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UK Market: The UK markets reversed early gains ahead of the European Central Bank's key meet in which a significant hike in interest rates is likely to be announced. At around 12:50 pm GMT+1, the benchmark index FTSE 100 was down 0.01%, while the FTSE 250 was trading 0.04% higher. Meanwhile, British PM Lizz Truss has announced a relief package for households dealing with soaring energy bills. In one of her first decisions as the PM, she said that energy bills will not exceed £2,500 a year.
Restaurant Group PLC (LON: RTN): Shares of the restaurant chain owner jumped over 2% after its chief executive Andy Hornby said that the company has returned to profitability and delivered a solid performance despite a challenging consumer environment.
Darktrace Plc (LON: DARK): Shares of the British-American cybersecurity firm tumbled over 30% following reports of private equity firm Thoma Bravo pulling out of talks to make a bid for the firm.
Associated British Foods Plc (LON: ABF): Shares of the food producer slipped over 7% after it issued a profit warning. The company said its adjusted operating profits and adjusted EPS would decline in the next financial year.
US Markets: The US market is likely to make an upbeat start, as indicated by the futures indices. S&P 500 future was up by 71.68 points or 1.83% at 3,979.87, while the Dow Jones 30 future was up by 1.40% or 435.98 points at 31,581.28. The technology-heavy index Nasdaq Composite future was also up by 2.14% or 246.99 points, at 11,791.90. (At the time of writing – 8:20 am ET).
US Market News:
Shares of the video games retailer GameStop (GME) rallied over 9% in the premarket trading session after it announced a partnership with crypto exchange FTX. This is despite the company posting a widening loss in the most recent quarter.
Shares of the communications software maker Asana (ASAN) jumped 19% before the bell after it beat the top and bottom expectations for the previous quarter. Its revenue guidance for the present quarter also remained above market expectations.
European Indices Performance (at the time of writing):
FTSE 100 Index One Year Performance (as on 8 September)
(Source: EODHD/Others)
Top 3 Volume Stocks in FTSE 100*: Taylor Wimpey Plc (TW.) Lloyds Banking Group plc (LLOY), Vodafone Group Plc (VOD)
Top 3 sectors traded in green*: Basic Materials (0.79%), Energy (0.52%), Financials (0.34%)
Top 3 sectors traded in red*: Utilities (-1.07%), Technology (-0.69%), Consumer Non-cyclicals (-0.62%)
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 $88.6/barrel and $82.7/barrel, respectively.
Gold Price*: Gold price was quoting at US$1,735.30 per ounce, up 0.43% against the prior day's closing.
Currency Rates*: GBP to USD: 1.1554; EUR to USD: 1.0003.
Bond Yields*: US 10-Year Treasury yield: 3.231%; UK 10-Year Government Bond yield: 3.038%.
*At the time of writing
