FTSE 100 reaches day’s high but Wall Street struggles for direction

• FTSE 100 closes over 42 points higher
• US stocks mixed
• Royal rat-catcher Rentokil slips on EU warning

4.55pm: FTSE closes ahead

FTSE 100 closed in the green on Thursday as trader optimism bounced back.

The UK premier share index gained almost 43 points, or 0.62%, at 6,938 not far off the intra-day high of 6,941.

FTSE 250 also headed north, adding over 279 points, or 1.26% to 22,364.

“The losses of earlier in the week appear to be a distant memory, particularly in the US, where indices have been busily clawing back the ground ceded on Monday and Tuesday,” said Chris Beauchamp, chief market analyst at online trading firm IG, in a note.

“Earnings season appears to be providing sufficient good news to keep indices at their elevated levels, with few unpleasant surprises thus far. 2021 continues to surprise in its lack of volatility, marking a sharp contrast to the madness of 2020.”

3.50pm: Mixed bag of risers

The FTSE 100 is at its highs for the day although to be honest, that is not saying much.

The blue chip index is currently 33.07 points or 0.48% better at 6928.36 despite the fall on the Dow Jones Industrial Average, down 128 points or 0.38%. Given Wednesday’s surge the decline is not really surprising, with a little profit taking setting in. Meanwhile the S&P 500 is virtually flat, down 0.07% and the Nasdaq Composite has edged 0.26% higher.

It’s a mixed bag of risers in the UK index, with credit reference specialist PLC () up 87p or 3.24% to 2776p and () 3.19% or 19p higher at 618.8p after its latest update.

Back with the ECB, and speaking after the day’s meeting, the bank’s president Christine Lagarde said the euro economy was on crutches, relying on support on the one hand from governments and on the other the ECB.

Matthew Ryan, senior market analyst at financial group Ebury said: “While we are more upbeat than we were regarding the Euro Area’s vaccination rollout, clear downside risks to the growth and inflation outlook remain and the ECB will, in our view, be in no rush whatsoever to unwind its accommodative policy stance.

“We may see the bank announce that it will begin slowing the pace of asset purchases in June, but we certainly don’t expect any talk on the programme’s end date until at least the September meeting. At this point the bank will have a much clearer idea as to the state of the health crisis and, in particular, its impact on Euro Area inflation.”

2.45pm: Proactive North America headlines:

Alternus Energy Group PLC (NOTC:ALT) bolsters executive team by appointing industry veteran Gary Swan as CTO

Ltd () () (FRA:31R) files US provisional patent application for oral thin-film psilocybin product following research study

Marble Financial Inc () () (FRA:2V0) launches affiliate marketing program with Fintel Connect to reach more Canadian consumers

Ltd () (OTCQX:GTBAF) (FRA:0G6A) extends area of continuous gold mineralization at LP Fault, Dixie project by 25%

Talon Metals Corp () (OTCMKTS:TLOFF) (FRA:TAO)  continues to hit high-grade nickel outside of Tamarack project resource area

Corporation () (FRA:2C1) names Avi Greenspoon as inaugural member of its new advisory board

Inc () () (FRA:7LV) increases domestic reach via distribution agreement with Yukon territory

Lexaria Bioscience Corp () () says dosing in first human trial of DehydraTECH CBD to treat high blood pressure has started

() (OTCQB:PLNHF) crushes single-day sales record in Las Vegas with historic 420 return

Inc () (OTCQB:LNLHF) (FRA:LL1) says first containers of Mike Tyson-branded Iron Energy drink headed to its Arizona distribution facility

Loop Insights Inc () () joins Oracle Partner Network to integrate with its POS system to get in front of more potential clients

Versus Systems Inc () () () engagement platform to include alcohol ads beginning in July

2.45pm: Wall Street opens in red despite fall in jobless claims

The main indices on Wall Street were trading further in the red…