After 10-Day Rise, UK Stocks are Mostly Unchanged

On yesterday, the benchmark stock gauge of UK, the FTSE 100 Index went to its highest level since October, 2007 and the longest streak of gains was completed by the stock in the last 4 years. The UK stocks were mostly unchanged on today. The FTSE 100 Index went ahead by 6.71 points and the same is now at 6,700.26. On yesterday, the equity benchmark completed the longest streak of gains since July, 2009. In 2013, the gauge has experienced an increase of 14%, mainly being helped by the decision of the various central banks to continue with the stimulus measurements. On the other hand, the broader FTSE All Share Index increased by 0.1%. The benchmark gauge of Ireland, ISEQ Index jumped ahead by 0.3% as well. On today, the total volume of shares being traded at the FTSE 100 companies was 19% above the average of last 30 days.

As stated by the Chief Investment Officer of Allianz Global Investor’s Equities Department, Lucy Macdonald, if the stimulus keeps coming, the benchmark gauge will continue to surge ahead. Macdonald acknowledged that there is a certain bubbly feeling occurring, however, if absolute valuations are looked at against history, things are definitely not out of line.

Among companies, Aviva was able to record its biggest gain in the last 8 months as a report came out stating that they experienced 18% increase in the value of its new business. The shares of the company increased by 4.5% and each share is now priced at 337.6 Pence. In the 1st quarter of 2013, the value of the new business increased to 191 million Pounds. The worth of the same, a year ago, was at 162 million Pounds.

On the other hand, National Grid experienced a loss of 1.8% as each share is now at 829 Pence. As announced by the company, the US storms including the Hurricane Sandy cut the operating profit by around 136 million Pounds and this had a negative influence on the shares.

Thomas Cook Group recorded its highest price in the last 2 years as each share is now at 156.1 Pence, after surging ahead by 7.9%. Renowned maker of Nitrile Latex, Synthomer declined by 10% and each share is currently at 201.7 Pence. The company announced that the demand was weaker in March and April, than what was forecasted.