FTSE 100 loses momentum, drops over 1%

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FTSE 100 loses momentum, drops over 1%

 FTSE 100 loses momentum, drops over 1%
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UK Market: The UK stock market lost momentum on the final day of the week and, after three consecutive days of gains, turned lower with the benchmark index, FTSE100, declining by around 1.4%. OCADO Group Plc was the top loser (-6.86%) after the German court suspended proceedings related to the company’s intellectual property rights. The mid-cap focused FTSE 250 index was down by 0.80%.

Origo Partners Plc (LON: OPP): Shares of the private equity firm were up by over 23%, with a day’s high of GBX 0.19. In the last session, the company announced that it sold its entire stake in a gaming company, Six Waves Inc., for total consideration of USD 2,182,543. The company plans to return excess capital to its shareholders.

Oxford Biomedica Plc (LON: OXB): Shares of the leading cell and gene therapy group were down by over 8%, with a day’s low of GBX 820 after the company announced plans to raise gross proceeds of £80 million from existing shareholders and other institutional investors.

Carnival Plc (LON: CCL): Shares of the cruise line operator were down by over 6%, with a day’s low of GBX 1,292.80. The stock saw profit booking after three consecutive days of gains following the announcement of its full-year business update.

US Markets: The US markets are likely to open modestly in red as indicated by the future indices and sell-off in the global stock markets. S&P 500 futures were down by 7 points or 0.10% at 4,314, while the Dow Jones 30 futures were down by 0.32% or 105 points at 33,940. The technology-heavy index Nasdaq Composite future was up by 0.10% at 14,007 (At the time of writing – 8:50 AM ET).

US Market News:

Shares of the iPhone maker, Apple (AAPL), were up by 3.1% in premarket after announcing a positive quarterly business update despite supply chain issues. The company earned USD 2.10 per share, well above the consensus market forecast.

Shares of the apparel brand, VF Corp. (VFC), was down by 2% in premarket trading after the company stated that it anticipates lower full-year sales mainly due to supply chain issues and worker shortages.

Shares of the trading platform operator, Robinhood (HOOD), declined by over 13% after the company reported a quarterly loss of 49c per share.

European Indices Performance (at the time of writing):

European Indices Performance

FTSE 100 Index One Year Performance (as on 28 January 2022)

1 Year FTSE 100 Chart

(Source: Refinitiv)

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

Top 3 Sectors traded in red*:  Financials (-2.06%), Basic Materials (-1.76%), Consumer Non-Cyclicals (-1.43%),

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 $89.85/barrel and $88.29/barrel, respectively.

Gold Price*: Gold price quoted at US$ 1,785 per ounce, down by 0.42% against the prior day’s closing.

Currency Rates*: GBP to USD: 1.3421; EUR to USD: 1.1149.

Bond Yields*: US 10-Year Treasury yield: 1.821%; UK 10-Year Government Bond yield: 1.2765%.

*At the time of writing



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