17:18 27/02/24
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The London stock market closed on a subdued performance on Tuesday after a mixed but largely flat trading trend as investors became cautious ahead of U.S. inflation data later this week.
of FTSE100 It ended the day with a slight decline of 0.02%, settling at 7,683.02 points. FTSE250 It increased by 0.19% and reached 19,163.66 points.
In the foreign exchange market, the pound was last trading flat against the dollar at $1.2685, but against the euro it rose slightly by 0.01% to trade at €1.1691.
“Risks to sentiment are taking a toll as U.S. durable goods orders fell month-over-month by the most since April 2020, while U.S. home prices rose by the most since November 2022,” he said. “I received it,” he said. I.G. Axel Rudolph, Senior Market Analyst.
“Thus, the rise in major stock indexes in the US and Europe has paused, although Germany’s DAX 40 index has hit a new record high as consumer confidence improved slightly.”
Rudolph added that supply insecurity is growing as transportation disruptions continue and oil prices have risen again amid repeated breakdowns in Gaza ceasefire negotiations.
“Gold prices are little changed, despite the dollar regaining some ground ahead of Wednesday’s second round of US Q4 GDP growth estimates and Thursday’s PCE inflation data.”
Store price inflation fell further in February
In economic news, the latest data shows UK over-the-counter price inflation hit an almost two-year low in February. British Retail Consortium – NielsenIQ Store price index.
The annual rate of increase was 2.5%, down from 2.9% in January, as supply chain pressures that affected food prices eased.
This rate of decline was lower than the three-month average of 3.3% and the lowest level since March 2022.
Non-food inflation remained flat at 1.3% year-on-year, while food inflation fell from 6.1% to 5.0%, continuing the slowing trend for 10 months.
However, according to BRC Chief executive Helen Dickinson said “significant uncertainties remain” amid rising geopolitical tensions.
“Non-food prices will be more susceptible to increased transport costs due to changes in import routes around the Cape of Good Hope,” she said.
Meanwhile, Mr Dickinson stressed that UK retailers are facing a significant increase in business rates bills for April, which was “determined by the very high inflation rates of last September”.
“April’s rate hike should be based on April’s inflation, and the Chancellor should use the Spring Budget to make this amendment, supporting business investment and helping to lower prices for consumers.”
On the African continent, German consumer sentiment is expected to stabilize at a low level next month, according to previously released survey data.
Consumer attitude index, joint release GfK And that Nuremberg Market Determination Institute (NIM) showed a slight increase heading into March, rising to -29.0 from the previous month’s revised -29.6, in line with expectations amid continued concerns for Europe’s largest economy.
Across the Atlantic, US durable goods orders experienced a significant decline in early 2024, primarily due to a sharp decline in orders for defense aircraft and parts.
Durable goods orders fell a seasonally adjusted 6.1% to $276.65 billion in January, compared with the consensus estimate of -4.5%, according to the Commerce Department.
This decline follows a downward revision from the previous month, with orders initially reported as flat but later revised to a 0.3% decline compared to December.
Total durable goods orders decreased by 0.8% compared to the same month last year.
Conversely, U.S. home price inflation rose at the end of 2023, pushing prices to new record highs.
of S&P Core Logic Case Shiller The US National Home Price Index (non-seasonally adjusted) accelerated to a 5.5% year-on-year pace in December, up from 5.0% the previous month.
According to S&P, this marks the seventh consecutive year of record high home prices and shows that the housing market remains strong despite widespread economic uncertainty.
Green miner Imperial Brands suffers over e-cigarette tax concerns
London stock market, major mining companies anglo american, antofagastaand rio tinto All recorded increases, increasing by 2.07%, 2.2%, and 0.88%, respectively.
Russ Mold, Investment Director AJ Bellpointed to the fact that China has “taken steps to boost confidence in its currency and economy ahead of a major leaders’ summit starting in Beijing in early March.”
flutter entertainment also did well, gaining 2.31% after upgrading from. barclaysThe company raised its stance on the stock from “equal weight” to “overweight” and raised its price target.
endeavor mining Shares rose 1.11% as wet commissioning activities began at Senegal’s Sabodara-Massawa expansion project, with first gold expected in early May.
close sibling group The stock jumped 7.78% after a recent slump due to the suspension of its dividend.
cruise operator carnival It rose 4.36% on positive news from Norwegian Cruise Line, which expected a surprise profit in the first quarter due to strong bookings for 2024.
