FTSE 100 in green despite economic contraction

August 12, 2022 02:17 PM BST | By Abhishek Sharma
Follow us on Google News:

UK Market: The UK stock market traded in positive territory on Friday despite the latest numbers showing an economic contraction. In the afternoon, the benchmark FTSE 100 was trading 0.30% higher, while the FTSE 250 was 0.25% higher. This came as the Office for National Statistics reported a 0.1% contraction in the Gross Domestic Product (GDP) between April and June. In June alone, the GDP shrank by 0.6%. On a quarterly basis, the output declined for the first time since last year. 

Flutter Entertainment PLC (LON: FLTR): The Irish bookmaking holding firm was among the top gainers at the FTSE 100 after it reported an adjusted EBITDA of £476 million for the first half of 2022. The firm generated revenue of £3.4 billion during the period.

Kingfisher PLC (LON: KGF): Shares of the FTSE 100-listed home improvement company slipped over 2% after its rating was downgraded by investment bank UBS following weak industry data.

Dunelm Group PLC (LON: DNLM): Shares of the British home furnishings retailer came under pressure after its rating was also downgraded by UBS. As of 1:37 pm GMT+1 on Friday, the shares were down 1.90%.

US Markets: The US market is likely to get a flat start, as indicated by the futures indices. S&P 500 future was down by 2.97 points or 0.07% at 4,207.27, while the Dow Jones 30 future was up by 0.08% or 27.16 points at 33,336.67. The technology-heavy index Nasdaq Composite future was also down by 0.58% or 74.89 points, at 12,779.91. (At the time of writing – 9:03 am ET).

US Market News:

Shares of the American digital-first consumer goods firm Honest Company (HNST) climbed 1.6% in the premarket trading session despite its higher-than-expected quarterly loss. The firm also expects a wider loss than the earlier forecast for the full year due to the cost pressures.

Shares of the American electric vehicle automaker Rivian Automotive (RIVN) tumbled 1% in the premarket trading session after it raised its loss estimate for this year. The firm also affirmed its previous production guidance.

European Indices Performance (at the time of writing):

FTSE 100 Index One Year Performance (as on 12 August)

(Source: Refinitiv)

Top 3 Volume Stocks in FTSE 100*: Lloyds Banking Group plc (LLOY), Centrica Plc (CNA), Haleon Plc (HLN)

Top 3 sectors traded in red*:  Basic Materials (-0.45%), Industrials (-0.30%) Technology (-0.23%)

Top 3 sectors traded in green*: Healthcare (1.90%), Consumer Cyclicals (1.28%), Utilities (0.90%)

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 $98.16/barrel and $92.88/barrel, respectively.

Gold Price*: Gold price was quoting at US$ 1,803.70 per ounce, down by 0.19% against the prior day closing.

Currency Rates*: GBP to USD: 1.2141; EUR to USD: 1.0285.

Bond Yields*: US 10-Year Treasury yield: 2.862%; UK 10-Year Government Bond yield: 2.0875%.

*At the time of writing


The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Limited, Company No. 12643132 (Kalkine Media, we or us) and is available for personal and non-commercial use only. Kalkine Media is an appointed representative of Kalkine Limited, who is authorized and regulated by the FCA (FRN: 579414). The non-personalised advice given by Kalkine Media through its Content does not in any way endorse or recommend individuals, investment products or services suitable for your personal financial situation. You should discuss your portfolios and the risk tolerance level appropriate for your personal financial situation, with a qualified financial planner and/or adviser. No liability is accepted by Kalkine Media or Kalkine Limited and/or any of its employees/officers, for any investment loss, or any other loss or detriment experienced by you for any investment decision, whether consequent to, or in any way related to this Content, the provision of which is a regulated activity. Kalkine Media does not intend to exclude any liability which is not permitted to be excluded under applicable law or regulation. Some of the Content on this website may be sponsored/non-sponsored, as applicable. However, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music/video that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music or video used in the Content unless stated otherwise. The images/music/video that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Top LSE Listed Companies