FTSE 100 Lags In Ceasefire-led Rebound
(RTTNews) - With an addition of just a little more than quarter percent, the FTSE 100 benchmark of the London Stock Exchange underperformed its peers in the region. A massive decline in crude oil prices however dragged down the index as heavyweights BP and Shell recorded major losses.
The lackluster performance of FTSE 100 benchmark contrasted with Germany's DAX that surged 1.8 percent and France's CAC 40 that rallied 1.2 percent.
The FTSE 100 which had closed at 8,758.04 on Monday traded between 8,831.90 and 8,758.04 on Tuesday.
The index is currently trading at 8,785.49, having gained 0.31 percent from the previous close.
In the 100-scrip index, only 16 scrips are trading in the overnight red zone.
Easyjet topped gains with a surge of 6.4 percent. International Consolidated Airlines followed with gains of 5.8 percent. J.D. Sports Fashion also added 4.5 percent.
BP lost 4.3 percent. Endeavour Mining and Shell, both lost more than 3 percent.
With safe-haven demand boosted by the dramatic escalation in the Middle East conflict fading following the ceasefire announcement, the U.S. Dollar has weakened. The Dollar's retreat lifted the GBP/USD pair 0.79 percent to 1.3613. The sterling ranged between $1.3627 and $1.3506 in the day's trade. The EUR/GBP pair slipped 0.46 percent to 0.8528. The GBP/JPY pair has declined 0.14 percent to 197.37.
Aligning with the global trend, bonds in U.K. also witnessed a spike in yields. Ten-year bond yields in the U.K. added 0.40 percent to 4.5130 percent. The yields ranged between 4.5570 percent and 4.4810 percent over the course of the day. The same was at 4.4950 percent a day earlier.
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