FTSE questions the chaos in the Capitol and rises for the fourth day


On Thursday, London’s top index extended its three-day winning streak, having already recorded its best start to the year this week as the unrest in the US capital was overlooked by global markets.

The FTSE 100, up 15.1 points to 6,856.96, gained another 0.2 per cent.

Compared to the beginning of the week, this was a weak improvement, but it means that the index has not closed in the red on a single day this year.

The acts of extremists who stormed the U.S. appeared unfazed by markets. Capitol building as the results of the November presidential election were certified by senators and congressmen.

The authorities reported that one woman was shot by police, while three others died in a medical emergency.

But the crowd in the U.S., where the Dow Jones was up about 1 percent and the S&P 500 was up 1.5 percent in London at the close, did not stop traders.

Traders were possibly more interested in the wins of two candidates for the Democratic Senate in Georgia, who handed control of the Senate to the opposition.

The Dax also rose 0.6 percent in Europe, while the Cac gained 7 percent .

“European stock markets will end the day higher as the bulls are in control. Pandemic and lockdown worries have eased for now, and high hopes for a stimulus-friendly Biden administration in the U.S. are also helping,” said analyst David Madden of CMC Markets.

The small increase in the FTSE was motivated in part by an increase in Sainsbury’s stock, which announced a successful Christmas trading period in which revenues increased by more than 9 percent.

During the Christmas season, the increase was partly due to Covid 19 constraints, which caused individuals to buy smaller turkeys and more lamb and beef than normal.

By the end of the day, the news sent the shares of the company up almost 7 percent.

In other company news, Mitchells & Butlers, owner of All Bar One, said it plans to raise money as it uses £ 40 million in cash per month. Shares fell by 3% .

A new special dividend of 20 pence per share for shareholders was revealed by B&M Bargains, sending shares up just 0.3 percent .

As engineers at its British Gas subsidiary went on a five-day strike, Centrica shares dropped more than 2 percent.

“Ryanair’s shares dropped 1.7% as the company announced that it would operate “few, if any, flights” to and from the U.K. Due to tight constraints over Covid-19, and Ireland.

After the company agreed to buy Sweden’s Enlabs for £ 250 million and raised a profit outlook, Entain’s stock increased 0.5 percent.

In the seven weeks to Jan. 3, Joules said store sales dropped 58 percent, while online sales increased. Shares have dropped by 5.5 percent .

Sainsbury’s, up 16 pence to 248.5 pence; BT, up 5.8 pence to 146.85 pence; CRH, up 122 pence to 3,504 pence; Mondi, up 62 pence to 1,886.5 pence; and Ferguson, up 292 pence to 9,206 pence, were the highest risers in the FTSE 100.

UK Property, down 21.9 pence to 466.9 pence, Auto Trader, down 26.4 pence to 583.4 pence, Rightmove, down 17.8 pence to 627 pence, Pearson, down 15.6 pence to 682.6 pence, and Experian, down 56 pence to 2,823 pence, were the biggest losers in the FTSE 100.


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