Tesco Shares Edged Higher by 5.95%; FTSE 100 Breached 7,000 Level

US Markets: Broader indices in the United States traded in red - particularly, the S&P 500 index traded 25.72 points or 0.59 per cent lower at 4,320.00, Dow Jones Industrial Average Index dipped by 251.10 points or 0.73 per cent lower at 34,063.57, and the technology benchmark index Nasdaq Composite traded lower at 14,381.20, down by 52.60 points or 0.36 per cent against the previous day close (at the time of writing – 11:45 AM ET).

US Market News: The major indices of Wall Street traded in a red zone after an unexpected rise in oil stockpiles reported by EIA. Among the gaining stocks, Acuity Brands (AYI) shares surged by around 12.20% after the Company’s quarterly earnings and revenue remained more than the consensus estimates. Palantir Technologies (PLTR) shares rose by around 2.83% after the Company won an army contract worth approximately USD 823 million. Among the declining stocks, Seagate Technology Holdings (STX) shares dropped by around 6.17% after Morgan Stanley downgraded the Company to “equal weight”. Constellation Brands (STZ) shares went down by around 0.59% after the spirits maker’s quarterly earnings fell short of the consensus estimates.

UK Market News: The London markets traded in a red zone after the release of UK construction PMI data. According to the recently available data from IHS Markit/CIPS, the UK construction sector got hit by a shortage of raw materials & staff, and PMI stood at ~52.6 during September 2021, down from ~55.20 recorded in August 2021.

Tesco shares climbed by about 5.95% after the Company had announced a £500 million share buyback and raised the full-year profit guidance. Moreover, the Company had declared an interim dividend in line with the prior year.

Imperial Brands shares dropped by around 3.19% after the Company released a trading statement mentioning ongoing market trials with heated tobacco in the Czech Republic and Greece and blu in the US.

Topps Tiles had anticipated full-year adjusted profit before tax to remain above the consensus estimates and expected to resume dividend payments by the end of the year. Furthermore, the shares grew by around 1.21%.

FTSE 250 listed TUI AG shares dropped by around 1.29% after it launched a 1.1 euro billion capital increase to strengthen the balance sheet.

European Indices Performance (at the time of writing):

FTSE 100 Index One Year Performance (as of 06 October 2021)

  1 Year FTSE 100 Chart (Source: Refinitiv)

Top sector traded in green*: Financials (0.25%).

Top 3 sectors traded in red*: Energy (-2.50%), Consumer Cyclicals (-2.17%), Technology (-2.02%).

Top 3 gainers on FTSE All-Share index*: PageGroup PLC (7.67%), Tesco PLC (5.95%), Metro Bank PLC (5.50%).

Top 3 losers on FTSE All-Share index*: Augmentum FinTech PLC (-8.05%), Trustpilot Group PLC (-7.97%), On the Beach Group PLC (-6.78%).

Crude Oil Future Prices*: Brent future crude oil (future) price and WTI crude oil (future) price were hovering at $80.69/barrel and $77.11/barrel, respectively.

Gold Price*: Gold price was quoting at US$ 1,763.45 per ounce, up by 0.14% against the prior day closing.

Currency Rates*: GBP to USD: 1.3582; EUR to USD: 1.1553.

Bond Yields*: US 10-Year Treasury yield: 1.529%; UK 10-Year Government Bond yield: 1.0675%.

*At the time of writing