UK stocks closed lower on Friday, with the FTSE 100 Index falling by 0.86% to 7,291.28. Among the FTSE 100 constituents, NatWest Group PLC experienced the biggest drop, with shares plunging by 11.56%. Lloyds Banking Group PLC and Intertek Group PLC also saw their shares decline, by 3.44% and 3.00% respectively. Pharmaceuticals company GSK PLC and firm Diageo PLC rounded out the top five largest decreases, with their stocks declining by 2.79% and 2.72% respectively. On the other hand, Rentokil Initial PLC, a diversified business services company, saw the largest increase among the FTSE 100 constituents, with shares rising by 3.59% on Friday. Precious metals firm Fresnillo PLC and paper/pulp company Mondi PLC also experienced gains, with their stocks rising by 2.96% and 2.31% respectively. RS Group PLC, a wholesalers company, and gambling industries business Flutter Entertainment PLC rounded out the top five largest increases, with their stocks rallying by 2.30% and 1.75% respectively.
In currency markets, the pound was up 0.16% against the dollar at $1.2148, while it was down 0.09% against the euro at €1.1471. Meanwhile, Brent crude rallied by 0.9% to $87.80, and the yield on the 10-year gilt fell by 6.800 basis points to 4.539%.
It is important to note that this story was auto-generated by an automation technology provider, using data from Dow Jones and FactSet.
The FTSE 100 Index, which represents the performance of the largest companies listed on the London Stock Exchange, ended the week on a downward trend, reflecting the broader uncertainty in global markets. The decrease of 0.86% to 7,291.28 was driven by significant drops in the shares of several major companies.
NatWest Group PLC, formerly known as Royal Bank of Scotland, experienced the largest drop among the FTSE 100 constituents, with shares plunging by 11.56%. This decline comes amidst concerns over the impact of Brexit and the uncertain economic outlook. Lloyds Banking Group PLC and Intertek Group PLC also saw their shares decline, by 3.44% and 3.00% respectively.
The pharmaceuticals sector was also affected, with GSK PLC and Diageo PLC both experiencing significant decreases in their stock prices. GSK PLC, a leading pharmaceutical company, saw its stocks decline by 2.79%, while Diageo PLC, a global producer of alcoholic beverages, saw its stocks decline by 2.72%.
On a more positive note, Rentokil Initial PLC, a diversified business services company, saw the largest increase among the FTSE 100 constituents, with shares rising by 3.59% on Friday. This increase reflects the company’s strong performance and positive investor sentiment.
Shares of precious metals firm Fresnillo PLC and paper/pulp company Mondi PLC also experienced gains, rising by 2.96% and 2.31% respectively. RS Group PLC, a major wholesaler, and Flutter Entertainment PLC, a leading gambling industries business, rounded out the top five largest increases, with their stocks rallying by 2.30% and 1.75% respectively.
In currency markets, the pound showed some strength against the dollar, up 0.16% at $1.2148. However, it was down 0.09% against the euro at €1.1471. This reflects the ongoing uncertainty surrounding Brexit and its impact on the UK economy.
Meanwhile, Brent crude, the international benchmark for oil prices, rallied by 0.9% to $87.80. This increase comes amidst concerns over global supply disruptions and geopolitical tensions in the Middle East.
The yield on the 10-year gilt, a key indicator of UK government bond yields, fell by 6.800 basis points to 4.539%. This decline in yields reflects increased investor demand for government debt and the expectation of lower interest rates.
It is important to recognize that this story was generated by an automation technology provider, using data from Dow Jones and FactSet. While the data provides an overview of market movements, it is crucial for investors to conduct thorough research and analysis before making any investment decisions.
More detail via MarketWatch here… ( Image via MarketWatch )
