FTSE 100 turns lower, dragged down by ITV Plc & Admiral Group

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 FTSE 100 turns lower, dragged down by ITV Plc & Admiral Group
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UK Market News: The UK stock market turned lower on Thursday, with the blue-chip FTSE100 index declining by over 0.60%. Stocks like ITV Plc (-20.24%), Admiral Group Plc (-12.9%), Rentokil Initial Plc (-6.67%), announced their results today and dragged the index lower. The mid-cap-focused FTSE250 index is down by 0.63%.

London Stock Exchange Group Plc (LON: LSEG): The exchange and financial data service provider was up by over 7%, with a day’s high of GBX 7,200 after the company announced its results for the year ended 31 December 2021. The total revenue was up by 6.1% to £6,811 million, which is a solid business performance for the company in the first year following the Refinitiv acquisition.

Coats Group Plc (LON: COA): The diversified industrial group’s share was up by over 16%, with a day high of GBX 69.90 following the announcement of full-year results. The company reported a 29% rise in revenue at USD 1,504 million, while its operating profit was at USD 193 million for the year ended 31 December 2021.

ITV Plc (LON: ITV): The media and broadcasting company’s share was down by over 18%, with a day’s low of GBX 89.74 after the company announced its final result for the year ended 31 December 2021. The company, though reported a 28% rise in revenue to £1,760 million.

US Markets: The US market is likely to make a positive start as indicated by the futures indices. S&P 500 future was up by 34 points or 0.82% at 4,417, while the Dow Jones 30 future was up by 0.74% or 253 points at 34,101. The technology-heavy index Nasdaq Composite future was up by 0.90% at 14,366 (At the time of writing – 8:50 AM ET).

US Market News:

The cloud software company, Snowflake (SNOW) was down by over 20% in the premarket trading session after the company announced its quarterly results. The overall revenue was though better than the market expectations. However, the company expects slow product sales in the upcoming quarter.

The electronic retail company Best Buy Co (BBY) was up by over 9% after the company announced its fourth-quarter results. Its per-share earnings were above the market estimates.

European Indices Performance (at the time of writing):

European Indices Performance

FTSE 100 Index One Year Performance (as on 03 March 2022)

1 Year FTSE 100 Chart

(Source: Refinitiv)

Top 3 Volume Stocks in FTSE 100*: Lloyds Banking Group plc (LLOY), Glencore plc (GLEN), Barclays Plc (BARC).

Sector traded in green*:  Basic Materials (2.24%)

Top 3 Sectors traded in red*: Energy (-2.31%), Healthcare (-1.87%), Consumer Cyclicals (-1.60%),

London Stock Exchange: Stocks Performance (at the time of writing)

 Stock Performance On LSE

Crude Oil Future Prices*: Brent future crude oil (future) price and WTI crude oil (future) price were hovering at $116.65/barrel and $114.06/barrel, respectively.

Gold Price*: Gold price quoted at US$ 1,934 per ounce, up by 0.64% against the prior day’s closing.

Currency Rates*: GBP to USD: 1.3371; EUR to USD: 1.1071.

Bond Yields*: US 10-Year Treasury yield: 1.858%; UK 10-Year Government Bond yield: 1.3260%.

*At the time of writing


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