Did FTSE 100 trade lower due to fears of higher inflation; Enquest stock soared by 12.43%

  • February 22, 2021 09:09 PM GMT
  • Team Kalkine
Did FTSE 100 trade lower due to fears of higher inflation; Enquest stock soared by 12.43%

US Markets: Broader indices in the United States traded in red - particularly, the S&P 500 index traded 26.36 points or 0.67 per cent lower at 3,880.35, Dow Jones Industrial Average Index declined by 125.76 points or 0.40 per cent lower at 31,368.56, and the technology benchmark index Nasdaq Composite traded lower at 13,697.13, down by 177.34 points or 1.28 per cent against the previous day close (at the time of writing, before the US market close at 10:30 AM ET).

US Market News: The major indices of Wall Street traded in the red zone after the commodity prices growth. Among the gaining stocks, shares of Cooper Tire & Rubber Co went up by about 18.81% after the Company had agreed to be acquired by Goodyear Tire. Discovery Inc shares jumped by approximately 2.42% after it reported fourth-quarter revenue more than the estimates. DISH Network Corp shares surged by around 0.98% after the Company reported its quarterly earnings well ahead of the consensus estimate. Among the declining stocks, shares of Boeing plunged by about 2.65% after the failure of an engine on a United Airlines Boeing 777 jet.

US Stocks Performance*

UK Market News: The London markets traded in the red zone as investors were waiting for further information regarding the government’s plan for the phased easing of business restrictions. FTSE 100 traded lower by around 0.18% amid investors’ concern regarding a spike in inflation due to the rising commodity prices. According to market researcher Springboard, the number of Britain shoppers had increased by 6.8% during the week ended on 20 February 2021 as compared to its prior week.

Avacta Group had provided clarification regarding the press speculation for the usage of its SARS-CoV-2 rapid antigen test by the UK government. Moreover, the shares jumped by around 8.74%.

Directa Plus shares surged by approximately 10.39% after it had signed a strategic research & development agreement with NexTech Batteries.

Pub & Restaurant Group Mitchells & Butlers said that it had been burning approximately 35 million pounds of cash since the start of the year. Moreover, the Company had launched 350 million pounds through an equity placing to strengthen its balance sheet. The shares went down by around 1.70%.

Cryptocurrency Miner Argo Blockchain plunged by approximately 16.43% after the Company had signed an agreement with ePIC Blockchain Technologies to access the state-of-the-art mining rigs.

European Indices Performance (at the time of writing):

 

FTSE 100 Index One Year Performance (as on 22 February 2021)

           1 Year FTSE 100 Chart (Source: Refinitiv, Thomson Reuters)

Top 3 Volume Stocks in FTSE 100*: Lloyds Banking Group Plc (LLOY); BP Plc (BP.); International Consolidated Airlines Group SA (IAG).

Top Sector traded in green*: Energy (+2.20%).

Top 3 Sectors traded in red*: Technology (-1.58%), Consumer Non-Cyclicals (-1.46%) and Utilities (-1.26%).

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 $63.78/barrel and $60.94/barrel, respectively.

Gold Price*: Gold price was quoting at US$1,809.25 per ounce, up by 1.79% against the prior day closing.

Currency Rates*: GBP to USD: 1.4078; EUR to GBP: 0.8640.

Bond Yields*: US 10-Year Treasury yield: 1.359%; UK 10-Year Government Bond yield: 0.694%.

*At the time of writing

 

 


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