UK stock market moves higher, FTSE 100 reclaims 7,000 level

Follow us on Google News:
 UK stock market moves higher, FTSE 100 reclaims 7,000 level
Image source: Copyright © 2021 Kalkine Media Pty Ltd.

UK Market: The UK stock market moved higher on Wednesday. The blue-chip FTSE 100 reclaimed its 7,000 level, supported by stocks like Polymetal International Plc (55%), Evraz Plc (27%), International Consolidated Airlines (9.1%). These stocks witnessed good buying interest at the lower levels after a heavy selloff in the last few trading sessions.


Electrocomponents Plc (LON: ECM): The industrial product company was up by over 9%, with a day’s high of GBX 954.50 after the company announced its business update for nine weeks to 4 March 2022. The like-for-like revenue of the company grew by 22% during the period.

Fresnillo Plc (LON: FRES): The precious metal and mining company was down by over 6%, with a day’s low of GBX 754.20. The stock price was down, tracking the gold and silver prices which retreated in the international market from their recent surge.

JD Sports Fashion Plc (LON: JD.): The sportswear and accessories retailer was up by over 8.5%, with a day’s high of GBX 143.20. The stock price is trading in the green for the third consecutive trading session. The company ceased its business operations in Russia after the Russia-Ukraine conflict.

US Markets: The US market is likely to see some recovery with a green opening, as indicated by the futures indices. S&P 500 future was up by 69 points or 1.66% at 4,237, while the Dow Jones 30 future was up by 1.59% or 513 points at 33,132. The technology-heavy index Nasdaq Composite future was up by 2.13% at 13,551 (At the time of writing – 8:50 AM ET).

US Market News:

Shares of the dating service provider, Bumble (BMBL), were up by over 20% in premarket trading following its quarterly earnings announcement. The adjusted operating profit of the company was above the market estimates.

Shares of the recreational vehicle maker Thor Industries (THO) were up by over 8% in the premarket trading session after the company reported better than expected quarterly results. The total revenue was above the market expectations.

European Indices Performance (at the time of writing):

European Indices Performance

FTSE 100 Index One Year Performance (as on 09 March 2022)

1 Year FTSE 100 Chart

(Source: Refinitiv)

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

Top 3 Sectors traded in green*: Consumer Cyclicals (4.34%), Financials (4.14%), Real Estate (3.02%)

Top 2 Sectors traded in red*: Energy (-2.16%), Basic Materials (-1.78%)

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 $122.97/barrel and $118.06/barrel, respectively.

Gold Price*: Gold price quoted at US$ 2,002 per ounce, down by 2.05% against the prior day’s closing.

Currency Rates*: GBP to USD: 1.3150; EUR to USD: 1.1001.

Bond Yields*: US 10-Year Treasury yield: 1.899%; UK 10-Year Government Bond yield: 1.5000%.

*At the time of writing

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Limited, Company No. 12643132 (Kalkine Media, we or us) and is available for personal and non-commercial use only. Kalkine Media is an appointed representative of Kalkine Limited, who is authorized and regulated by the FCA (FRN: 579414). The non-personalised advice given by Kalkine Media through its Content does not in any way endorse or recommend individuals, investment products or services suitable for your personal financial situation. You should discuss your portfolios and the risk tolerance level appropriate for your personal financial situation, with a qualified financial planner and/or adviser. No liability is accepted by Kalkine Media or Kalkine Limited and/or any of its employees/officers, for any investment loss, or any other loss or detriment experienced by you for any investment decision, whether consequent to, or in any way related to this Content, the provision of which is a regulated activity. Kalkine Media does not intend to exclude any liability which is not permitted to be excluded under applicable law or regulation. Some of the Content on this website may be sponsored/non-sponsored, as applicable. However, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music/video that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music or video used in the Content unless stated otherwise. The images/music/video that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Featured Articles