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UK Market News: The UK stock market was muted on Thursday, with blue-chip FTSE 100 index trading at flat after the Bank of England (BoE) has raised UK interest rates for the sixth consecutive months by 50 basis points to 1.75%, biggest interest rate in 27 years. The BoE warned that the UK is set to fall into its longest recession since the financial crisis and inflation may hit over 13% as energy prices continue to soar.
Rolls-Royce Holdings Plc (LON: RR.): The share of multinational aerospace and defence company, Rolls-Royce were down by around 8%, with a day’s low of GBX 79.80. The company said it would see its squeezed operating profit margin improve in the second half.
Go-Ahead Group Plc (LON: GOG): The share of passenger transport company, Go-Ahead Group Plc were up by 2.67%, with a day’s high of GBX 1,544.00. The company has agreed to an improved £669 million takeover from the consortium consisting of Australia’s Kinetic Holding Company Pty. Ltd. And Spain’s Globalvia Inversiones SAU.
Mondi Plc (LON: MNDI): The share of multinational packaging and paper group, Mondi Plc were down by around 5.5%, with a day’s low of GBX 1,570.50. The company has reported a significant rise in first-half pre-tax profit and revenue on margin expansion, good selling prices and strong cost control.
US Markets: The US market is likely to get a mixed start as suggested by future indices. S&P 500 future was down by 5.32 points or 0.08% at 4,151.29, while the Dow Jones 30 futures was down by 0.12% or 37.85 points at 32,774.65. The technology-heavy index Nasdaq Composite future was up by 0.01% at 13,257.00 (At the time of writing – 9:30 AM ET).
US Market News:
The share of American pharmaceutical company, Eli Lilly (LLY) fell by 3.6% in the premarket trading session after it missed estimates with its quarterly results and cut its full year forecast. During the quarter Its performance was impacted by lower prices from insulin and falling sales of its Covid-19 treatment.
The share of insurance company, Cigna (CI) rose by 2.6% in the premarket trading session, after it reported better-than-expected profit and revenue for the second quarter and raised its full-year outlook.
European Indices Performance (at the time of writing):
FTSE 100 Index One Year Performance (as on 4 August 2022)
(Source: EODHD/Others)
Top 3 Volume Stocks in FTSE 100*: Lloyds Banking Group plc (LLOY), Rolls-Royce Holdings Plc, Barclays Plc.
Top 3 Sectors traded in green*: Basic Material (1.41%), Energy (1.17%) and Healthcare (1.07%).
Top 3 Sectors traded in red*: Consumer Non-Cyclicals (-0.21), Industrials (-0.14%), Financials (-0.07%).
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 $97.06/barrel and $91.33/barrel, respectively.
Gold Price*: Gold price was quoting at US$ 1,798.85 per ounce, up by 1.25% against the prior day closing.
Currency Rates*: GBP to USD: 1.2123; EUR to USD: 1.0180.
Bond Yields*: US 10-Year Treasury yield: 2.8582%; UK 10-Year Government Bond yield: 1.8450%.
*At the time of writing
