FTSE 100 falls as inflation hit 40-year high again

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UK Market: The UK stock market was trading in the negative territory on Wednesday, with the blue-chip FTSE100 index losing over 0.2 per cent. This happened after the Office for National Statistics released the latest inflation figures today. Inflation in the country has returned to double digit growth following price hikes in food products and drinks, which lifted September’s annual inflation level to 10.1%. This is higher than August’s 9.9%, and thus the Bank of England is yet again under immense pressure to go for another rate hike soon.

International Consolidated Airlines Group S.A. (LON: IAG): The shares of the global airline holding firm, International Consolidated Airlines Group S.A., were up by 1.78%, with a day’s high of GBX 117.92. The company has recently released an optimistic Q3 guidance.

HSBC Holdings plc (LON: HSBA): The shares of the banking and financial services provider, HSBC Holdings plc, were up by 1.87%, with a day’s high of GBX 474.50. Two "green" ads of the bank have been banned for not including data about its own emissions.

BP plc (LON: BP.): The shares of the oil and gas giant, BP plc, were up by 1.28%, with a day’s high of GBX 450.95. The company has bought Archaea Energy Inc. for $4.1 billion.

US Markets: The US market is likely to get a sluggish start, as indicated by the futures indices. S&P 500 future was down by 24.50 points or 0.66% at 3,709.50, while the Dow Jones 30 future was down by 0.45% or 139 points at 30,436.00. Meanwhile, the technology-heavy index Nasdaq Composite future was also down by 0.54% or 60 points, at 11,138.75. (At the time of writing – 8:30 AM ET).

The shares of the consumer products giant, Procter & Gamble (PG), were up by 1.7% in the premarket trading session. This happened after the company reported better-than-expected quarterly earnings.

The shares of the power equipment maker, Generac (GNRC), were down by 16.8% in the premarket trading session. This happened after the company announced preliminary Q3 results that didn’t meet Wall Street projections.

European Indices Performance (at the time of writing):

FTSE 100 Index One Year Performance (as on 19 October)           

                                                  

                                                                       (Source: Refinitiv)

Top 3 Volume Stocks in FTSE 100*: Lloyds Banking Group plc (LLOY), Vodafone Group plc (VOD), Glencore plc (GLEN)

Top 2 sectors traded in green*:  Healthcare (0.71%), Energy (0.69%)

Top 3 sectors traded in red*: Real Estate (-3.34%), Consumer Cyclicals (-1.30%), Basic Materials (-0.81%)

London Stock Exchange: Stocks Performance (at the time of writing):

Crude Oil Future Prices*: Brent future crude oil (future) price and WTI crude oil (future) price were hovering at $90.94/barrel and $83.25/barrel, respectively.

Gold Price*: Gold price was quoting at US$ 1,638.35 per ounce, down by 1.05% against the prior day closing.

Currency Rates*: GBP to USD: 1.1232; EUR to USD: 0.9772

Bond Yields*: US 10-Year Treasury yield: 4.100%; UK 10-Year Government Bond yield: 4.0440%

*At the time of writing



 

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