FTSE 100 Competition Results week 10
Sterling plunges but lifts FTSE to new high
A strong week for UK stocks ended with the FTSE 100 at 6,915.75 its highest level this year, and its best level since the 26th February last year and up 2.6% from the previous week’s 6737.
The FTSE 100 soared after London’s multinationals were buoyed by weakness in the value of the pound. The currency took a tumble after suspension of the use of the AstraZeneca vaccine for under-30s and Sage experts claimed the Britain’s vaccine roll-out could dramatically slow, weighing on the economic recovery.
Even with this element of bad news only six of the FTSE 100 shares lost ground this week with the best movers being JD Sports up 7.3% ahead of good results expected next week, software group Aveva up 7.2%, Pershing (+6.5%) and Anglo American (+6.0%). Aveva has just won a Frost & Sullivan award for its food and beverage systems.
While the biggest of the six fallers was BT Group (-1.9%), followed by Flutter (-1.2%), Shell (-1.2%) and insurer Aviva (-1.1%) which is now quoted without the right to its latest dividend.
The impact of the market on our own FTSE 100 competition was a gain of 18 places for Alistair Noble (+£2537), 14 for Dougal the Cockapoo (+£2351), 13 for Jim Aitken and for the second week running of 11 for Toobad.
Our leader remains Gavin Riddell but everyone caught up on him a bit as his portfolio was the sixth worst performer of the week with a sober gain of £857. Second place Ginger Biscuit, third placed Lewis Grieve and fifth place Cruella DeVille made up valuable ground on the leader who remains ahead with a £7301 gain since 1st February.
Gavin is one of four entrants with gains in excess of £7000 but there are four competitors with losses greater than £4000! 88 of our 115 entrants are ahead at this stage but Nil Pettigrew still trails despite a gain of £1190 on the week?
So it was also a week where even those making gains lost places. Greatest loss of ground this week was Jennifer Grieve although she still made £504. Dropping the greatest number of places was Brian Duncan (+£932) and Karen Aitken (+£956) both down 11 places.
A funny old week then but certainly better trend for share prices.
For your information, since our competition start on 1st February the shares that have performed the worst are Ocado (-22.6%), Just Eat (-13.7%) and London Stock Exchange (-13.9%). The most popular choice - AstraZeneca is down 2.7%.
At the other end International Consolidated Airlines are up 47.0%, Barclays plc up 39.1%, NatWest up 33.2%, Lloyds up 31.1%. Well done to those who backed the banks.
