FTSE 100 Stays in Red Even As HSBC, BP, AstraZeneca, Diageo Move Up

3 min read | April 28, 2021 12:52 AM AEST | By Abhijeet

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FTSE 100 Stays in Red Even As HSBC, BP, AstraZeneca, Diageo Move Up — Image source: Copyright © 2021 Kalkine Media Pty Ltd.

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Summary

FTSE 100 continued to trade in the negative territory in the afternoon deals

The index failed to sustain marginal gains of the morning after some results

HSBC up over 2 per cent substantially handheld the key index

A group of large-cap shares dragged the benchmark index in the red

Sentiments were battered by lacklustre activity in European markets

The benchmark FTSE 100 index continued to trade in the negative territory in the afternoon deals on Tuesday, 27 April, as a bunch of heavyweight players announced the respective financial results for the first quarter of 2021. The trading sentiments were battered by the lacklustre activity in the major European markets, with the leading stock indicators of Germany and France hovering in red.

The DAX of Germany dropped 0.27 per cent to 15,255.30, CAC 40 of France shed 0.14 per cent to 6,266.93, Spain’s IBEX 35 added 0.07 per cent to 6,266.93, Italy’s FTSE MIB slipped 0.05 per cent to 24,501.31, while Switzerland’s SMI crashed 0.54 per cent to 11,101.59.

As far as the London equities were concerned, the headline FTSE 100 failed to sustain the marginal gains in the morning and extended the losses even with a substantial rise in the share prices of blue-chip components including AstraZeneca Plc (LON: AZN), HSBC Holdings Plc (LON: HSBA), BP Plc (LON: BP) and Diageo Plc (LON: DGE).

The large-cap shares of Aveva Plc (LON: AVV), Bunzl Plc (LON:BNZL), Whitbread Plc (LON: WTB), Rolls-Royce Plc (LON: RR), Ashtead Group Plc (LON: AHT), Next Plc (LON: NXT), Evraz Plc (LON: EVR), WPP Plc (LON: WPP), Compass Group Plc (LON: CPG), Informa Plc (LON: INF), BHP Group Plc (LON: BHP), London Stock Exchange Group Plc (LON: LSE), Anglo American Plc (LON: AAL) and Glencore Plc (LON: GLEN) emerged as the major laggards, pushing down the index into negative territory.

According to the data available with the London Stock Exchange, FTSE 100 traded at 6,948.43, down 0.21 per cent from the previous close of 6,963.12 in the afternoon session. The index realised a marginal gain to hit an intraday high of 6,975.07 in the early trades, while it slipped to a day’s low of 6,940.93.

FTSE 100 chart (27 April)

(Source: EODHD/Others, Thomson Reuters)

The global equity tenderness has been widely affected by the second wave of coronavirus cases in some of the countries, with India leading the daily tally. The domestic market participants have modified their trade set-ups according to the upcoming developments in the equities as the corporate earnings season unfolds.

HSBC, reporting over a billion dollar in pre-tax profits for HSBC UK Bank Plc, substantially handheld the key index, but other large-cap shares collectively dragged into the negative region. Among the major macroeconomic releases, Nationwide is slated to release the housing prices for the month of April on Friday, 30 April.

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