logo

Britain's main share index steady

Tuesday, 5 April 2022


April 4 (Reuters) - Britain's main share index held steady on Monday, with investors buying into defensive stocks as talks of more sanctions against Russia over its invasion of Ukraine kept risk appetite in check.
The blue-chip FTSE 100 (.FTSE) was up 0.1% after kicking off the second quarter on Friday with modest gains. The domestically focussed mid-cap index (.FTMC) was flat.
Drugmaker AstraZeneca (AZN.L) rose 0.9%, while precious metals and defence stocks topped sectoral gains, climbing 2.6% and 1.7% respectively.
Germany's defence minister said the European Union must discuss banning the import of Russian gas after Ukrainian and European officials accused Russian forces of committing atrocities near Kyiv.
Oil prices steadied above $105 a barrel after falling in early trade. Surging commodity prices have raised concerns about inflation and tighter monetary policies, but the FTSE 100 has remained resilient this year due to the presence of large energy and mining companies on the index.
Investors will look for clues on the pace of interest rate hikes when Bank of England Governor Andrew Bailey and his deputy speak later in the day.