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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Economy

Economy

FTSE 100 surges as US avoids debt; Dechra hits 2-week high

The London Stock Exchange Group offices in the City of London,
The London Stock Exchange Group offices in the City of London, Britain, December 29, 2017. REUTERS/T... The London Stock Exchange Group offices in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville/File Photo
The London Stock Exchange Group offices in the City of London,
The London Stock Exchange Group offices in the City of London, Britain, December 29, 2017. REUTERS/T... The London Stock Exchange Group offices in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville/File Photo

After the U.S. Senate passed a debt default deal, the U.K.’s FTSE 100 surged, and Dechra Pharmaceuticals’ shares rose to a two-week high.

Dechra (DPH.L) surged 8.2% after EQT agreed to buy it for 4.46 billion pounds ($5.62 billion), lifting the domestically oriented FTSE 250 (.FTMC) 0.7%.

After the U.S. raised its $31.4 trillion debt ceiling and investors hoped the Federal Reserve would hold rates, the internationally focused FTSE 100 (.FTSE) rose 0.5%, reflecting global investor confidence.

Energy exporters (.FTNMX601010) and industrial metals miners (.FTNMX551020) rose 1.3% and 2.2%, respectively, as commodity prices rose.

If losses continue, the FTSE 100 might fall for a second week. On the other hand, mid-cap FTSE 250 will rise somewhat.

 


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