Another new record close for FTSE 100
Bitcoin slumps on South Korea clampdown
Irish oil explorers jump on possible new partnership
5:00pm: FTSE 100 sets new record high close
The FTSE 100 closed a predictably sleepy session more or less where it started, rising just 2 points to finish at 7,622.
It was a very minor victory, nonetheless, it sets a new record closing level - up from Wednesday’s 7,620 mark - so it probably still deserves a small toast.
US stocks opened on the front foot, led by energy stocks, as investors weighed data on jobless claims and the trade deficit.
On Wall Street, the Dow Jones was up 42 points, 0.17%, changing hands at around 24,816, meanwhile, the S&P 500 edged 0.05% to 2,684 and the Nasdaq added 0.12% to 6,947.
Bitcoin trading continued to be volatile, falling more than 8% to US$14,120.
The gold price moved 0.58% higher to US$1,294 per ounce, and in the oil market Brent crude was slightly lower at US$66.36 per barrel.
2.45pm: FTSE climbs as mining shares rally
The FTSE 100 edged up 6 points to 7,626 with mining shares among the top risers as a weaker dollar boosted commodity prices.
Anglo American, Rio Tinto and BHP Billiton gained as prices of precious metals rose. Commodity prices rose as the dollar fell against other major currencies on worries Donald Trump’s cuts to US corporation tax will push the country's deficit higher.
Across the Atlantic, US stocks opened higher, led by energy shares as oil prices stabilised near two-an-a-half-year highs.
Investors were also digesting data showing a strong US market with initial jobless claims unchanged at 245,000 last week.
Meanwhile, Bitcoin is still down 7% on the day since South Korea announced its clampdown on cryptocurrency trading.
10.30am: FTSE 100 flat, Bitcoin plunges
By mid-morning the FTSE 100 was still more or less flat, down 2 points at 7,618.
It comes after London’s blue-chip benchmark, and the FTSE 250, set new highs – pushing the index towards a strong end to the calendar year.
Elsewhere, the price of Bitcoin dropped around 7%, down to US$14,313, as South Korea took a stringent view on cryptocurrency regulation.
South Korea is said to account for 20% of the world’s bitcoin transactions, but, it is now banning anonymous accounts, and regulators have threatened to close exchanges if necessary.
In the UK, sofa seller DFS Furniture agreed to acquire the store leases and assets of Norfolk based Multiyork, which fell into administration back in November.
The deal is for eight stores, for £1.2mln. Six of the stores will operate under the Sofa Workshop brand, while the other two will be DFS stores.
Tesco Plc (LON:TSCO) remained in negative territory, albeit only slightly, as it continues to suffer negative PR over reports of “rancid” Christmas turkeys - it apologised and paid £75 vouchers to “furious” customers, and it emerged that the grocer could face an inquiry from the Food Standards Agency.
Lansdowne Oil & Gas shares strengthened much further, rising 154% to 2.1p, and Providence Resources was up more than 30%.
8:44am: FTSE 100 starts quiet Thursday trading higher
London’s FTSE 100 was trading in positive territory through Thursday’s early deals, up 3 points changing hands at 7,624.
Naturally, sandwiched between the two public holidays trading volumes this week remain low.
There was no FTSE 100 constituent news of note, and baring a new contract award for Bgeo Group Plc (LON:BGEO) and an acquisition for the Tritax Big Box REIT (LON:BBOX) there was little to report for those in the FTSE 250.
Nonetheless, there were a couple of movers in the junior market.
Irish oil and gas explorers Providence Resources PLC (LON:PVR) and Lansdowne Oil & Gas Plc (LON:LOGP) were boosted by potential new farm-out news for the Barryroe oil field – with a would-be partner signing an exclusivity deal in order to continue commercial negotiations.
Providence and Lansdowne shares rise, as Barryroe farm-out apparently moves closer - unnamed potential partner has signed for exclusivity, negotiations continue ahead of new 2018 drilling https://t.co/Bcj5WF1LnU
— Jamie Ashcroft (@JAshcroft1984) December 28, 2017
Lansdowne shares rocketed 40% on the news, whilst Providence advanced almost 8%.
TyraTech Inc (LON:TYR) shares gained around 10% after the group confirmed the sale of the Vamousse branded hair lice treatment was approved by shareholders at an AGM yesterday, and the US$17.5mln deal will now proceed with immediate effect.
The acquirer Alliance Pharma plc (LON:APH), meanwhile, edged slightly higher in early deals.
"The completion of this acquisition provides Alliance a third International star brand with best in class technology,” said John Dawson, Alliance Pharma chief executive.