The market ends late on Wednesday
London’s largest market rose because of the need for travel companies to quarantine upon arrival due to their decision to cancel full vaccination of US and EU travelers.
Prior to the announcement, a series of positive earnings announcements had uplifted traders, which helped to inspire some companies that have recently been under pressure to enter the green market.
The FTSE 100 index closed 20.55 points or 0.29% higher on Wednesday to close at 7,016.63.
Susannah Streeter, senior investment and market analyst at Hargreaves Lansdown, said: “With the confirmation by the UK Minister of Transport, dual shock entrants from the United States and the European Union will no longer have to be isolated.
“The speculation about an impending decision has pushed up the stock of British Airways owner IAG, which relies heavily on transatlantic bookings.
“Rolls-Royce is also one of the risers in the FTSE 100 index because the main business of the group comes from servicing and delivering wide-body aircraft engines, which are mainly used for long-distance flights.”
In the FTSE 250 Index, Ryanair, EasyJet, Wizz Air, and travel catering service provider SSP all took a positive wave to close.
Elsewhere in Europe, other major markets have also made progress, recovering after the beginning of the trading week cautiously.
The German Dax index rose 0.33%, and the French Cac index rose 1.18%.
On the other side of the Atlantic, the U.S. markets were also encouraged by the earnings results, as they rose slightly before the recent Federal Reserve meeting.
At the same time, as the decline in the number of Covid cases helped the pound continue to rebound against the weak dollar, the pound climbed.
The pound rose 0.1% to 1.388 against the dollar and 0.02% to 1.175 against the euro.
In terms of company news, Barclays Bank’s stock price rose after its profits in the first six months of this year far exceeded expectations, as it released funds reserved during the first Covid-19 attack.
The bank said its pre-tax profit soared to 5 billion pounds, so it announced a dividend of 2 pence per share to shareholders, higher than the expected 1.8 pence payment.
On Wednesday, the stock closed up 3.38 pence to 172.76 pence.
Although ITV opened higher after saying that the worst period of the pandemic had passed, it still fell to a loss at the close.
However, as the lack of interim dividends weakened investor sentiment, its value fell sharply.
It ended the session 1.6p with 117.75p.
Recruitment company Staffline rebounded higher because it forecasted an increase in gross profit in the past six months, and revenue is expected to increase by 4.7% to 450.7 million pounds over the same period last year.
The company’s share price rose 6.4 pence to 64.6 pence.
Due to the decline in crude oil inventories, oil prices rose to their highest level in the past two weeks.
Brent crude oil rose 0.39% to US$74.77 per barrel.
The biggest gainers in the FTSE 100 Index were Fresnillo, which rose 52.4p to 806.4p, St James’s Place, which rose 84.5p to 1,592.5p, IAG, which rose 6.6p to 181.92p, and Rolls-Royce, which rose 3.43p to 106.5p, Rose 3.43p to 106.5p
The biggest drop on the day was Reckitt, which fell 181p to 5,519p, HSBC fell 6.7p to 396.6p, ITV fell 1.6p to 117.75p, and BAT fell 36.5p to 2,734p.
