Marks & Spencer shares surge in otherwise sluggish London market

Marks & Spencer shares surge in otherwise sluggish London market

London stocks were generally lower on Wednesday, with heavily weighted HSBC dragging the index lower, along with British Land, though Marks & Spencer was a bright spot after well-received results.

The FTSE 100 index  dipped 0.1% to 7,019.67, while the yield on 10-year U.K. gilts fell 3 basis points to 0.76%. A steepening yield curve helps banks borrow more cheaply and then lend at higher rates of interest. A falling yield curve works in the opposite way.

Investors have been carefully watching central banks for signs that they might start backing away from accommodative policies put in place to combat the pandemic. The Federal Reserve has been out in front with comments to reassure investors over inflation.

The FTSE MIB climbed down by 0.46% to 24,778.04. In the cash markets, the DAX futures Germany was trading down 0.09%  to 15,450.17. CAC 40 futures in France rose by 0.02% to 6,391.60 while the FTSE 100 futures in the U.K. was down by 0.04% to 7,026.93 ,at the time of writing.

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