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UK Market: The UK stock market was trading in the positive territory on Thursday, with the blue-chip FTSE100 index gaining around 0.6 per cent. This comes as traders get ready for higher volatility as US inflation figures may signal towards a huge rate hike by the Federal Reserve yet again. Headline CPI for September is projected to have slipped marginally from the earlier month’s annual rate of 8.3%, although a higher-than-expected rate would potentially drive the Fed to lift the interest rates further. Following strong declines in banking and housebuilding stocks, the FTSE 100 index closed at an 18-month low yesterday.
Entain plc (LON: ENT): The shares of the sports betting and gambling group, Entain plc, were up by 6.98%, with a day’s high of GBX 1,164.50. The group has released its Q3 trading update, reporting a 2$% hike in its net gaming revenue.
Barratt Developments plc (LON: BDEV): The shares of the British home construction business, Barratt Developments plc, were up by 6.63%, with a day’s high of GBX 347.30. The group has recently reported a decrease in private reservations amid rising economic concerns.
Lloyds Banking Group plc (LON: LLOY): The shares of the leading British banking group, Lloyds Banking Group plc, were up by 6.82%, with a day’s high of GBX 41.76. The group has declared the completion of its £2bn share buyback announced in February.
US Markets: The US market is likely to get a decent start, as indicated by the futures indices. S&P 500 future was up by 39.50 points or 1.10% at 3,628.25, while the Dow Jones 30 future was up by 1.03% or 301 points at 29,556.00. Meanwhile, the technology-heavy index Nasdaq Composite future was also up by 0.89% or 96 points, at 10,933.00. (At the time of writing – 8:30 AM ET).
The shares of the airline group, Delta Air Lines (DAL), went up by 3.9% in the premarket trading session. This happened after the release of its positive current-quarter forecast amid the revival of travel demand.
The shares of the drugstore operator, Walgreens (WBA), went up by 6.8% in the premarket trading session. This happened after the company declared higher-than-expected revenue and profit for the quarter.
European Indices Performance (at the time of writing):
_10_13_2022_13_36_44_486115.PNG)
FTSE 100 Index One Year Performance (as on 13 October)
_10_13_2022_13_37_03_237619.PNG)
(Source: Refinitiv)
Top 3 Volume Stocks in FTSE 100*: Lloyds Banking Group plc (LLOY), Barclays plc (BARC), International Consolidated Airlines Group S.A. (IAG)
Top 3 sectors traded in green*: Real Estate (2.45%), Financials (1.41%), Utilities (1.11%)
Top 3 sectors traded in red*: Consumer Non-Cyclicals (-2.07%), Healthcare (-1.80%), Basic Materials (-1.42%)
London Stock Exchange: Stocks Performance (at the time of writing):
_10_13_2022_13_37_29_287750.PNG)
Crude Oil Future Prices*: Brent future crude oil (future) price and WTI crude oil (future) price were hovering at $91.49/barrel and $85.92/barrel, respectively.
Gold Price*: Gold price was quoting at US$ 1,658.10 per ounce, down by 1.16% against the prior day closing.
Currency Rates*: GBP to USD: 1.1205; EUR to USD: 0.9667
Bond Yields*: US 10-Year Treasury yield: 4.024%; UK 10-Year Government Bond yield: 4.2860%
*At the time of writing
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Manu Shankar - Research Editor730 PostsManu Shankar is a senior journalist and editor with over 15 years of experience across leading media houses. At Kalkine, he writes on cryptocurrencies and equity markets. He’s passionate about sports and music....
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