MARKET ITEMS: Relief when stocks bounce in London, Europe and Wall Street after falling market on Monday

London stocks jumped as a result of a much-needed rally after a bloodbath in world markets earlier in the week.

The FTSE 100 rose 0.37 percent, or 26.64 points, to 7,243.22, and the FTSE 250 rose 0.41 percent, or 78.24 points, to 19,384.96.

European stock exchanges followed suit: Germany’s Dax rose 1.15 percent and France’s CAC 40 rose 0.5 percent.

Recovery: FTSE 100 rose 0.8% and FTSE 250 rose 0.8%. European exchanges followed suit: Dax rose 1.7% and CAC 40 added 1.2%

However, the Wall Street rally lost its effectiveness, and US markets saw more mixed performance despite early profits.

The S&P 500 alone rose just 0.2 percent, while the tech Nasdaq closed 0.4 percent and the Dow Jones Industrial Average fell 0.26 percent.

Despite mediocrity in the US, growth in London has given some respite in a gloomy year for global stock markets that have been knocked down by cocktail worries including inflation, rising interest rates, new Covid-19 outbreaks in China and the war in Ukraine .

Defensive stocks, which are believed to provide stable profits and dividends in any weather, helped raise rates in London: tobacco company Imperial Brands rose 1.5 percent, or 24 pence, to 1,676.5 pence, and BAT rose by 0.1 percent or 4.5 pence. , up to 3306.5 rubles.

Both groups were prompted by news that U.S. rival Philip Morris, a Marlboro cigarette maker, was close to securing a £ 13 billion acquisition of nicotine bag maker Swedish Match, sparking talk of a potential bidding war.

Dividend payers rose as investors sought better returns after the last sell-off: consumer goods giant Unilever added 1.8 percent, or 64.5 pence, to 3,700.5 pence, and Barratt Developments added 2.6 percent, or 12 pensions. to 471.1 pence.

“The story came from ‘How can I make money?’ on “how can I protect my money?” said AJ Bell Investment Director Ras Mold.

Stock Clock – Treatt

Shares of Treatt fell after a group of ingredients reported disappointing results for the half year.

Profit before tax for the six months to the end of March fell to 6.3 million pounds from 10.4 million pounds for the same period last year, despite revenues rising 9 percent to a record 66.3 million pounds.

Profit margins have been hit by the protracted effects of Covid-19, although it is still expected to meet market expectations all year after record orders.

Shares fell 17 percent, or 171 points, to 833 pensions.

“Investors are increasingly preferring stocks with generous dividends, because the flow of cash payments is at least one form of positive return on investment.”

Other notable rows were engineer Melrose (up 3.8%, or 4.05p, to 111.65p), Aveva industrial software group (up 1.9%, or 40p, up to 2117p) and packaging giant Smurfit Kappa. growth of 2% or from 65p to 3288p).

Among those affected, telecommunications giant Airtel Africa fell 2.7 percent, or 3.9 pensions, to 140.2 pensions, and cybersecurity specialist Avast lost 2 percent, or 10.1 pence, to 499.3 pence.

Bank stocks rose amid hopes that further interest rate hikes will boost profits.

HSBC rose 0.6 percent, or 3 pensions, to 495.7 pence, Standard Chartered rose 1.4 percent, or 7.4 pence, to 554.4 pence, and Lloyds jumped 0.6 percent, or at 0.25 pence, to 42.59 pence.

NatWest and Barclays made profit in early trading, but both closed: the former by 0.2 percent, or 0.5 pence, to 203.6 pence, and the latter by 1.6 percent, or 2.34 pence, to 143.64 pence.

The Renishaw engineering group fell 3.3% or 136p to 4054p after it noted rising costs as a result of rising energy prices and hiring more staff.

The news overshadowed a strong renewal in trade, which saw the firm’s profits rise 47 percent over the same period last year to 124 million pounds in the nine months to the end of March.

Budget carrier Wizz Air has revealed that it is considering expanding in Saudi Arabia after signing an agreement with the kingdom’s investment ministry.

The agreement came at a time when the country expects to triple passenger traffic by 2030 in a bid to boost its aviation and tourism markets. However, shares of Wizz Air fell 0.7 percent, or 21 pence, to 2,881 pensions.

Ferrexpo iron ore production rose 2.4 percent, or 3.3 pence, to 140 pence after announcing final dividends despite the protracted crisis in Ukraine.

The payment will be about 5 retirees per share, although it is 50 percent less than the amount paid last year.


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