FTSE 100 edges up for third day
On Monday, British stocks went up on hopes that the Fed isn’t going to increase its interest rates next month. The hope even outperformed quite gloomy Chinese trading data.
The FTSE 100 index grew 0.2%, trading at 6,140.24, thus getting on track for its third session of revenues.
Market participants were greatly encouraged by an upbeat close in America on Friday, which arose after weaker than expected labor news, which ruined expectations that the Fed would raise rates in June. British stocks boasted small revenues on Friday, but closed -1.9% the holiday-shortened week.
As for leading gainers in Monday’s action, we should point out to stocks of EasyJet PLC. They grew 2.5% after RBC Capital Markets raised the budget airliner from underperform to outperform, as Dow Jones Newswires states.
Smith & Nephew PLC gained 0.9% after Jefferies dared to raise the medical supplies maker to purchase from hold, telling that the company now boasts a leading position in higher-growth segments.
However, mining companies weighed on the FTSE after Chinese export as well as import data renewed fears regarding growth in the number two economy. Additionally, in April exports dipped 1.8% year-over-year, while imports tumbled 10.9%.