How the UK markets’ performed amid stamp duty extension reports? | UK Market Update

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How the UK markets’ performed amid stamp duty extension reports? | UK Market Update

The London markets traded on a mixed note after the sterling pound continued its rally against the US dollar and the Euro. FTSE 100 traded marginally lower by around 0.14% due to continuing inflation fears and stronger pound hitting exporters.

British Finance Minister Rishi Sunak is prepared to extend the stamp duty holiday by three months till June 2021 end.

Shares of Barratt Developments, Taylor Wimpey and Persimmon surged by around 2.19%, 1.68% and 1.43%, respectively, driven by stamp duty extension reports.

British Consumer Goods giant Reckitt Benckiser Group shares dropped by approximately 1.37%, although the Company had reported a surge in FY20 sales driven by the Covid-19 pandemic.

Furthermore, the Company had anticipated sales growth during FY21 as well. Lloyds Banking Group had reported a 72% slump in annual profits.

However, the Company had reinstated dividend payments. Moreover, the shares plunged by around 1.72%.

Covid-19 vaccine provider Omega Diagnostics Group, shares went down by approximately 0.65% after presenting new data regarding their AbC-19 rapid antibody test performance.

Vodafone Group’s subsidiary Vantage Towers had announced that it would be listed on Frankfurt Stock Exchange by the end of March 2021. Meanwhile, the shares went down by around 2.42%.

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