FTSE 100 turns lower on weak GDP data

Be the First to Comment Read

FTSE 100 turns lower on weak GDP data

 FTSE 100 turns lower on weak GDP data
Image source: Copyright © 2021 Kalkine Media Pty Ltd.

UK Market: The UK stock market made a weak start to the new week, with the blue-chip FTSE 100 index losing over half a percent on Monday. Market participants turned cautious with lower-than-expected GDP numbers. Against a growth prediction of 0.2%, the UK economy has grown just 0.1% in February, while it grew by 0.8% in January. The decline in growth was due to a drop in manufacturing activity amid other concerns like soaring inflation and war.

Mondi plc (LON: MNDI): The globally leading packaging and paper group was up by 2.34%, with a day’s high of GBX 1,446.00. The company had recently announced that it would assign Saki Macozoma as a non-executive director, effective 6 May onwards.

BAE Systems plc (LON: BA): The leading British aerospace company was up by 2.18%, with a day’s high of GBX 759.80. The company had hosted a supplier conference on Friday related to the innovation and manufacturing of combat vehicles.

Endeavour Mining plc (LON: EDV): The UK-based gold producing business was up by 1.98%, with a day’s high of GBX  2,008.00. The company had recently announced that it would start the construction activities at its Sabodala-Massawa mine soon.

US Markets: The US market is likely to have a soft start, as indicated by the futures indices. S&P 500 future was down by 30.50 points or 0.68% at 4,452.75, while the Dow Jones 30 future was down by 0.33% or 115 points at 34,498.00. The technology-heavy index Nasdaq Composite future was also down by 1.17% or 162.50 points at 14,163.25. (At the time of writing – 9:15 AM ET).

US Market News:

The shares of the Chinese automobile manufacturer, Nio (NIO), declined by over 8% in the premarket trading session after the company stopped production due to disruptions in the supply chain caused by Covid.

The shares of the US biopharmaceutical company, Veru (VERU), went up by over 24% in the premarket trading session after the company announced that its new covid-treatment drug had shown tremendous efficacy.

European Indices Performance (at the time of writing):

European Indices Performance

FTSE 100 Index One Year Performance (as on 11 April 2022)

FTSE 100 Index One Year Performance

(Source: Refinitiv)

Image Description: 

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

Top 3 Sectors traded in green*: Financials (0.18%), Technology (0.18%), consumer cyclicals (0.06%)

Top 3 Sectors traded in red*: Energy (1.58%), utilities (1.09%), basic materials (1.05%) 

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

London Stock Exchange: Stocks Performance  

Crude Oil Future Prices*: Brent future crude oil (future) price and WTI crude oil (future) price were hovering at $98.25/barrel and $93.78/barrel, respectively.

Gold Price*: Gold price was quoted at US$ 1,954.10 per ounce, up by 0.35% against the prior day’s closing.

Currency Rates*: GBP to USD: 1.3028; EUR to USD: 1.0890.

Bond Yields*: US 10-Year Treasury yield: 2.744%; UK 10-Year Government Bond yield: 1.8280%.

*At the time of writing

Disclaimer

Speak your Mind

Featured Articles