after the billing, charging and customer relationship management software provider reported strong annual results.

IQE pared early losses and was last down 1.7% after the Apple supplier said it would start a strategic review of its assets and warned that revenue would not grow this year due to a slower-than-expected recovery and weak consumer demand in end markets.

Sectors that were among top decliners were construction and materials along with real estate <.FTUB3510>, down over 1.4% each. A report from online property portal Rightmove said asking prices for homes fell over the last month by more than is usual for the time of year.

Also on tap this week are October retail sales figures and November business activity data.

(Reporting by Johann M Cherian in Bengaluru; Editing by Shinjini Ganguli and Andrew Heavens)

 

Uma Rajagopal has been managing the posting of content for multiple platforms since 2021, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune. Her role ensures that content is published accurately and efficiently across these diverse publications.

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post