Day: November 5, 2021

FTSE closes above 7,300, GBP sinks for second day after BoE By

© Reuters.

Key Points

  • FTSE 100 closing price of 7305.29, +0.4%
  • FTSE closes above 7,300 for the first time since Feb 2020
  • IAG trades higher after earnings
  • Travel & Leisure sector benefits from Pfizer pill
  • Nonfarm Payrolls smashes expectations, upward revisions
  • GBP trades lower for the second day after BoE surprise
  • Oil ends week on a high
  • Cryptocurrencies steady heading into the weekend

By Samuel Indyk – The edged higher on Friday and closed above 7,300 for the first time since February 2020 as strong and a less hawkish than expected on Thursday continue to support UK stocks.

British Airways parent IAG (LON:) was one of the better-performing stocks in the UK after the company reported earnings pre-market. The airline recorded a loss of €452 million in the third quarter but sounded cautiously optimistic on the return of transatlantic travel in the coming months.

“The reopening of the transatlantic

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