FTSE 100 shrinks as global markets post unwelcome stats

3 min read | July 01, 2022 02:47 PM BST | By Abhishek Sharma

UK Market: The UK stock markets continued their decline on Friday, with the blue-chip FTSE 100 slipping 0.3% towards the last leg of trade. The fall was led by mining stocks as precious metal prices lost ground following cautious Asian trading. The index saw its worst monthly performance in June since the beginning of the COVID-19 pandemic amid the economic slowdown and fears of a global recession. UK's manufacturing sector also continued its slowdown as business optimism dropped to its lowest levels in two years.

Shell Plc (LON: SHEL): The British oil and gas giant may have to abandon its £3 billion stake in a Russian gas project as Russian President Vladimir Putin has decided to seize it and transfer the rights to a new Russian firm. Shares of the company were up by nearly 1% after opening at GBX 2,123.50.

Aston Martin Lagonda Global Holdings Plc (LON: AML): Shares of the luxury car maker slipped by over 2% after opening at GBX 434.20 following its statement that it regularly keeps its 'funding options under review'. There were reports claiming that it is in talks with Saudi Arabia's investment arm to raise new equity.

S4 Capital Plc (LON: SFOR): Shares of the UK-based digital marketing company climbed by over 1.5% during the day after it announced to combine US-based social-media marketing agency XX Artists with its Media.Monks brand.

US Markets: The US market is expected to open lower, as indicated by the futures indices. S&P 500 future was down by 33.45 points or 0.88% at 3,785.38, while the Dow Jones 30 future was down by 253.88 points or 0.82% at 30,775.43. The technology-heavy index Nasdaq Composite future was at 11,028.74, 1.33% or 149.16 points lower. (At the time of writing – 9:14 AM ET).

Shares of the department store retail chain Kohl's (KSS) nosedived by 17.9% in premarket trading after it confirmed that the talks of its acquisition by Franchise Group (FRG) have ended. The company also slashed its outlook for the present quarter due to a change in consumer spending.

Shares of chip-maker Micron Technology (MU) plunged by 4.6% in premarket trading after it posted a lower-than-expected sales forecast. The pressure on the stock price came despite the quarterly profits exceeding expectations.

European Indices Performance (at the time of writing):

FTSE 100 Index One Year Performance (as on 1 July)

ftse100

(Source: EODHD/Others)

Top 3 Volume Stocks in FTSE 100*: Lloyds Banking Group Plc (LLOY), Barclays Plc (BARC), BP Plc (BP).

Top 3 Sectors traded in green*: Utilities (1.26%), Industrials (0.73%), and Energy (0.67%).

Top 3 Sectors traded in red*: Real Estate (-1.51%), Basic Materials (-1.33%), Healthcare (-1.24%).

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 $111.63/barrel and $108.42/barrel, respectively.

Gold Price*: Gold price hovered at around US$ 1,794.10 per ounce, down by 0.73% against the prior day's closing.

Currency Rates*: GBP to USD: 1.2010; EUR to USD: 1.0404.

Bond Yields*: US 10-Year Treasury yield: 2.878%; UK 10-Year Government Bond yield: 2.1300%.

*At the time of writing


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