UK Market News: The UK stock market moved higher on Wednesday, with the blue-chip FTSE100 index gaining around 1.5% after the Bank of England’s (BoE’s) rate hike announcement. The Monetary Policy Committee (MPC) of the BoE has raised the interest rate to a 13-year high of 1% in response to the soaring inflation levels in the country. However, the BoE has warned that the UK economy may shrink over the coming year.
Endeavour Mining plc (LON: EDV): The shares of the UK-based mining company, Endeavour Mining plc, were up by 9.22%, with a day’s high of GBX 2,126.00. Today the company has reported a robust output and revenue growth in the first quarter based on high gold prices.
Mondi plc (LON: MNDI): The shares of the UK-based packaging and paper company, Mondi plc, were up by 6.56%, with a day’s high of GBX 1,600.50. The company made an announcement yesterday regarding its robust performance in the first quarter, along with the board’s decision to divest the firm’s Russian assets.
Hikma Pharmaceuticals plc (LON: HIK): The shares of the UK-based pharmaceutical business, Hikma Pharmaceuticals plc, were down by 7.69%, with a day’s low of GBX 1,710.00. The company lowered its guidance for its Generics business today due to a postponement in the release of a generic.
US Markets: The US market is likely to give up some last session gains with a sluggish start, as indicated by the futures indices. S&P 500 future was down by 22 points or 0.51% at 4,273.25, while the Dow Jones 30 future was down by 0.40% or 136 points at 33,833.00. The technology-heavy index Nasdaq Composite future was also down by 0.64% or 86.75 points, at 13,444.50. (At the time of writing – 8:45 AM ET).
The shares of the US-based social network company, Twitter (TWTR), went up by 1.5% in the premarket trading session. Elon Musk has given the details regarding the $7.2 billion in financing commitments for his deal to take over the business.
The shares of the American theme park operator, SeaWorld (SEAS), increased by around 1% in the premarket trading session. With the attendance surpassing the pre-pandemic levels, the company has reported a lesser quarterly loss than expected, along with greater-than-expected revenues.
European Indices Performance (at the time of writing):
FTSE 100 Index One Year Performance (as on 5 May 2022)
Top 3 Volume Stocks in FTSE 100*: Lloyds Banking Group plc (LLOY), BP plc (BP.), Barclays Plc (BARC)
Top 3 Sectors traded in green*: Energy (3.60%), Basic Materials (3.16%), Real Estate (2.93%)
Top 3 Sectors traded in red*: Financials (-0.33%)
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 $113.24/barrel and $110.61/barrel, respectively.
Gold Price*: Gold price was quoted at US$ 1,901.35 per ounce, up by 1.73% against the prior day’s closing.
Currency Rates*: GBP to USD: 1.2396; EUR to USD: 1.0549.
Bond Yields*: US 10-Year Treasury yield: 3.011%; UK 10-Year Government Bond yield: 1.8835%.
*At the time of writing