The FTSE 100 rose by a nominal amount early on Tuesday, up to 7,052.27. UK borrowing figures surpassed expectations, but remained the second highest ever, failing to significantly impact the UK index.
“It didn’t help that the pound continued to make inroads against the dollar, adding another 0.2% to cross $1.419. If cable can maintain that slender growth all the way until the end of the day, it will achieve its best close in over 3-years,” said Connor Campbell, financial analyst at Spreadex.
Returning from their Bank Holiday rest, the DAX and CAC saw contrasting fortunes on Tuesday. The German bourse was up close to 0.7%, and trading at 15,550. Its French counterpart, meanwhile, struggled to move beyond 6,400 as it opened the session as unchanged as the FTSE.
“Looking to this afternoon and the Dow Jones is set to continue its creep back towards 35,000. A 0.2% addition when the bell rings on Wall Street would equate to a 60-point increase, lifting it to 2-week peak of 34,460,” Campbell added.
FTSE 100 Top Movers
Aveva (4.43%), Just Eat (2.47%) and Ocado (1.89%) are the biggest risers on the FTSE 100 during the morning session on Tuesday.
Losing the most ground this morning was Vodafone (-0.99%), Fresnillo (-0.96%) and Admiral Group (-0.84%).
Aveva
Shares in software group Aveva rose this morning as the FTSE 1OO company reported strong H2 growth following an initial downturn thanks to the pandemic.
Aveva confirmed revenue of £820m for the year to the end of March, down by 1.6% albeit matching expectations, while adjusted earnings rose 4.4% to £226.4m.