As a disadvantage, Kuroda International It fell 3.16% after warning of lower operating margins due to customer inventory reductions and a weaker macroeconomic environment.
smith and nephew The stock reversed previous gains and ended 1.02% lower, despite posting better-than-expected full-year trading profits and raising its outlook for 2024.
curry The stock also rose on news of a sweet offer from investment firm Elliott Advisors, but gave up its gains with a fall of 0.37%.
abdon, jupiter fund managementand 91 Both experienced declines, and although Mr. Abdul said full-year losses narrowed, he warned that margins would be hit by clients’ shift to passive investing.
empire brand The stock fell 4.84% following reports that a tax on e-cigarettes may be announced in the next budget.
unilever Since then, the stock has fallen by 2.01%. morgan stanley It downgraded the stock, citing concerns about convertibility and exposure to emerging markets relative to peers.
Other than FTSE 305, on the beach Soared 13.44% after signing a long-term sales agreement with ryanairDespite recent tensions between the two companies.
Report by Josh White of Sharecast.com.
market mover
FTSE100 (UK X) 7,683.02 -0.02%
FTSE250(MCX) 19,163.66 0.19%
Techmark (TASX) 4,400.98 0.26%
FTSE 100 – Riser
Vodafone Group (VOD) 68.40p 3.51%
Flutter Entertainment (DI) (FLTR) 17,080.00p 2.31%
Anglo American (AAL) 1,760.00 pence 2.07%
SSE (SSE) 1,594.00 pence 1.92%
Burberry Group (BRBY) 1,311.50p 1.90%
Scottish Mortgage Investment Trust (SMT) 803.20p 1.44%
Antofagasta (ANTO) 1,798.50p 1.41%
BT Group (BT.A) 106.25p 1.19%
Diageo (DGE) 3,027.00 pence 1.15%
HSBC Holdings (HSBA) 602.40p 1.12%
FTSE 100 – Falls
Imperial Brand (IMB) 1,730.50p -4.84%
Croda International (CRDA) 4,748.00p -3.16%
Unilever (ULVR) 3,915.50p -2.01%
Information (INF) 810.60p -1.89%
Frasers Group (FRAS) 816.00p -1.86%
WPP (WPP) 713.80p -1.76%
SEGRO (SGRO) 849.20p -1.64%
BAE Systems (BA.) 1,235.50p -1.63%
Barratt Developments (BDEV) 470.40p -1.45%
Relux SPLC (REL) 3,454.00 pence -1.43%
FTSE 250 – Riser
Close Brothers Group (CBG) 357.60p 7.78%
Carnival (CCL) 1,140.00 pence 5.75%
Swiss Group (WOSG) watches 437.00p 4.70%
Mobico Group (MCG) 81.00p 4.58%
Darktrace (DARK) 361.00p 4.34%
Aston Martin Lagonda Global Holdings (AML) 176.50p 4.01%
Buckaball Group (BAKK) 95.20p 3.70%
inch cape (inch) 683.50p 3.64%
RHI Magnesita NV (DI) (RHIM) 3,588.00 pence 3.58%
Penone Group (PNN) 678.50p 3.34%
FTSE 250 – Falls
Abdon (ABDN) 156.20p -3.28%
FDM Group (Holdings) (FDM) 394.50p -3.07%
C&C Group (CDI) (CCR) 150.60p -2.96%
Ninety one (N91) 164.00p -2.67%
Hochschild Mining (HOC) 91.40p -2.66%
Tallow oil (TLW) 28.92p -2.63%
Jupiter Fund Management (JUP) 85.30p -2.51%
IWG (IWG) 188.10p -2.35%
Soft Cat (SCT) 1,475.00 pence -2.33%
Savills (SVS) 917.50p -2.28%