FTSE 100 makes gains as Deliveroo slumps further, Sensex rises over 400 points
Deliveroo stock plunged over 25% on debut
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.London’s FTSE 100 rose 0.5 per cent after opening on Thursday, buoyed by hopes of a swifter economic rebound.
Mining stocks, including Rio Tinto, Anglo American and BHP, were among the biggest gainers. Fashion retailer Next rose 4.2 per cent, even after it reported a halving in annual pretax profit after stores were ordered to close during the pandemic.
The index of leading shares recovered some of the 0.9 per cent losses in Wednesday’s trading session, which saw food delivery company Deliveroo - which is not part of the FTSE 100 - plunge massively on its stock market debut.
All eyes were on Deliveroo’s stock, which opened well below the initial public offering price, falling as low as 271 pence. The company had priced its IPO at 390 pence per share, giving it a valuation of £7.6bn, less than initially expected.
After paring some of its losses, Deliveroo fell again after markets opened on Thursday.
Asian stock markets followed Wall Street higher big tech rallied and as President Joe Biden announced a multi-trillion-dollar infrastructure investment plan.
The Indian markets opened higher on Thursday with the BSE Sensex opening 0.8 per cent up, with a gain of over 400 points trading over 49,910 by lunchtime, while Nifty started with a gain of over 100 points.
The Sensex slumped 627 points yesterday at 49,509 while the Nifty fell 154 points to settle at 14,690.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments