FTSE 100 recoup early losses led by mining and energy stocks

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 FTSE 100 recoup early losses led by mining and energy stocks
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UK Market News: The UK stock made a dismal start on Monday as the Russia-Ukraine war intensified and entered the 12th day. The blue-chip FTSE100 index, however recovered its early morning losses. The oil & gas stocks like Shell Plc (7.19%), BP Plc (3.55%) along with mining stocks like Antofagasta Plc (5.45%), Anglo American Plc (4.92%) supported the recovery, following the surge in crude oil and commodity price in the international markets.

Oxford Instruments Plc (LON: OXIG): The industrial and medical equipment company was down by over 24%, with a day’s low of GBX 1,600. The stock price declined after the company announced that its merger talks with FTSE 250-listed Spectris plc have been terminated amid global economic uncertainty due to the Russia-Ukraine conflict.

Evraz Plc (LON: EVR): The metal and mining company was up by over 52%, with a day’s high of GBX 91.20. The company’s stock was amongst top gainers witnessing some opportunistic buying from investors after a massive decline following the start of the Russia-Ukraine war. The share price is down by over 95% since 1 February 2022.

Ovoca Bio Plc (LON: OVB): The AIM-listed biopharmaceutical company was up by over 31%, with a day’s high of GBX 13.50 after the company issued a statement regarding its Russia operations. Although the company has operations in Russia, it derives over 90% of its cash flow from an international market other than Russia.

US Markets: The US market is likely to open lower tracking the global stock market selloff and as indicated by the futures indices. S&P 500 future was down by 27 points or 0.62% at 4,299, while the Dow Jones 30 future was down by 0.71% or 226 points at 33,356. The technology-heavy index Nasdaq Composite future was down by 0.60% at 13,757 (At the time of writing – 8:50 AM ET).

US Market News:

The retail company Bed Bath & Beyond (BBBY) surged by over 60% in premarket trading after a media report revealed that Ryan Cohen, co-founder of an online retail company, Chewy, has taken close to a 10% stake in the company.

iPhone maker, Apple Inc (AAPL), was in focus during the premarket trading session as the tech giant is expected to launch a new low-cost version of its iPhone SE model at an event on Tuesday.

European Indices Performance (at the time of writing):

European Indices Performance

FTSE 100 Index One Year Performance (as on 7 March 2022)

1 Year FTSE 100 Chart

(Source: Refinitiv)

Top 3 Volume Stocks in FTSE 100*: Lloyds Banking Group plc (LLOY), Glencore plc (GLEN), Vodafone Group Plc (VOD).

Top 2 Sectors traded in green*: Energy (6.09%), Basic Materials (3.26%).

Top 3 Sectors traded in red*: Consumer Non-Cyclicals (-3.34%), Real Estate (-1.32%), Financials (-1.27%).

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

Stock Performance On LSE

Crude Oil Future Prices*: Brent future crude oil (future) price and WTI crude oil (future) price were hovering at $122.95/barrel and $119.48/barrel, respectively.

Gold Price*: Gold price quoted at US$ 1,988 per ounce, up by 1.10% against the prior day’s closing.

Currency Rates*: GBP to USD: 1.3180; EUR to USD: 1.0891.

Bond Yields*: US 10-Year Treasury yield: 1.770%; UK 10-Year Government Bond yield: 1.2905%.

*At the time of writing


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