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Fed fires up FTSE; ASOS ascends

By BFN News | 08:40 AM | Thursday 08 April, 2021


The FTSE 100 has been buoyed on opening after the minutes from the latest Federal Reserve meeting indicated that the central bank's 'accommodative stance' to monetary policy would remain for now. The FTSE 100 is up 0.5% at 6,915.37 on the news, while the FTSE 250 made a slight gain, up 0.03% at 22,168.09. Fashion retailer ASOS has inched up 1.7% to £58.87 on the new it has raised its full-year expectations after reporting a jump in first-half profit as sales were boosted by a pandemic-led surge in online shopping. For the six months ended 28 February, pre-tax profit rose 253% to £106.4 year-on-year, as revenue jumped 25% to £1.98 billion. Johnson Matthey has soared 4.4% to £32.33 on the news that the chemicals company upgraded its outlook on annual operating performance following a 'materially stronger' second-half recovery from the pandemic impact. Homewares retailer Dunelm is 2.5% higher to £13.81 after reporting that it expected profit to be 'modestly ahead' of the top of the current range of market expectations. Anglo American has risen 3% to £30.76 after the mining giant said it has demerged its thermal coal operations in South Africa as it seeks to move away from thermal coal and decarbonise its operations. British Land has lost 1.4% to 511.2p following the news it has pre-let nearly 30% of office space at 1 Broadgate to real estate services firm JLL on a 15-year term. Morgan Sindall has gained 1.2% to £18.68 after it announced the appointment of Vodafone director Kathy Quashie as a non-executive director, with effect from 1 June 2021. Segro has nudged up 0.2% to 961.6p after it reported 'continued strong rent collection for the first and second quarters of 2021'. The property investor said it had collected 97% of all rents due from both its UK and Continental Europe portfolios for the first quarter of 2021. Specialist lender OSB Group has inched up 2.4% to 467.4p after it reported a 9% drop in annual earnings and said underlying pre-tax profit fell slightly to £346.2 million for the year ending 31 December 2020, from £381.1 million a year prior. Story provided by StockMarketWire.com

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