FTSE 100 Competition Results wk 5

Week_Five_Results.pdf

The FTSE 100 started week: 7,947.11
The FTSE 100 closed week: 7,748.35

The markets this week were described as weak and muted.

After China set a 5% GDP growth for this year, down from last year’s 5.5% target, which it missed by a large margin, this lower-than-expected target hit metals prices. Declines in the price of copper and iron ore weighed on the likes of Anglo-American, Glencore and Rio Tinto.  Rio Tinto going ex-dividend did not help mining stocks, with others like Antofagasta down in sympathy.

Insurers were among the fallers after a weak showing by Admiral who revealed profits slumped by 39% after it was hit by soaring inflation and the rising cost of motor claims in one of its most “challenging years” for decades.

Informa were popular after a $940m deal to acquire Tarsus and Aviva provided some relief after good results but the failure of Silicon Valley Bank affected some of London’s biggest financial institutions, spooked by the biggest failure of a US bank since the 2008 financial crisis.  It resulted in big falls for the biggest banks on the FTSE 100 – HSBC (-4.2%), Standard Chartered (–6.2%) and Barclays (-8.2%).

Ocado suffered most this week down 18% after prediction of large losses attributed to the cost of living crisis and return to ‘normal’ shopping habits. 

The FTSE 100 closed down 1.7% at 7,748.35 points, a reduction of almost 200 points and only 18 of the 100 showed gains this week.

Flutter Entertainment were the stars gaining on the back of strengthened revenues boosted by acquisitions and a strong performance in USA. Melrose Industries benefited from positive reviews that suggested they were a good buy. Media group,

This Week’s Best Performing Shares:-
Flutter Entertainment +5.5%
Melrose Industries plc +5.1%
Informa plc +2.8%
BT Group plc +2.4%
BAE Systems plc +2.4%
Centrica +2.1%

This Week’s Poorest Shares
Ocado Group -18.0%
Admiral Group -10.9%
Beazley plc -9.6%
Glencore plc -9.6%
Rio Tinto plc -8.3%
Barclays plc -8.2%

No big changes on our leaderboard where top 17 are the same people as the previous week. The table is still topped by Robbeath though Zona Paton on second is edging closer. Mark Grant remains third but Joni moves above Spider and into fourth place.  Tom P moved up 16 places but still lies 23rd. 

Only 16 entrants are ahead on their notional £50,000 investment. At the foot the bottom six are the same entrants as last week with Shark’s 15 place slide leaving him just above them.

Winners and losers this week:-
Tom P +16
Fiona Spriddle +9
Sarah Grieve +7
Liz P +6
George P +6

Ginny Pie -6
Steve McLaren -6
James Grieve -6
Lynsey Spriddle -8
Shark -15