FTSE 100 trades in red as big tech firms disappoint investors

3 min read | October 28, 2022 02:08 PM BST | By Abhishek Sharma

UK Market: The UK stock market was trading in the red on Friday, with the blue-chip FTSE 100 index down over 0.56% at around 1:30 pm GMT+1. The mid-cap-focused FTSE 250 was trading 0.90% lower at the same time. This came as investors were spooked by the third quarter numbers and future outlook from big tech companies. e-Commerce giant Amazon has shared disappointing forecasts for Christmas, while Facebook owner Meta's shares plunged by nearly a quarter. Apple also expects its iPhone sales to disappoint.

Centrica Plc (LON:CNA): The shares of the energy utility firm jumped over 6.75% after it reopened the UK's biggest gas storage site to boost energy supplies during the winter. The site was closed in 2017.

NatWest Group PLC (LON:NWG): The lender posted its Q3 numbers on Friday, with its pre-tax profits hitting £1.1 billion, largely unchanged over the same period last year. Its shares fell more than 8% during the day.

Glencore PLC (LON:GLEN): Shares of the mining giant slipped more than 3.5% after it said that it has slashed the annual guidance for a few of its commodities following a disappointing performance in the third quarter.

US Markets: The US market is likely to get a mixed start, as indicated by the futures indices. S&P 500 future was down by 23.30 points or 0.61% at 3,807.30, while the Dow Jones 30 future was up by 0.61% or 194.17 points at 32,033.28. Meanwhile, the technology-heavy index Nasdaq Composite future was also down by 1.63% or 178.32 points, at 10,792.67. (At the time of writing – 8:59 AM ET).

The shares of the oil and gas corporation Exxon Mobil (XOM) rose 2.2% in the premarket trading session after it posted forecast-beating profits, boosted by high natural gas prices.

The shares of the energy firm Chevron (CVX) jumped 1.7% in the premarket trading session after beating the top and bottom line expectations for the third quarter with its second-best profit on record.

European Indices Performance (at the time of writing):

FTSE 100 Index One Year Performance (as on 28 October) 

(Source: EODHD/Others)

Top 3 Volume Stocks in FTSE 100*: Lloyds Banking Group plc (LLOY), NatWest Group plc (NWG), Glencore plc (GLEN)

Top 3 sectors traded in green*:  Healthcare (1.49%), Utilities (0.85%), Consumer Non-cyclicals (0.37%)

Top 3 sectors traded in red*: Real Estate (-2.01%), Financials (-1.80%), Consumer Cyclicals (-0.72%)

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 $94.33/barrel and $88.27/barrel, respectively.

Gold Price*: Gold price was quoting at US$ 1,650.05 per ounce, down by 0.93% against the prior day closing.

Currency Rates*: GBP to USD: 1.1556; EUR to USD: 0.9945

Bond Yields*: US 10-Year Treasury yield: 4.004%; UK 10-Year Government Bond yield: 3.501%

*At the time of writing


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