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Author Topic: LONDON STOCK CONDITIONS: FTSE closed 24.05 points higher, bank-energy stocks bac  (Read 493 times)

schloss

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LONDON STOCK CONDITIONS: FTSE closed 24.05 points higher, bank-energy stocks backed the market.

London stocks closed positive overnight (November 5) at their highest level since February. 2020, led by banking and energy stocks while IAG shares The parent company of British Airways has jumped on hopes of recovery. Even warned about big losses this year.

The FTSE 100 London Stock Exchange closed at 7,303.96, up 24.05, or 0.33%, and up 1% this week.

BP and Shell were up 1.7 percent and 1.5 percent, respectively, as crude oil prices rose for a second day in a row.

A 0.1% drop in the pound continued to support dollar-earning exporters such as British American Tobacco, Unilever and Diageo.

Banking stocks were up 1.1 percent as yields on British 10-year Treasury bonds fell to a one-month low after the Bank of England voted to hold interest rates on Thursday.

IAG shares rose 6.1 percent after showing strong confidence about the reopening of transatlantic travel.

Other travel stocks also rose, including Wizz Air and EasyJet, up 2.8 percent and 6%, respectively.



 

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