FTSE 100 Lags In Global Stocks Rally
(RTTNews) - The FTSE 100 benchmark of the London Stock Exchange extended gains on Friday albeit with a less pronounced rally than peers in Europe amidst weaker than expected GDP data.
Data released on Friday morning showed the British economy recording an unexpected contraction of 0.1 percent in October. Though economic growth had contracted by the same measure in September, markets had anticipated an expansion of 0.1 percent.
The FTSE 100 which had closed at 9,703.16 on Thursday traded between 9,707.22 and 9,764.30 on Friday.
The index is currently trading at 9,711.22, having added 0.08 percent from the previous close.
In the 100-scrip index, 44 scrips are trading in the overnight red zone.
Fresnillo topped gains with a surge of 3.9 percent. Endeavour Mining followed with gains of 2.8 percent.
Metlen Energy & Metals led losses with a decline of 3.1 percent. Whitbread also declined close to 2 percent.
Amidst the dollar's resurgence, the six-currency Dollar Index has surged 0.15 percent to 98.49 from the level of 98.35 at the previous close. The GBP/USD pair has in the meanwhile dropped 0.14 percent to 1.3371. The sterling ranged between $1.3400 and $1.3367 in the day's trade. The EUR/GBP pair edged up 0.01 percent to 0.8768. The GBP/JPY pair has however rallied 0.12 percent to 208.57.
With yields spiking across tenors and regions, bonds in the U.K. also witnessed a jump in yields. Ten-year bond yields in the U.K. added 0.36 percent to 4.5030 percent. The yields ranged between 4.5030 percent and 4.4700 percent over the course of the day. The same was at 4.4870 percent a day earlier.
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