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Strong earnings, dovish Fed drive FTSE 100 higher | Malay Mail

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LONDON, April 29 — London’s FTSE 100 climbed on Thursday supported by an accommodative policy stance by the US Fed, while positive earnings updates from companies including Smith+Nephew and Unilever helped the blue-chip index surge past the 7,000 mark. The index rose 0.6 per cent to 7,002.30,...

The London Stock Exchange Group in London March 9, 2020. — IPA/ABACA pic via ReutersLONDON, April 29 — London’s FTSE 100 climbed on Thursday supported by an accommodative policy stance by the US Fed, while positive earnings updates from companies including Smith+Nephew and Unilever helped the blue-chip index surge past the 7,000 mark.

The FTSE 100 was further supported by Unilever, which gained 3 per cent after it beat quarterly sales forecasts, helped by a pick up in home cooking during coronavirus lockdowns and a strong economic recovery in China. “This is a steeplechase and we are just running over the latest obstacle, as a liquidity-fuelled rally continues.”

 

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