FTSE 100 bounces back, banking and energy take the lead

Be the First to Comment Read

FTSE 100 bounces back, banking and energy take the lead

 FTSE 100 bounces back, banking and energy take the lead
Image source: Copyright © 2021 Kalkine Media Pty Ltd.

UK Market News: The UK stock market moved higher on Friday, with the blue-chip FTSE100 index gaining over 1.5 per cent. In a volatile week of trade, the FTSE 100 index has made a smart bounce back as investors got back into a buying mood despite soaring inflationary concerns and fears of a recession. The gains were led by banking stocks and oil stocks, as oil prices have soared again amid supply chain bottlenecks due to geopolitical tensions.

Dechra Pharmaceuticals PLC (LON: DPH): The shares of the veterinary pharmaceuticals business, Dechra Pharmaceuticals PLC, were up by 4.64%, with a day’s high of GBX 3,294.00. As per the recently released Global Pet Oral Care Products Market Report, substantial growth might be witnessed in this market by 2029, and Dechra Pharmaceuticals is a market leader.

Coca-Cola HBC AG (LON: CCH): The shares of the leading Swiss-based beverage producer, Coca-Cola HBC AG, was up by 4.25%, with a day’s high of GBX 1,758.50. The company has reported a rise in its quarterly revenues by 26%, excluding its Russian and Ukrainian business, and has declared that it would reduce its presence in Russia due to the war.

Vodafone Group Plc (LON: VOD): The shares of the UK-based telecommunications firm, Vodafone Group plc, were down by 1.38%, with a day’s low of GBX 117.06. The company has been holding discussions to merge its UK operations with Three UK, which is owned by CK Hutchison Holdings.

US Markets: The US market is expected to have a decent start, as indicated by the futures indices. S&P 500 future was up by 54.54 points or 1.39% at 3,981.75, while the Dow Jones 30 future was up by 1.01% or 320 points at 31,972.00. The technology-heavy index Nasdaq Composite future was also up by 1.94% or 231.50 points, at 12,181.25. (At the time of writing – 8:45 AM ET).

The shares of the US-based social network firm Twitter (TWTR), went down by over 14.0% in the premarket trading session. This happened after a tweet by Elon Musk regarding putting the takeover deal on hold and awaiting information related to the fake accounts on the platform.

The shares of the financial technology firm, Affirm Holdings (AFRM), gained over 33.0% in the premarket trading session. The company reported less-than-expected quarterly losses while raising its revenue guidance. It has also declared that its current partnership with Shopify will be extended further.

European Indices Performance (at the time of writing):

 European Indices Performance

FTSE 100 Index One Year Performance (as on 13 May 2022)

1 Year FTSE 100 Chart

(Source: Refinitiv)

Top 3 Volume Stocks in FTSE 100*: Lloyds Banking Group plc (LLOY), Vodafone Group Plc (VOD), NatWest Group plc (NWG)

Top 3 Sectors traded in green*: Healthcare (2.52%), Financials (2.11%), Energy (1.93%)

Top sector traded in red*: Technology (-0.16%)

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

                                                  Stock Performance On LSE

Crude Oil Future Prices*: Brent future crude oil (future) price and WTI crude oil (future) price were hovering at $109.99/barrel and $108.87/barrel, respectively.

Gold Price*: Gold price was quoted at US$ 1,801.00 per ounce, down by 1.27% against the prior day’s closing.

Currency Rates*: GBP to USD: 1.2176; EUR to USD: 1.0371.

Bond Yields*: US 10-Year Treasury yield: 2.906%; UK 10-Year Government Bond yield: 1.7305%.

*At the time of writing


Speak your Mind

Featured Articles