FTSE 100 Inched Higher by 0.88% on Robust Earnings Announcements

US Markets: Broader indices in the United States traded in green - particularly, the S&P 500 index traded 27.56 points or 0.63 per cent higher at 4,428.20, Dow Jones Industrial Average Index surged by 214.94 points or 0.62 per cent higher at 35,145.87, and the technology benchmark index Nasdaq Composite traded higher at 14,820.10, up by 57.60 points or 0.39 per cent against the previous day close (at the time of writing – 12:30 PM ET).

US Market News: The major indices of Wall Street traded in a green zone after the release of US GDP figures. Among the gaining stocks, Ford Motor (F) shares went up by around 3.82% after the Company had delivered a surprise quarterly profit. Comcast (CMCSA) shares grew by about 0.99% after the Company reported quarterly adjusted earnings more than the consensus estimates. Among the declining stocks, Paypal (PYPL) shares dropped by about 5.48% after the Company had given lower-than-expected outlook. Facebook (FB) shares fell by about 4.02% after the Company warned that revenue would slow down in the second half of the year.

UK Market News: The London markets traded in a green zone after the release of encouraging UK Mortgage data. The British mortgage lending had shown a record surge during June 2021 as it had shown a net increase of around 17.9 billion pounds from the prior month.

FTSE 100 listed Lloyds Banking Group shares went down by about 1.24%, even after the Company had swung into interim profit for the first half after reporting significant loss for the prior year’s period.

Caterer Compass Group shares went up by around 3.67% after the Company had expected fourth quarter trading to remain around 80% to 85% of the pre-pandemic levels.

Diageo had delivered a robust growth in the profitability during the first half. However, it remained cautious regarding the near-term volatility. Furthermore, the shares grew by around 1.29%.

BAE Systems shares rose by around 2.18% after the Company had increased the dividend and announced a 500 million pounds share buyback programme.

European Indices Performance (at the time of writing):

FTSE 100 Index One Year Performance (as on 29 July 2021)

1 Year FTSE 100 Chart (Source: Refinitiv)

Top 3 Volume Stocks in FTSE 100*: Lloyds Banking Group Plc (LLOY); Vodafone Group Plc (VOD); BT Group Plc (BT.A).

Top 3 Sectors traded in green*: Energy (+3.21%), Basic Materials (+2.45%) and Industrials (+1.09%).

Top 3 Sectors traded in red*: Technology (-1.30%), Utilities (-1.04%) and Real Estate (-0.19%).

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 $74.95/barrel and $73.44/barrel, respectively.

Gold Price*: Gold price was quoting at US$ 1,830.30 per ounce, up by 1.70% against the prior day closing.

Currency Rates*: GBP to USD: 1.3968; EUR to GBP: 0.8512.

Bond Yields*: US 10-Year Treasury yield: 1.271%; UK 10-Year Government Bond yield: 0.5755%.

*At the time of writing

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