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UK Market: The UK stock markets have shrugged off the US Fed rate hike jitters and have added gains on Wednesday. FTSE 100 has gained over 1.20%. The major support is coming from the banking stocks like Standard Chartered Plc (5.15%), HSBC Holdings Plc (4.02%), Natwest Group Plc (2.13%), who have extended their gains amid anticipation of an interest rate hike.
Thor Mining Plc (LON: THR): Shares of the diversified mining group were up by 36%, with a day’s high of GBX 0.68 after the company announced that it had identified several lithium explorations targets at its 100% owned Ragged Range Project, located in Western Australia.
Mitie Group Plc (LON: MTO): Shares of the Facilities Management company were up by over 7.3%, with a day’s high of GBX 67 after the company announced a positive trading update for the third quarter. Its overall revenue rose by 51% to £1,008 million during the period.
Dr. Martens Plc (LON: DOCS): Shares of the footwear manufacturing company were down by over 10%, with a day’s low of GBX 266 despite reporting an 11% rise in overall group revenue at £307 million in the third quarter ended 31 December 2021.
US Markets: The US markets are likely to make a positive start after yesterday’s volatile session following the US Federal Reserve meeting. The future indices trade higher today, with S&P 500 future gaining 22 points or 0.49% at 4,363, while the Dow Jones 30 future was up by 0.19% or 102 points at 34,156. The technology-heavy index Nasdaq Composite future was up by 0.81% at 14,279 (At the time of writing – 8:50 AM ET).
US Market News:
Shares of private equity investment firm, Blackstone (BX), rose by 4% in premarket trading after reporting solid quarterly performance driven by the higher return from investment assets and record cash inflow.
Shares of Levi Strauss (LEVI) were up by over 8% after the apparel company reported upbeat fourth-quarter business performance. Also, the company has forecasted positive performance in the upcoming fiscal year amid a rise in demand for jeans and jackets.
Shares of the disk drive maker, Seagate Technology (STX), jumped over 8% after the company gave an upbeat forecast and higher profit margins guidance for the long term.
European Indices Performance (at the time of writing):
FTSE 100 Index One Year Performance (as on 27 January 2022)
(Source: Refinitiv)
Top 3 Volume Stocks in FTSE 100*: Lloyds Banking Group plc (LLOY), Vodafone Group Plc (VOD), BP Plc (BP.)
Top 3 Sectors traded in green*: Utilities (1.83%) Healthcare (1.54%), Financials (1.43%)
Sector traded in red*: Consumer Cyclicals (-0.07%)
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 $89.67/barrel and $88.48/barrel, respectively.
Gold Price*: Gold price quoted at US$ 1,801 per ounce, down by 1.58% against the prior day closing.
Currency Rates*: GBP to USD: 1.3388, EUR to USD: 1.1157.
Bond Yields*: US 10-Year Treasury yield: 1.832%; UK 10-Year Government Bond yield: 1.2395%.
*At the time of writing
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