Utility & Consumer Cyclical Shares Gained Momentum; FTSE 100 Ended Lower

US Markets: Broader indices in the United States traded on a mixed note - particularly, the S&P 500 index traded 7.47 points or 0.17 per cent lower at 4,461.26, Dow Jones Industrial Average Index dipped by 183.84 points or 0.53 per cent lower at 34,685.79, and the technology benchmark index Nasdaq Composite traded higher at 15,136.30, up by 30.70 points or 0.20 per cent against the previous day close (at the time of writing – 11:35 AM ET).

US Market News: The major indices of Wall Street traded on a mixed note amid tapering concerns after the release of US inflation data. Among the gaining stocks, Intuit (INTU) shares grew by around 1.71% after the Company agreed to purchase Mailchimp for USD 12 billion in a cash & stock deal. Among the declining stocks, Herbalife Nutrition (HLF) shares plunged by around 15.87% after the Company had reduced the outlook due to pandemic-related uncertainty. Oracle (ORCL) shares went down by about 3.58% after the Company’s latest quarterly revenue fell short of the estimates. Fox Corp (FOXA) shares dropped by around 1.72% after the Company planned to purchase celebrity news platform TMZ from AT&T.  

UK Market News: The London markets traded in a red zone despite the release of encouraging UK labour market data, weighed down by the weak performance of mining stocks. According to the Office for National Statistics, the unemployment rate had dropped from 4.7% during June 2021 to 4.6% for July 2021.

FTSE 100 listed Ocado Group shares fell by about 0.56% after the Company had witnessed a significant drop of around 10.6% in revenue for the third quarter. Moreover, the Company had anticipated achieving modest revenue growth for FY22.

JD Sports Fashion shares surged by around 9.72% after the Company had achieved remarkable growth in pre-tax profit for the first half of the current fiscal year.

Bunzl had made an announcement regarding the acquisition of a US-based safety business & a medical supplies distributor for an undisclosed amount. Furthermore, the shares grew by around 1.61%.

Trainline shares went down by around 2.17% after it had expected H1 net ticket sales to be around 71% of the prior year levels. Moreover, the Company had also expected to return to profitability for the first half of the current fiscal year.

European Indices Performance (at the time of writing):

FTSE 100 Index One Year Performance (as on 14 September 2021)

1 Year FTSE 100 Chart (Source: Refinitiv)

Top 3 Volume Stocks in FTSE 100*: Lloyds Banking Group PLC (LLOY); Vodafone Group PLC (VOD); BT Group PLC (BT.A).

Top 3 Sectors traded in green*: Utilities (+0.62%), Consumer Cyclicals (+0.55%), Real Estate (+0.20%).

Top 3 Sectors traded in red*: Basic Materials (-1.69%), Technology (-1.03%), Financials (0.73%).

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 $73.45/barrel and $70.31/barrel, respectively.

Gold Price*: Gold price was quoting at US$ 1,807.90 per ounce, up by 0.75% against the prior day closing.

Currency Rates*: GBP to USD: 1.3831; EUR to USD: 1.1819.

Bond Yields*: US 10-Year Treasury yield: 1.282%; UK 10-Year Government Bond yield: 0.7405%.

*At the time of writing