FTSE 100 moves higher as Treasury pledges to gold full-budget in Spring

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UK Market: The UK stock market was trading in the positive territory on Tuesday, with the blue-chip FTSE100 index gaining over 0.2 per cent. Pound has bounced from record lows hit in response to UK chancellor’s tax-slicing mini budget. The index made modest gains following the Treasury vowing to hold a full Budget in the spring. Meanwhile, the Bank of England said that it was keeping closely observing the markets and that it will not be reluctant to lift rates further.

Burberry Group Plc (LON: BRBY): The shares of the UK’s luxury fashion house, Burberry Group Plc, were up by 4.19%, with a day’s high of GBX 1,726.50. Burberry CFO has recently been poached by GSK to create all-female top team.

Antofagasta plc (LON: ANTO): The shares of the Chilean copper miner, Antofagasta plc, were up by 2.57%, with a day’s high of GBX 1,077.00. Chile has recently paused Antofagasta’s desalination project due to environmental disputes.

Flutter Entertainment plc (LON: FLTR): The shares of the Irish bookmaking holding firm, Flutter Entertainment plc, were up by 2.50%, with a day’s high of GBX 10,270.00. A part of the company, FanDuel, has joined the leading online gaming operators across the US in responsible gaming standards.  

US Markets: The US market is likely to get a decent start, as indicated by the futures indices. S&P 500 future was up by 50 points or 1.36% at 3,720.25, while the Dow Jones 30 future was up by 1.07% or 314 points at 26,662.00. Meanwhile, the technology-heavy index Nasdaq Composite future was also up by 1.69% or 191.75 points, at 11,506.50. (At the time of writing – 9:00 AM ET).

The shares of the Chinese EV manufacturer, jumped up by 0.5% in the premarket trading session. This happened despite the company cutting back on its third-quarter delivery guidance by 9%, or by 2,500 vehicles.

The shares of tech giants Amazon, Apple, Alphabet and Microsoft, were up by about 1% in the premarket trading session. The shares bounced back after Treasury yields retreated on Tuesday morning.

European Indices Performance (at the time of writing):

FTSE 100 Index One Year Performance (as on 27 September)  


                                                             (Source: Refinitiv)

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

Top 3 sectors traded in red*: Real Estate (-2.06%), Utilities (-1.31%), Technology (-0.39%)

Top 3 sectors traded in green*: Basic Materials (2.09%), Consumer Cyclicals (0.79%), Consumer Non-Cyclicals (0.51%)

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 $84.58/barrel and $78.33/barrel, respectively.

Gold Price*: Gold price was quoting at US$ 1,644.85 per ounce, up by 0.70% against the prior day closing.

Currency Rates*: GBP to USD: 1.1076; EUR to USD: 0.9759

Bond Yields*: US 10-Year Treasury yield: 3.870%; UK 10-Year Government Bond yield: 4.3015%


*At the time of writing





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