FTSE 100 moves higher while debit and credit card spending falls

3 min read | September 15, 2022 11:14 PM AEST | By Rishika Raina

UK Market: The UK stock market was trading in the positive territory on Thursday, with the blue-chip FTSE100 index gaining over 0.4 per cent. This came after the CPI inflation disappointment this week. Meanwhile, the recent data published by the Office for National Statistics (ONS) indicates that people in the UK have cut back on their spending on credit as well as debit cards. Apparently, people have been trying to avoid eating out amidst the ongoing cost of living catastrophe.

Glencore PLC (LON: GLEN): The shares of the commodity trading and mining business, Glencore plc, were up by 1.47%, with a day’s high of GBX 505.00. The company has reached a new deal with workers at the Quebec nickel mine to restart production.

Fresnillo plc (LON: FRES): The shares of the silver and gold miner, Fresnillo plc, were up by 1.47%, with a day’s high of GBX 747.20. The company has backed its annual guidance while conducting extensive assessments at its Juanicipio mine.

Rolls-Royce Holdings Plc (LON: RR.): The shares of the aerospace and defense firm, Rolls-Royce Holdings Plc, were up by 1.38%, with a day’s high of GBX 79.35. The company has completed its EUR 1.7 billion sale of ITP Aero today.

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 9.75 points or 0.25% at 3,955.25, while the Dow Jones 30 future was down by 0.07% or 23 points at 31,237.00. Meanwhile, the technology-heavy index Nasdaq Composite future was also down by 0.45% or 55 points, at 12,165.25. (At the time of writing – 8:15 AM ET).

The shares of the aluminum products maker, Arconic (ARNC), plunged by 9.8% in premarket trading session. This happened after the company reduced its annual guidance due to several production costs and elevated energy prices in Europe.

The shares of the alternative energy company, NextEra Energy (NEE), dropped by 3.5% in the premarket trading session. The company is planning to sell off $2 billion in equity units.

European Indices Performance (at the time of writing):

 

FTSE 100 Index One Year Performance (as on 15 September)

                                                                   

                                                                       (Source: EODHD/Others)

Top 3 Volume Stocks in FTSE 100*: Lloyds Banking Group plc (LLOY), Vodafone Group plc (VOD), Abrdn plc (ABDN)

Top 3 sectors traded in red*:  Utilities (-1.19%), Energy (-0.59%), Real Estate (-0.06%)

Top 3 sectors traded in green*:  Technology (1.33%), Financials (1.04%), Consumer Cyclicals (0.96%)

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 $92.25/barrel and $86.75/barrel, respectively.

Gold Price*: Gold price was quoting at US$ 1,693.00 per ounce, down by 0.94% against the prior day closing.

Currency Rates*: GBP to USD: 1.1490; EUR to USD: 0.9996

Bond Yields*: US 10-Year Treasury yield: 3.455%; UK 10-Year Government Bond yield: 3.1570%

*At the time of writing

 


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