FTSE 100 Competition Results week 10

FTSE_100_WEEK_TEN_RESULTS.pdf
FTSE 100 opened the week on 7,911.16
FTSE 100 closed the week on 7,995.58. 

41 of the FSTE 100 made upward movements this week. The FTSE 100 came within touching distance of an all-time high on Friday, driven by a rally for mining stocks and fresh evidence that the UK economy is edging its way out of recession. It came at the end of an up-and-down week encouraged by Israel withdrawing troops from southern Gaza. Oil prices have been partially impacted by the conflict in the Middle East due to concerns about how it could affect supply.

EasyJet was a big risers after rejoining the UK’s top stock index in the course of our competition and therefore no one holds their shares. Its good news did however promoted a similar jump in the share price of British Airways and Iberia owner IAG Group. The boost reversed sharply however by the end of the week due to oil price rising and armed conflict.

Gold miner Fresnillo made steady gains throughout the week as the spot price of gold hit new all-time highs.  Gold was trading at record highs of nearly £1,866 per ounce as investors continued to drive a rally and central banks such as China bought up reserves of the precious metal. Copper miner Antofagasta and Anglo American were also among the biggest risers on the FTSE 100.

Wednesday saw a strong showing for retailers following Tesco publishing its impressive yearly results.

In the US, the release of the latest official inflation data, which showed that prices rose faster than expected last month killed off the chance of an interest rate cut in June. Markets have now pushed back the possible timing of the first rate cut to September and expect only two cuts this year rather than three.

On Thursday top European stocks fell after the European Central Bank decided to keep its key interest rate steady for another month. As the week came to a close investors were also in better spirits as official data showed that the UK economy grew in February, albeit by just 0.1%. It showed the country was taking steps out of the shallow recession it dipped into at the end of the year.

This week’s biggest risers on the FTSE 100 
Fresnillo +14.85% (good price soars on Middle East tension)
Rio Tinto plc +8.05% (another miner gains as commodities rise)
Endeavour Mining plc +7.97% (another miner gains as commodities rise)
Centrica +7.46% (energy stocks rally lifts British Gas owner)
BP plc +6.52% (oil giant reported to be takeover target)
Glencore +6.02% (metals trader and miner hails price rise)

This week’s biggest fallers on the FTSE 100
Phoenix Group Holdings -8.04% (inflation concerns hit insurance group)
Aviva plc -6.16% (another insurer fears inflations’s return)
Ocado Group plc -6.06% (recent results weigh on online grocer)
JD Sports Fashion -5.98% (trading update continues to hi5 retailer)
Sage Group plc -5.33%
easyJet -5.76% (oil price and armed conflict hit airline)
International Consolidated Airlines Group -5.27%

In our competition only 27 entrants made gains this week although 51 are still above their notional entry level of £50,000. Mover of the week was Lucky Limekilns up 14 places and slipping downwards most was Fiona Spriddle who lost 16 places. 

The top ten has been a fairly comfortable group up until this week when last week’s biggest movers continued their upward trajectory to interrupt at 4th and even taking the lead. Petroc Properties is up 13 places to fourth and Comrie Colliery, clearly a supporter of mining shares, is up 12 to first place. Despite losing £2130 on the week Sandy Paton is still in 11th place. 

Ian Grieve has a better week bit is still in the same company in the bottom six.

Two weeks to go