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SharePrice.com - UK Share Information - Saturday, 23rd May 2015

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FTSE Gains on Miner Rally


Friday, 22nd May 2015

The UKs oil and gas index gained one percent as crude oil prices rose for the second day in a row, bolstered by expectations that the current surplus of oil supply is easing due to fighting in Iraq. This news helped to boost Royal Dutch Shell by 0.8 percent, and BP by 1.4 percent respectively.

Miners also posted gains, with BHP Biliton and Antofagasta both rising by 0.7 percent after Chinese factory activity shrank for the third month in a row. The weakness feeds expectations that the Chinese government will soon invest in stimulus measures to encourage more borrowing and lending.

David Madden, an analyst at IG, explained that in this instance investors are taking the view that bad news can be good news - China is expected to launch some aggressive stimulus measures in a bid to meet its current growth targets.

Overall, the FTSE 100 closed up by 0.1 percent, at 7,013.47 points - putting it less than two percent below its record high of 7,122.74, which it reached in April. The index has gained about seven percent since the start of the year and the current near-term target is for the FTSE 100 to stabilise around the 7,100 mark. This is a target that most investors agree is achievable in the short term.


Read previous editors articles here


Stock Market Update

Friday, 22nd May 2015

FTSE indices headed into the bank-holiday weekend on a upbeat note, the mid cap once again hitting a fresh closing high. The market took speeches by several central bank bosses ...
Friday, 22nd May 2015

FTSE indices firmed to midday with mining, pharmaceutical and retail stocks providing direction as the market assesses comments by ECB president Mario Draghi and looks to speeches by BoE governor ...
Friday, 22nd May 2015

FTSE indices tracked higher on opening with retail, mining, oil and pharmaceutical stocks paving the way. Severn Trent (SVT) was firmly southbound as its FY results disappointed. Wall St and ...

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