FTSE 100 closes near flatline as energy stocks fall and insurers advance, Sensex up by 200 points

AstraZeneca stocks surge 1.3 per cent after reports of Thailand using it as vaccine second dose

London shares edged higher but stay close to flatline as Covid fears linger on (Getty)

London’s FTSE 100 managed to close slightly above the flatline after lagging in most of the session as energy and mining stocks fell, while concerns related to rising coronavirus cases also worried investors.

The blue-chip index ended just 3 points or just 0.1 per cent above, helped by gains in insurance stocks, mainly Admiral Group, which surged almost 4 per cent.

AstraZeneca also gave a major boost to the FTSE 100 after brokerage Jefferies raised its price target on the stock, while Thailand said it would use the drugmaker’s vaccine as a second dose for those who received Sinovac’s shot as their first dose in a bid to increase protection.

The domestically focussed mid-cap FTSE 250 index inched 0.1% lower with travel and leisure stocks falling the most.

Meanwhile, US stocks also edged higher as investors look ahead to a second quarter earnings week, with S&P touching a new high and all three leading indices close in green.

The Dow Jones Industrial Average rose 126 points, or 0.4 per cent to 34,996. The S&P 500 added 0.3 per cent to 4,385, also a record close. The Nasdaq Composite traded 0.2 per cent to a new closing high of 14,733.

Asian stocks also followed Wall Street on Tuesday and tracked gains, as China, Japan and other leading markets traded in the green. The Shanghai Composite Index rose 0.1 per cent, and the Nikkei 225 in Tokyo gained 0.5 per cent. The Hang Seng in Hong Kong added 1.5 per cent.

Indian indices opened higher with Sensex up by 200 points and Nifty nearing 15,800 as heavyweight Reliance and ICICI lead gains.