FTSE 100 trades in red as EU inflations hits 9.1%

September 16, 2022 09:22 AM EDT | By Abhishek Sharma
 FTSE 100 trades in red as EU inflations hits 9.1%
Image source: © Supparsorn | Megapixl.com

UK Market: The UK stock market traded in red as investors digested the latest numbers on inflation in Europe, which reached 9.1% in August. At around 1:20 pm GMT+1, the blue-chip FTSE 100 index traded 0.20% lower, while the FTSE 250 was down 0.42%. Meanwhile, the pound sterling continued its losses on Friday, following gloomy retail figures for August. Continuing its poor performance this year, sterling slipped 0.8% to $1.137 against the US dollar, the lowest in 37 years.

AstraZeneca PLC (LON:AZN): Shares of the pharmaceutical giant jumped over 1.5% after it announced that it had secured two recommendations for its drug approvals in the EU region. 

Capita PLC (LON:CPI): Shares of the FTSE All-share-listed business process outsourcing company jumped nearly 10% after it announced that it'll sell its payment gateway provider unit Pay360 Limited for £150 million on a cash-free, debt-free basis. It also secured a contract extension with the Barnet Council worth £42.7 million.

The Royal Mail PLC (LON:RMG): Shares of the British postal and courier services company plunged nearly 10% after its US peer FedEx slashed its full-year guidance, citing macroeconomic weakness in Asia as well as challenges in the European region.

US Markets: The US market is likely to get a sluggish start, as indicated by the futures indices. S&P 500 future was down by 44.66 points or 1.13% at 3,901.35, while the Dow Jones 30 future was down by 0.56% or 173.27 points at 30,961.82. Meanwhile, the technology-heavy index Nasdaq Composite future was also down by 1.43% or 167.32 points, at 11,552.36. (At the time of writing – 9:13 AM ET).

Shares of the courier services provider FedEx (FDX) slumped 20.3% in the premarket trading session after it issued a profit warning due to falling volumes of package deliveries around the globe.

Shares of the ride-hailing company Uber Technologies (UBER) plunged 4% in the premarket trading session after it said it is probing a cybersecurity incident following a hacker's claim of gaining access to the company's systems.

European Indices Performance (at the time of writing):

FTSE 100 Index One Year Performance (as on 16 September)

(Source: Refinitiv)

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

Top 3 sectors traded in green*: Healthcare (0.71%), Utilities (0.02%), Financial (0.01%)

Top 3 sectors traded in red*: Basic Materials (-1.44%), Technology (-1.06%), Consumer Cyclicals (-0.76%)

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 $91.06/barrel and $84.91/barrel, respectively.

Gold Price*: Gold price was quoting at US$ 1,669.80 per ounce, down by 0.45% against the prior day's closing.

Currency Rates*: GBP to USD: 1.1384; EUR to USD: 0.9956

Bond Yields*: US 10-Year Treasury yield: 3.467%; UK 10-Year Government Bond yield: 3.177%

*At the time of writing


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