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UK Market: The UK stock market was trading in the positive territory on Monday, with the blue-chip FTSE100 index gaining around 0.2 per cent. Energy and banking stocks were in the limelight amid the spiraling windfall tax speculations. Windfall tax on energy firms might reach 30% and continue till 2028. The shares in North Sea explorers BP, Shell, and Harbour Energy were down, while banking stocks including NatWest and Lloyds surged.
Shell plc (LON: SHEL): The shares of the oil and gas producing business, Shell plc, were down by 1.20%, with a day’s low of GBX 2,389.50. The company has announced that it will start a $4 billion share buyback programme.
Harbour Energy plc (LON: HBR): The shares of the oil and gas firm, Harbour Energy plc, were down by 0.56%, with a day’s low of GBX 371.90. This happened due to concerns about the extension of the levy on energy profits till 2028.
NatWest Group plc (LON: NWG): The shares of the British banking group, NatWest Group plc, were up by 3.29%, with a day’s high of GBX 232.30. This happened as reports circulated that the group won’t be targeted for extra taxes.
US Markets: The US market is likely to get a sluggish start, as indicated by the futures indices. S&P 500 future was down by 19 points or 0.49% at 3,893.00, while the Dow Jones 30 future was down by 0.46% or 150 points at 32,147.00. Meanwhile, the technology-heavy index Nasdaq Composite future was also down by 0.57% or 66.25 points, at 11,520.25. (At the time of writing – 8:40 AM ET).
The shares of the resort operator, Wynn Resorts (WYNN), were up by 4.2% in the premarket trading session. This came with investor Tilman Fertitta taking a stake of over 6% in the company.
The shares of the Brazilian state-run oil company, Petrobras (PBR), were down by 8.5% in the premarket trading session. This happened post Luiz Inácio Lula da Silva defeating Jair Bolsonaro in the presidential election of Brazil.
European Indices Performance (at the time of writing):
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FTSE 100 Index One Year Performance (as on 31 October)
_10_31_2022_13_47_17_804798.PNG)
(Source: EODHD/Others)
Top 3 Volume Stocks in FTSE 100*: Lloyds Banking Group plc (LLOY), Rentokil Initial plc (RTO), Glencore plc (GLEN)
Top 3 sectors traded in green*: Consumer Non-Cyclicals (0.88%), Technology (0.78%), Financials (0.75%)
Top 3 sectors traded in red*: Energy (-0.86%), Real Estate (-0.59%), Basic Materials (-0.50%)
London Stock Exchange: Stocks Performance (at the time of writing):
_10_31_2022_13_47_44_354721.PNG)
Crude Oil Future Prices*: Brent future crude oil (future) price and WTI crude oil (future) price were hovering at $92.20/barrel and $86.19/barrel, respectively.
Gold Price*: Gold price was quoting at US$ 1,638.15 per ounce, down by 0.40% against the prior day closing.
Currency Rates*: GBP to USD: 1.1505; EUR to USD: 0.9909
Bond Yields*: US 10-Year Treasury yield: 4.052%; UK 10-Year Government Bond yield: 3.5330%
*At the time of writing
