FTSE 100 Trades Steady, Helped by Gains For Miners, Oil Stocks -- Market Talk

Dow Jones01-23

0919 GMT - The FTSE 100 trades steady at 7487.19, slightly outperforming weaker European stocks and propped up by gains for heavyweight mining and oil stocks as crude-oil prices tick higher though the previous day's positive sentiment dims. "Positive sentiment appears to be clinging on," Susannah Streeter, head of money and markets at Hargreaves Lansdown, says in a note. Among miners, Anglo American rises 2.8%, Glencore gains 2.1% and Rio Tinto is up 1.8%, while oil giant BP rises 1.3%. AB Foods rises 0.3% after it backed fiscal 2024 expectations for retail arm Primark. However, concern over a weak outlook for luxury goods sees Burberry fall 1.3% while hotel groups Whitbread and InterContinental Hotels fall 1.4% and 1.2%, respectively. (jessica.fleetham@wsj.com)

(END) Dow Jones Newswires

January 23, 2024 04:19 ET (09:19 GMT)

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AB Foods rises 0.3% after it backed fiscal 2024 expectations for retail arm Primark. However, concern over a weak outlook for luxury goods sees Burberry fall 1.3% while hotel groups Whitbread and InterContinental Hotels fall 1.4% and 1.2%, respectively. 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