FTSE 100 recover some last-session losses, Glencore moves up

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FTSE 100 recover some last-session losses, Glencore moves up

 FTSE 100 recover some last-session losses, Glencore moves up
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UK Market News:  The UK stock market recovered on Friday from a sharp fall in the last session, with the blue-chip FTSE 100 index gaining around a per cent. Oil and mining stocks tried to push the blue-chip index lower as commodity prices slipped on sluggish growth worries, but a weaker pound gave the export-heavy index some support. However, fears of the recession continued to weigh on the mood.

Glencore Plc (LON: GLEN): The share of the commodity trading and mining company Glencore Plc surged by around 2%, with a day’s high of GBX 482.15. The company expects adjusted operating profit to be above US$3.2 billion, which is the top end of its medium-term guidance.

Tesco Plc (LON: TSCO): The share of the grocery and general merchandise retailer Tesco Plc rose by around 0.5%, with a day’s high of GBX 252.30. The supermarket giant said that shoppers are buying less, switching to cheaper products, and shopping more often as they try to cope with the cost-of-living crisis.

Univision Engineering Limited (LON: UVEL): The share of the CCTV and surveillance system company Univision Engineering Limited, fell by almost 43%, with a day’s low of GBX 0,30. The company announced that the contract for the replacement works of the CCTV system for MTR Corporation Ltd’s railway had been cancelled.

US Markets: The US market is likely to get a positive start, as indicated by the futures indices. S&P 500 future was up by 33.37 points or 0.89% at 3,700.20, while the Dow Jones 30 futures was up by 0.62% or 185.84 points at 30,112.91. The technology-heavy index Nasdaq Composite future was up by 1.31% at 11,269.96 (At the time of writing – 9:45 AM ET).

US Market News:

The share of the computer software company, Adobe (ADBE) fell by 3.7% in the premarket trading session after it reported weaker than expected financial guidance for the current quarter and the full year because of unfavourable foreign exchange rates and the Russia-Ukraine war.

The share of the Chinese e-commerce company JD.com (JD) jumped by 8.9% in the premarket trading session after the company reported that it is exploring a possible expansion into food delivery that would put the e-commerce giant in direct competition with Alibaba and Meituan.

European Indices Performance (at the time of writing):

European Indices Performance

FTSE 100 Index One Year Performance (as on 17 June 2022)

1 Year FTSE 100 Chart

  (Source: Refinitiv)

Top 3 Volume Stocks in FTSE 100*: Lloyds Banking Group plc (LLOY), BP Plc (BP.), BT Group Plc (BT.A)

Top 3 Sectors traded in green*: Consumer Cyclicals (1.37%), Real Estate (1.33%) and Technology (1.17%).

Top 3 Sectors traded in red*: Energy (-1.37%), Basic Material (-0.55%), Energy (-1.37%)

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

 London Stock Exchange stock performance

Crude Oil Future Prices*: Brent future crude oil (future) price and WTI crude oil (future) price were hovering at $119.73/barrel and $117.33/barrel, respectively.

Gold Price*: Gold price was hovering at around US$ 1,849.55 per ounce, down by 0.02% against the prior day’s closing.

Currency Rates*: GBP to USD: 1.2279; EUR to USD: 1.0501.

Bond Yields*: US 10-Year Treasury yield: 3.222%; UK 10-Year Government Bond yield: 2.4710%.

*At the time of writing

Glencore Plc (LON: GLEN): The share of the commodity trading and mining company Glencore Plc surged by around 2%, with a day’s high of GBX 482.15. The company expects adjusted operating profit to be above US$3.2 billion, which is the top end of its medium-term guidance.

Tesco Plc (LON: TSCO): The share of the grocery and general merchandise retailer Tesco Plc rose by around 0.5%, with a day’s high of GBX 252.30. The supermarket giant said that shoppers are buying less, switching to cheaper products, and shopping more often as they try to cope with the cost-of-living crisis.

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