FTSE 100 moves higher, led by sharp gain in Unilever

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 FTSE 100 moves higher, led by sharp gain in Unilever
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UK Market News: The UK stock market extended the gain on Tuesday, with the blue-chip FTSE 100 index moving up by around half a per cent. The multinational consumer goods company Unilever pushed the index higher after naming activist investor Nelson Peltz as a new board member. Energy stocks also surged on the rise in crude oil prices after the European Union announced the plan for a partial embargo on oil imports from Russia. Meanwhile, annual inflation in the Euro region in May hit a record high of 7.7%, increasing the concern over a rise in energy costs further.

Unilever Plc (LON: ULVR): The shares of the fast-moving consumer goods (FMCG) company, Unilever Plc, were up by over 6.5%, with a day’s high of GBX 3,763.00. The company announced the appointment of activist investor Nelson Peltz as a Non-Executive Director, who runs the activist hedge fund Trian Fund Management, with a 1.5% stake in the company. 

B&M European Value Retail S.A.  (LON: BME): The share of the discount retailer, B&M European Value Retail S.A. fell by 13.78%, with a day’s low of GBX 385.00. The company reported mostly a flat result for the financial year 2022 and warned of unpredictable trading patterns in the year ahead. It has also announced the appointment of Alex Russo as its new CEO.

PCF Group Plc (LON: PCF): The share of retail savings the provider for individuals fell by around 15%, with a day’s low of GBX 6.00. The company announced that it is in early-stage talks with Castle Trust Capital Plc over a potential offer to buy the company that would give shareholders a minority stake in the enlarged group.

US Markets: The US market is likely to get a negative start as suggested by the futures indices. S&P 500 future was down by 46.64 points or 1.15% at 4,110.80, while the Dow Jones 30 futures was down by 1.27% or 420.55 points at 32,792.41. The technology-heavy index Nasdaq Composite future was down by 1.20% at 12,527.00 (At the time of writing – 9:45 AM ET).

US Market News:

The share of Canadian gold producer Yamana Gold (AUY) surged by 14.9% in the premarket trading session after the company agreed to be acquired by one of the world’s leading gold mining firms, Gold Fields (GFI) in an all-stock deal valued at US$6.7 billion. Shares of Gold Field tumbled by 11.85 in the premarket.

The share of the global investment bank and financial services firm, Credit Suisse (CS) fell by 3.8% in the premarket trading session after the company denied a Reuters report that it is mulling various options to raise capital after reporting a series of losses.

European Indices Performance (at the time of writing):

European Indices Performance

 FTSE 100 Index One Year Performance (as on 31 May 2022)

1 Year FTSE 100 Chart

 (Source: Refinitiv)

Top 3 Volume Stocks in FTSE 100*: Lloyds Banking Group plc (LLOY), Vodafone Group Plc (VOD) and International Consolidated Airlines Group S.A.

Top 3 Sectors traded in green*: Consumer Non-Cyclicals (1.90%), Energy (1.65%) and Technology (0.97%).

Top 3 Sectors traded in red*: Consumer Cyclicals (-1.70%), Industrials (-1.22%) and Real Estate (-1.15%)

London Stock Exchange: Stocks Performance (at the time of writing)

1 Year FTSE 100 Chart

Crude Oil Future Prices*: Brent future crude oil (future) price and WTI crude oil (future) price were hovering at $119.31/barrel and $118.60/barrel, respectively.

Gold Price*: Gold price was quoted at US$ 1,852.50 per ounce, down by 0.26% against the prior day’s closing.

Currency Rates*: GBP to USD: 1.2588; EUR to USD: 1.0706.

Bond Yields*: US 10-Year Treasury yield: 2.808%; UK 10-Year Government Bond yield: 2.0260%.

*At the time of writing


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