FTSE 100 Firm Above The Flatline
(RTTNews) - The FTSE 100 benchmark of the London Stock Exchange is trading firmly above the flatline even as global market sentiment suffered following disappointing inflation data from the U.S. The hawkish comments from a Fed official further renewed rate hike expectations, dampening overall market sentiment.
The FTSE 100 which had closed at 10,782.87on Monday traded between 10,868.51 and 10,775.76 on Tuesday.
The index is currently trading at 10,792.02, adding 0.08 percent from the previous close.
Marks and Spencer Group rallied 3.2 percent. Computacenter followed with gains of 2.7 percent.
Shell led losses with a decline of 2.7 percent. Fresnillo also lost more than 2.5 percent.
The dollar's rally and the strengthening of the six-currency Dollar Index by 0.34 percent to 102.00 has impacted currency market sentiment. The GBP/USD pair has slipped 0.36 percent to 1.3390. The sterling ranged between $1.3459 and $1.3346 in the day's trade. The EUR/GBP pair has added 0.08 percent to 0.8357. The GBP/JPY pair is currently trading 0.03 percent higher at 212.33.
With hotter-than-expected consumer price inflation readings from the U.S. as well as hawkish Fed comments increasing Fed rate hike expectations, bond yields have hardened across tenors and regions. In tandem, yields on ten-year bonds in the U.K. have increased 1 percent to trade at 5.1846 percent. The yields ranged between 5.1846 percent and 5.0929 percent over the course of the day. Yields had closed at 5.1311 percent a day earlier.
European Markets Finished Mixed On Tuesday
U.S. Consumer Prices Climb 0.4% In October, More Than Expected
CAC 40 Extends Gains
U.S. Consumer Prices Climb More Than Expected In October
DAX Rises Further On Tuesday
U.S. Dollar Rises After Fed Gov Waller's Hawkish Remarks
U.S. Dollar Rises Against Majors
