FTSE 100 recovers gains; flight prices rocket ahead of ‘green list’ announcement
The UK index of top shares closed up over 53 points at 7,129. The midcap FTSE 250 was also higher, adding almost 284 points at 22,775
- FTSE 100 closes up at 7,129
- Flight prices to Portugal jump 10-fold
- US adds 266,000 jobs instead of 1mln
5.10pm: FTSE closes ahead
FTSE 100 closed Friday ahead as Wall Street headed north too as the big miss on the US monthly jobs number convinced traders the US central bank wouldn’t change direction any time soon.
The UK index of top shares closed up over 53 points at 7,129. The midcap FTSE 250 was also higher, adding almost 284 points at 22,775.
Across the pond, the Dow Jones Industrial Average added over 164 points at 34,712, while the S&P 500 added around 32 at 4,234. The Nasdaq added 172 points at 13,804.
“When repeated Fed messages about making no changes to monetary policy fail to calm market fears about tapering, a good miss on non-farms payroll day will do the trick,” said Chris Beauchamp, the chief market analyst at IG.
“Today’s ‘huge miss’ on the headline NFP figure, and the downgrade to last month’s blowout figure, contributed to a general relaxation of nerves regarding any changes to Fed policy. Risk assets took off, the dollar fell, and gold built on its strong rally in yesterday’s session.”
Top gainer on Footsie was online grocery firm Ocado (), which rose 3.95% to 1,975p.
3.40pm: Flight prices rocket ahead of ‘green list’ announcement later today
FTSE 100 recovered some of the earlier gains before close, jumping 46 points to 7,122.
Flight prices have rocketed in anticipation of Grant Shapps’s announcement expected at 5pm today on what countries will make it in the ‘green list’.
On Thursday night, a Ryanair PLC () flight from London to Lisbon cost £152 compared to £15 the day before, the Evening Standard reported.
Booking.com’s chief executive Glenn Fogel told the BBC prices were going up due to pent-up demand and lack of scheduled trips.
It is understood it might be between ten or 12 countries, including Malta, Gibraltar, Portugal and Israel. Spain, Greece, France, the Seychelles and have also been rumoured as potential candidates.
The government’s travel plans involve a traffic light system of red, amber and green classifications for countries depending on the perceived COVID-19 risk.
The ‘green’ category means that travellers are not required to quarantine although tests will remain mandatory.
3pm: Proactive North America headlines:
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XPhyto Therapeutics Corp () ()( FRA:4XT) establishes a proof-of-concept station for its 25-minute point-of-care COVID-19 PCR test in Germany
Karora Resources Inc () (OTCMKTS:KRRGF) (FRA:5RN1) hails first quarter performance, which sets miner up for further growth
2.45pm: US stocks start higher
US benchmarks started in the green on Friday as investors mulled over the big miss in the monthly jobs report.
The US economy added just 266,000 jobs in April this year, while consensus estimates had been for one million…
Read More: FTSE 100 recovers gains; flight prices rocket ahead of ‘green list’ announcement