FTSE 100 slides as UK gets new PM

Be the First to Comment Read

FTSE 100 slides as UK gets new PM

Follow us on Google News:
 FTSE 100 slides as UK gets new PM
Image source: ©Rawpixelimages - Megapixl.com

UK Market: The UK stock market was trading in the negative territory on Monday, with the blue-chip FTSE100 index losing over 0.6 per cent. The market mood despite Liz Truss' win over Rishi Sunak to become the UK’s new prime minister. Truss won the race beating Sunak by more than 20,000 votes. The elections for the new PM came during a rough time when the country is struggling with an escalating cost of living crisis and industrial turmoil amid the fears of recession.

Glencore PLC (LON: GLEN): The shares of the commodity trading and mining business, Glencore plc, were up by 5.07%, with a day’s high of GBX 476.25. Glencore can now divest the Yauliyacu Mine after Wheaton Precious Metals recently ending its deal with it.

Anglo American plc (LON: AAL): The shares of the leading British metals producer, Anglo American plc, were up by 1.84%, with a day’s high of GBX 2,802.00. The company has been granted exclusive funding and offtake rights by Alien Metals for the Hancock iron ore project.

Shell plc (LON: SHEL): The shares of the prominent British oil industry firm, Shell plc, were up by 0.65%, with a day’s high of GBX 2,339.00. Ben van Beurden is all set to step down as Shell’s CEO in 2023 and the company is looking for his successor.

 

US Markets: The US market is likely to get an average start, as indicated by the futures indices. S&P 500 future was down by 1.50 points or 0.04% at 3,923.00, however the Dow Jones 30 future was up by 0.19% or 60 points at 31,372.00. Meanwhile, the technology-heavy index Nasdaq Composite future was down by 0.27% or 32.50 points, at 12,071.75. (At the time of writing – 8:15 AM ET).

European Indices Performance (at the time of writing):

 

FTSE 100 Index One Year Performance (as on 5 September)

                                                                  

                                                                       (Source: Refinitiv)

 

 

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

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 $89.89/barrel and $96.48/barrel, respectively.

Gold Price*: Gold price was quoting at US$ 1,724.15 per ounce, up by 0.09% against the prior day closing.

Currency Rates*: GBP to USD: 1.1494; EUR to USD: 0.9926.

Bond Yields*: US 10-Year Treasury yield: 3.195%; UK 10-Year Government Bond yield: 2.9715

 

*At the time of writing

Disclaimer

Featured Articles