AGL 40.21 Increased By ▲ 0.18 (0.45%)
AIRLINK 127.64 Decreased By ▼ -0.06 (-0.05%)
BOP 6.67 Increased By ▲ 0.06 (0.91%)
CNERGY 4.45 Decreased By ▼ -0.15 (-3.26%)
DCL 8.73 Decreased By ▼ -0.06 (-0.68%)
DFML 41.16 Decreased By ▼ -0.42 (-1.01%)
DGKC 86.11 Increased By ▲ 0.32 (0.37%)
FCCL 32.56 Increased By ▲ 0.07 (0.22%)
FFBL 64.38 Increased By ▲ 0.35 (0.55%)
FFL 11.61 Increased By ▲ 1.06 (10.05%)
HUBC 112.46 Increased By ▲ 1.69 (1.53%)
HUMNL 14.81 Decreased By ▼ -0.26 (-1.73%)
KEL 5.04 Increased By ▲ 0.16 (3.28%)
KOSM 7.36 Decreased By ▼ -0.09 (-1.21%)
MLCF 40.33 Decreased By ▼ -0.19 (-0.47%)
NBP 61.08 Increased By ▲ 0.03 (0.05%)
OGDC 194.18 Decreased By ▼ -0.69 (-0.35%)
PAEL 26.91 Decreased By ▼ -0.60 (-2.18%)
PIBTL 7.28 Decreased By ▼ -0.53 (-6.79%)
PPL 152.68 Increased By ▲ 0.15 (0.1%)
PRL 26.22 Decreased By ▼ -0.36 (-1.35%)
PTC 16.14 Decreased By ▼ -0.12 (-0.74%)
SEARL 85.70 Increased By ▲ 1.56 (1.85%)
TELE 7.67 Decreased By ▼ -0.29 (-3.64%)
TOMCL 36.47 Decreased By ▼ -0.13 (-0.36%)
TPLP 8.79 Increased By ▲ 0.13 (1.5%)
TREET 16.84 Decreased By ▼ -0.82 (-4.64%)
TRG 62.74 Increased By ▲ 4.12 (7.03%)
UNITY 28.20 Increased By ▲ 1.34 (4.99%)
WTL 1.34 Decreased By ▼ -0.04 (-2.9%)
BR100 10,086 Increased By 85.5 (0.85%)
BR30 31,170 Increased By 168.1 (0.54%)
KSE100 94,764 Increased By 571.8 (0.61%)
KSE30 29,410 Increased By 209 (0.72%)

LONDON: London’s FTSE 100 stock index closed higher on Tuesday, recouping earlier losses as strong results from medical products maker Smith+Nephew and gains in industrial stocks countered concerns relating to the Russia-Ukraine crisis.

The FTSE 100 ended 0.1% higher, with industrials up 0.8% to lead gains, while miners advanced 0.4% tracking stronger metal prices.

Smith+Nephew surged 7.5% and was the top boost on the index after naming Siemens Healthineers’ Deepak Nath its new chief executive, while Holiday Inn owner IHG gained 4.2% as its annual profit beat estimates.

The domestically focussed mid-cap index shed 0.5%, its fifth session of declines amid geopolitical tensions.

The United States and its European allies started to announce harsh new sanctions against Russia after President Vladimir Putin recognized two breakaway regions in eastern Ukraine and ordered troops to those regions.

“We’re in the headline-chasing market. Every time you see a headline that is a little bit positive or a little bit negative the markets gap up and down,” said Keith Temperton, a sales trader at Forte Securities.

Oil major BP, the largest foreign investor in Russia, fell 0.5% after Germany halted the Nord Stream 2 Baltic Sea gas pipeline project, designed to double the flow of Russian gas direct to Germany.

Shell gained 0.5% as oil prices rallied on fears of a supply disruption as Europe’s eastern flank stood on the brink of war.

The energy sub-index has gained 18.7% since the start of 2022 and has been the biggest boost to the benchmark FTSE 100 index.

Retail stockbroker Hargreaves Lansdown fell 15.6% after reporting a drop in half-year profit, hurt by lower interest rates and easing market volatility.

AstraZeneca fell 1.5% after Anglo-Swedish drugmaker said non-executive Chairman Leif Johansson will retire next year after serving 11 years in the role.

Comments

Comments are closed.