Renewable Energy

Oil majors, miners bolster FTSE 100 rebound after Fed signals more rate cuts

Credit: REUTERS/STEFAN WERMUTH

London's FTSE 100 rebounded Thursday on strong gains in oil majors and miners as investors were encouraged by the U.S. Federal Reserve's stance on potential rate cuts, while electronics retailer Dixons Carphone tanked.

For a live blog on European stocks, type LIVE/ in an Eikon news window

FTSE 100 up 0.5%, FTSE 250 up 0.4%

Oil majors biggest support as crude prices jump

Dixons Carphone slumps after poor results

Dunelm gains after forecast upgrade

June 20 (Reuters) - London's FTSE 100 rebounded Thursday on strong gains in oil majors and miners as investors were encouraged by the U.S. Federal Reserve's stance on potential rate cuts, while electronics retailer Dixons Carphone tanked.

The FTSE 100 index .FTSE was up 0.5% and the FTSE midcap index .FTMC rose 0.4% by 0707 GMT.

The U.S. Federal Reserve kept interest rates unchanged on Wednesday and signalled rate cuts could start as early as July, offering respite to investors who have been uneasy about by weak economic data and global trade tensions.

FTSE 100 component Fresnillo FRES.L surged nearly 7%, its biggest one-day gain in eight months, as gold prices hit their highest in more than five years after the Fed statement pressured the dollar.

Among midcaps, Dixons Carphone DC.L plunged 23.5% after it warned of a big drop in profit for the current year while reporting a slump in full-year profit as it struggles with a fierce mobile phone market.

Homewares retailer Dunelm DNLM.L climbed 4.3% after it raised its annual earnings target for the second time in just over two months, capping off a year in which it saw a surge in online orders.

(Reporting by Muvija M in Bengaluru; Editing by Bernard Orr)

((Muvija.M@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 3638; Reuters Messaging: muvija.m.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest Renewable Energy Videos

BlackRock's Giordano Sees More Activity and Opportunities in Renewable Power

David Giordano, BlackRock's global head of renewable power, and Lale Topcuoglu, J O Hambro senior fund manager and head of credit, discuss the trends in the renewable power market and investing in green bonds with Bloomberg's Alix Steel

Feb 18, 2020

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More