FTSE Trends: A Mixed Bag of Gains and Losses
The FTSE 100 experienced a slight decline, influenced by energy and bank stocks, while the FTSE 250 rose. In notable movements, Entain saw gains following a Jefferies upgrade, and UK retail sales rose amid favorable conditions. Meanwhile, Ashmore faced challenges with lower-than-expected results.
The FTSE 100 index of Britain saw a marginal decline of 0.1% by closing time on Friday, as energy and bank stock struggles overshadowed positive domestic and U.S. economic assessments. Despite this, the index concluded the week with a small increment.
The FTSE 250, more focused on the domestic market, recorded a 0.5% rise, buoyed by homebuilding stocks. Companies like Berkeley made significant gains, reaffirming profit forecasts, while precious and industrial metals miners benefited from robust gold and copper prices, respectively.
Energy and bank stocks faced downturns, with Shell and BP significantly affected, while non-life insurers like Admiral Group also suffered. In contrast, Entain topped FTSE 100 following a Jefferies upgrade. Amidst lower-than-expected results, Ashmore's stocks fell. The market is also wary of potential tax hikes expected ahead of Britain's upcoming budget announcement.
Google News