FTSE 100 Rebounds Amid Geopolitical Tensions and Entain's Surge
London's FTSE 100 rose, driven by Entain's robust earnings forecast, while geopolitical tensions in the Middle East soared. The blue-chip index climbed 0.5%, led by Entain's 11.5% jump. Iran-Israel conflict fears and G7 economic discussions create global uncertainty, affecting oil prices and focusing on central banks' monetary policy decisions.
The FTSE 100 index in London experienced a rebound on Monday, with investment driven by a positive earnings forecast from gaming giant Entain, despite ongoing geopolitical tensions in the Middle East.
At 1034 GMT, the FTSE 100 was up by 0.5%, while the FTSE 250 also gained 0.7%. Entain led the surge with an 11.5% increase, attributed to its BetMGM arm raising forecasts for revenue and earnings. The travel and leisure subindex also benefited, climbing 2.2%.
Meanwhile, tensions between Israel and Iran continue to rise, impacting global markets. The escalation comes ahead of the G7 meeting, set to tackle trade and economic uncertainties exacerbated by shifting tariffs. Focus will also be on upcoming monetary policy decisions from the Bank of England and U.S. Federal Reserve.
(With inputs from agencies.)
ALSO READ
ONGC's downstream gains to cushion impact of lower oil prices: S&P Global Ratings
55th Watch and Jewellery Middle East Show concludes with 87000 visitors
Wall Street drifts higher as oil prices jump and US manufacturing slumps
Relief for households as edible oil prices set to dip after import duty cut
Bisleri International Ventures into Middle East and Africa with Apparel Group Partnership
Google News