Tuesday, February 27, 2024
HomeftseUK Stocks Rise as FTSE 100 Index Sees Increase in Specialty Retail...

UK Stocks Rise as FTSE 100 Index Sees Increase in Specialty Retail and Reits Companies

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UK stocks closed higher on Tuesday, with the FTSE 100 Index rising by 0.20% to reach 7,440.47. Among the FTSE 100 constituents, specialty retail company DCC PLC saw the largest increase, with shares surging by 12.47%. Food retail firm Ocado Group and diversified reits company British Land Co. also saw significant gains, with their shares climbing by 10.10% and 9.70% respectively.

Land Securities Group, a diversified reits company, and industrial/office reits company SEGRO PLC rounded out the top five largest increases as their stocks rose by 6.51% and 6.44% respectively.

On the other hand, Vodafone Group, a wireless telecommunications services company, experienced the largest drop among the FTSE 100 constituents, with shares falling by 5.54% on Tuesday. Defense equipment/products firm BAE Systems and wired telecommunications services company BT Group PLC also saw declines, with their shares declining by 3.16% and 2.77% respectively.

M&G PLC, an investment advisors company, and publishing firm RELX PLC rounded out the top five largest decreases as their stocks declined by 2.31% and 2.13% respectively.

In the currency market, the pound performed well, rising by 1.66% against the dollar at $1.2484 and by 0.13% against the euro at €1.1494.

Meanwhile, Brent crude climbed by 1.1% to reach $83.39, and the yield on the 10-year gilt fell by 16.170 basis points to 4.157%.

More detail via MarketWatch here… ( Image via MarketWatch )

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