Financial Shares Boost FTSE 100

UK shares inched upwards during early trading, with banks and insurers making much of the gains. Within a few minutes after opening, the UK’s leading index was up by 3.63 points, to 7,192.45.

UNDEFINED - Thursday, February 09, 2017

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Insurance firms were strong performers, with Aviva up by 1 percent and Prudential up by 0.8 percent. Barclays was another strong performer, up by 0.8 percent as well.

In the FTSE 250, Thomas Cook is down by 6.6 percent, after the travel company expressed that its outlook for the next year was a cautious one. The company says that they have benefitted from increased demand for holidays to Greece, but it went on to add that it was seeing tough competition when it came to trips to island resorts in Spain.

The Chief Executive of Thomas Cook, Peter Fankhauser, said that they remained cautious regarding the future for this year, given the uncertain political and economic outlook.

Regarding the currency markets, the pound was up by 0.2 percent against the dollar, sitting at $1.2562, and it was also slightly higher against the Euro. The UK markets bucked the trend of the US and Asian markets, which both put in weak performances overnight. In the lower tiers, Asiamet Resources was one of the stronger performers this morning. Following a strong update the stock got off to a great start, and has gained 9 percent. The geologists say that they are continuing to see good results at their flagship copper mining project in Indonesia.


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