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FTSE 100 higher despite grim news from Ukraine

by LLB Reporter
4th Apr 22 11:16 am

Despite all the gloom, the FTSE 100 found reasons to be cheerful first thing on Monday, though the identity of the biggest riser – defence firm BAE Systems – provided a sober reminder of the increasingly grim backdrop provided by the ongoing Ukrainian conflict.

The geopolitical uncertainty and the global surge in inflation have not fully derailed global deal-making, with a merger between housing finance firm HDFC and India’s biggest lender HDFC Bank very significant from an emerging markets perspective.

“Lots of fund managers focused on the developing world own these stocks and they will likely be doing some quick-fire analysis on the merits of the transaction,” said AJ Bell’s Russ Mould.

“Closer to home there was further evidence that amid pressure on household budgets, consumers are prioritising spending on experiences rather than stuff as the owner of the Franco Manca pizza chain, Fulham Shore, pointed to revenue ahead of expectations.”

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