FTSE 100 turns lower amid fear of a global slowdown

3 min read | October 18, 2021 11:09 AM EDT | By Sreenivas D Ajankar

US Markets: Broder US indices are showing a mixed trend in early deals. S&P 500 index traded lower by 2 points or 0.03% at 4,470, Dow Jones Industrial Average Index is up by 91 points at 35,203, and the technology benchmark index Nasdaq Composite traded higher at 15,163, up by 16 points or 0.13% against the previous day close. (At the time of writing – 10:30 AM ET).

US Market News: Major indices on wall street are trading mixed during the morning trading session. Shares of Revance Therapeutics (RVNC) was down by over 33% after US-FDA declined to approve the company’s injectable treatment for facial lines after conducting an inspection.

Walt Disney (DIS) stock was down by over 1.7% in the morning trade as investors fear a slowdown in the company’s growth due to lower subscriptions in the company’s streaming service.

Global Markets trades flat on Monday

However, shares of the supermarket chain operator Albertsons (ACI) was amongst top gainers, up by over 3.5, after announcing its results.

UK Market News: The UK stock market is trading lower on the first day of a new week. The key factor which impacted the blue-chip index was poor economic data From China. The country reported a decline in Gross Domestic Product (GDP) and Industrial Production in the third quarter of 2021, which raised fear of a slowdown in the global growth affected by rising inflation and surge in demand for energy.

Playtech Plc (LON:PTEC): Shares of the gambling software company was up by over 57% after the company’s board agreed to a £2.1 billion takeover bid from the Australia based Aristocrat Leisure. The company’s board agreed to a 680p per share bid after numerous negotiation rounds.

SIMEC Atlantis Energy Ltd (LON:SAE): Shares of the alternative energy provider was down by over 14% after the company issued additional ordinary shares to the subscriber in relation to £300,000 share placing. The new shares will trade along with exiting ordinary shares from 20 October 2021.

Fresnillo Plc (LON:FRES): The metal and mining company’s stock was amongst top gainers from the blue-chip index primarily due to the rise in precious metal prices in the international markets. Metal and mining-related stocks continue to show growth following a rise in commodity prices globally.

European Indices Performance (at the time of writing):

Top 3 Volume Stocks on FTSE 100*: Lloyds Banking Group plc (LLOY), International Consolidated Airlines Group (IAG), 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 $85.34/barrel and $82.44/barrel, respectively.

Gold Price*: Gold price was quoting at US$ 1,767 per ounce, down by 0.01% against the prior day closing.

Currency Rates*: GBP to USD: 1.3731; EUR to USD: 1.1601.

Bond Yields*: US 10-Year Treasury yield: 1.602%; UK 10-Year Government Bond yield: 1.1395%.

*At the time of writing

 

 


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