The FTSE 100 rallied 1.8% yesterday to reach 5,100 on positive US jobless claims data. The Footsie is projected to extend gains today and add another 0.4%.
Temporary power provider Aggreko (LON:AGK) led the blue chips with a gain of nearly 6%. Part-nationalised bank Lloyds (LON:LLOY) followed with a 4.3% advance. Oil and gas supermajor Shell (LON:RDSB), insurer Legal & General (LON:LGEN) and fashion house Burberry (LON:BRBY) added about 4%. Asset management firm Schroders (LON:SDR) and banks Barclays (LON:BARC) and RBS (LON:RBS) climbed 3.6%.
Essar Energy (LON:ESSR) and retailer Sainsbury’s (LON:SBRY) were at the bottom of the pile with declines of 1.3% and 1% respectively. No other FTSE 100 constituent lost 1% or more.
US shares performed very well yesterday. The Dow Jones Industrial Average surged 1.2%, while the broader S&P 500 index advanced 0.95% and the technology heavy NASDAQ composite added 0.75%.
Asian markets were in buying mode today. Hong Kong’s Hang Seng index climbed 1.45%, China’s Shanghai Composite Index rallied 2.7%, Japan’s benchmark Nikkei 225 index rose 0.5%, South Korea’s KOSPI advanced 1.4% and Australia’s S&P/ASX 200 moved up 0.9%.
Commodities
Oil prices extended gains with August Brent Crude rising to US$75.13/barrel, while US light, sweet crude reached US$75.91/barrel.
Precious metals headed in different directions. Gold and silver declined to US$1,197/oz and US$17.90/oz respectively, while platinum climbed to US$1,525/oz.
Copper and nickel improved to US$3.02/lb and US$8.81/lb, while zinc declined to US$0.82/lb.
UK inflation data is due to be released today.