FTSE 100 drops to a month’s low, Sensex opens higher

US stocks rebound breaking the three-day losing streak

FTSE 100 loses earlier gains to close below 7.000 (Getty Images )

London’s FTSE 100 dropped sharply on Thursday to its worst levels in almost a month, giving up earlier gains, however, witnessing some recovery from the day’s lows in the later half.

The blue-chip FTSE 100 closed down 0.6 per cent or 41 points dropping to 6,963. The FTSE 250 of mid-cap companies was also down 0.1 per cent at 22,069 points.

Across the pond, US stocks rebounded breaking the three-day losing streak, with the three main indexes closing higher. The rise came after data showed fewer Americans filed for weekly claims and investors shrugged off the inflation worries.

The Dow Jones Industrial Average rose 1.5 per cent the S&P 500 was up 1.4 per cent and the Nasdaq Composite jumped 1.3 per cent.

On Friday, Asian markets edged higher with positive global cues. In mid-session, Japan’s the Nikkei 225 jumped over 2 per cent while South Korea’s Kospi advanced 0.8 per cent. Mainland Chinese stocks also edged higher in morning trade, with the Shanghai composite rising 1.2 per cent. Hong Kong’s Hang Seng index gained almost 1 per cent.

Over in Australia, the S&P/ASX 200 climbed 0.7 per cent. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.3 per cent higher, down from 0.7 in early hours.

Indian stocks opened marginally higher on Friday buoyed by positive global cues and gains in metal, pharma and FMCG sectors. However, investors remained cautious of the economic impact of the pandemic as cases and fatalities continue to rise in the country. 

The Sensex was up 56 points at 48,747 while the Nifty rose 30 points to 14,727.