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UK Market: The UK market was in an upbeat mood on Friday after it was Kwasi Kwarteng confirmed that he has been sacked as the Chancellor. At around 1:20 pm GMT+1, the FTSE 100 index was trading nearly 1% higher, while the FTSE 250 index was 1.48% higher. Truss has been under pressure to reverse the tax cut bonanza announced in the mini-budget last month by Kwarteng. Media reports have claimed that the PM is preparing to reverse parts of the fiscal strategy.
Amigo Holdings PLC (LON:AMGO): Shares of the guarantor loan company jumped over 50% after the financial watchdog FCA gave it the nod to resume lending.
International Distributions Services PLC (LON:IDS): Shares of the postal and courier services company slipped more than 8% after it posted an adjusted operating loss of £219 million for H1 2022-23. The company also announced that it plans to cut up to 10,000 jobs.
Mondi PLC (LON:MONDI): Shares of the packaging company climbed by nearly 1% after it posted an underlying EBITDA of €450 million for the third quarter, 55% higher than last year.
US Markets: The US market is likely to get a positive start, as indicated by the futures indices. S&P 500 future was up by 92.88 points or 2.60% at 3,669.91, while the Dow Jones 30 future was up by 2.83% or 827.87 points at 30,038.72. The technology-heavy index Nasdaq Composite future was also up by 2.23% or 232.05 points, at 10,649.15. (At the time of writing – 8:55 am ET).
Share of the grocer Albertsons (ACI) slipped 4.1% in the premarket trading session after it announced a merger deal with supermarket rival Kroger.
Shares of the investment bank and financial services holding company JPMorgan Chase (JPM) surged 2.3% in the premarket trading session after it posted estimate-beating numbers for the third quarter.
European Indices Performance (at the time of writing):
FTSE 100 Index One Year Performance (as on 14 October)
(Source: EODHD/Others)
Top 3 Volume Stocks in FTSE 100*: Lloyds Banking Group plc (LLOY), Barclays Plc (BARC), BP Plc (BP.)
Top 3 sectors traded in green*: Real Estate (4.03%), Utilities (3.20%), Consumer Cyclicals (2.49%)
Top 3 sectors traded in red*: Energy (-0.09%)
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 $92.87/barrel and $87.5/barrel, respectively.
Gold Price*: Gold price was quoting at US$1,662.15 per ounce, down 0.89% against the prior day's closing.
Currency Rates*: GBP to USD: 1.1235; EUR to USD: 0.9745.
Bond Yields*: US 10-Year Treasury yield: 3.867%; UK 10-Year Government Bond yield: 4.043%.
*At the time of writing
