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UK Market: The UK stock market made a strong bounce back on Friday, supported by defensive stock despite mounting fears around the hawkish central bank stance and rising concern over the recession. The blue-chip FTSE 100 index gained over 1.5% tailing the gains in other European and Asian markets. Meanwhile, the Office for National Statistics (ONS) reported a 0.5% drop in retail sales volumes in May, with April’s 1.4% growth revised to 0.4%. Also, separate data showed consumer confidence in the UK fell to -41 in June from -40 in May, a new low for the second consecutive month.
Ultra Electronics Holdings Plc (LON: ULE): The share of British defence and security company Ultra Electronics Holdings rose by around 12.5%, with a day’s high of GBX 3,462.00. The government launched a consultation on steps to address the national security concerns raised by the proposed acquisition of the company by Cobham Ultra Acquisitions Limited.
Lamprell Plc (LON: LAM): The shares of oil and gas company Lamprell Plc were down by around 81%, with a day’s low of GBX 4.03. The company is facing a severe liquidity constraint which are deterring potential customers. It has considered the takeover cash offer from Blofeld Investment Management as it seeks to meet funding requirements of US$75 million over the next two months.
Barclays Plc (LON: BARC): The share of the multinational universal bank, Barclays Plc rose by around 2%, with a day’s high of GBX 157.98. The bank has acquired Kensington Mortgage Company Limited, owned by Sixth Street and Blackstone Inc. for around £2.3 billion to expand its reach in the housing market in Britain.
US Markets: The US market is likely to get a positive start, as indicated by futures indices. S&P 500 future was up by 45.01 points or 1.19% at 3,844.49, while the Dow Jones 30 futures was up by 1.07% or 327.37 points at 31,004.73. The technology-heavy index Nasdaq Composite future was up by 1.46% at 11,882.05 (At the time of writing – 9:37 AM ET).
US Market News:
The share of the automobile retailer CarMax (KMX) jumped by 1.1% in the premarket trading session after it beat estimates by 7 cents with quarterly earnings of US$1.56 per share. Its revenue also beat estimates amid what the company called a challenging used vehicle market.
The share of the transportation company FedEx (FDX) jumped by 3.4% in the premarket trading session after it reported quarterly adjusted earnings of US$6.87 per share, 1 cent above estimates. The company also issued upbeat guidance for fiscal 2023.
European Indices Performance (at the time of writing):
FTSE 100 Index One Year Performance (as on 24 June 2022)
(Source: Refinitiv)
Top 3 Volume Stocks in FTSE 100*: Lloyds Banking Group plc (LLOY), Rolls-Royce Holdings Plc (RR.), Barclays Plc (BARC).
Top 3 Sectors traded in green*: Healthcare (2.58%), Industrials (2.38%) and Real Estate (2.03%).
Top 3 Sectors traded in red*: Basic Materials (-0.41%).
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 $111.44/barrel and $105.70/barrel, respectively.
Gold Price*: Gold price was hovering at around US$ 1,827.35 per ounce, down by 0.13% against the prior day's closing.
Currency Rates*: GBP to USD: 1.2304; EUR to USD: 1.0542.
Bond Yields*: US 10-Year Treasury yield: 3.106%; UK 10-Year Government Bond yield: 2.3520%.
*At the time of writing
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Priya Bhandari - Analyst371 PostsPriya writes on UK markets at Kalkine. Her areas of interest include finance, economics and research....
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Santosh Kumar - Manager – UK Media1 PostsSantosh Kumar has rich experience of around 15 years in financial content creation. He has led the content and research teams of prominent corporate database companies and fintech. He also has an in-depth expertise of mutual funds and equities....
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