The UK stocks experienced decline on today, thereby extending the 3-week long declines for the benchmark stock gauge FTSE 100 Index. Most of the mining companies went down attributing to the decline. Apart from that, the export growth of China declined to a figure which is the lowest in the last 10 months as well.
The benchmark stock gauge FTSE 100 Index went down by 11.54 points or 0.2%. The benchmark gauge is currently at 6,400.45. The gauge swung between wins and losses throughout the day, for at least 8 times. For the last 3 weeks consecutively, the gauge has experienced declines as there were concerns on the Federal Reserve squeezing its quantitative easing program if the US economy shows sustained growth. Incidentally, the quantitative easing program of the Federal Reserve helped the measure to reach its highest level in the last 14 years. Incidentally, the broader FTSE All Share Index declined by 0.1% on today. On the other hand, the benchmark stock gauge of Ireland, ISEQ Index went down by 0.4%. The overall trading volume at the FTSE 100 listed companies was 16% less in comparison with the average of the last 30 days.
According to the Departmental Head of Research at Charles Stanley Group, Jeremy Batstone-Carr, the markets have started to act more volatile off late and it really doesn’t matter that which asset class an investor is actually looking at. Jeremy added further that the focus is currently on the macro stories. The overall global growth story is intact at this point of time, however, the investors seem to be going towards a slight derisk mode now.
Among companies, Anglo American went through a slid of 2.8% and each share is currently priced at 1,421.5 Pence. Rio Tinto saw its shares declining by 2.4%, taking each share price to 2,740 Pence. Vedanta Resources went down by 2.3% as well, each share being priced at 1,212 Pence now.
Mulberry Group went down by 8.2% as each share is now priced at 980 Pence. ITV, on the other hand, experienced a surge of 3.7%, taking each share price to 134.2 Pence. Libreum stated that ITV shares will be on buy recommendation and then increased the price estimate of the broadcaster’s shares by 29%, thereby adding positivity. Shares of Electrocomponents and Premier Farnell experienced declines of 1.7% and 2.2% respectively.