FTSE 100 Competition Results week 11
Our competition is still led by Gavin Riddell with a £7941 gain but the top eight are separated by less that £1000.
Our competition is still led by Gavin Riddell with a £7941 gain but the top eight are separated by less that £1000. Ginger Biscuit in second has gained £7828, Sandy Paton in third +£7575. ScotMac9 closed in to ninth with a £1542 gain.
Having started the week at 6915.75 the FTSE 100 moved higher to trade above 7,000 for the first time since February 2020 as investors mulled encouraging Chinese growth figures. The FTSE closed on Friday at 7,019.53.
Sterling traded stronger as well, gaining 0.28% on the dollar and advancing 0.21% against the euro.
A big rebound in China first quarter GDP numbers, as well as a strong retail sales number, has served to add fuel to the fire of optimism that has coursed through global markets this week, in the wake of bumper US retail sales number.
However, caution exists that the Covid-19 epidemic is still spreading globally and the international landscape is complicated with high uncertainties and instabilities.
Mining shares were in the positive after the Chinese data, with Antofagasta rising 8.2%, Rio Tinto up 6.9% and Polymetal up 6.8 %. The only stock to do better than that was the previously unpopular Just Eat up 9.1%.
18 of the 100 lost ground this week with the frontrunners being Rolls Royce (-6.5%), Legal & General (-5.9%), Standard Life Aberdeen (-3.9%) and SSE (-3.3%).
The best movers in our FTSE 100 competition only affected positions well down the league table: Douglas S up 22 places to 63rd due to a £2049 gain, Kim Campbell and Ian & Freya Pettigrew gained 15 places. Biggest drop was Market Trader down 17 places to 56th and Captain Slow -14.
Largest weekly gain was made by Dunfy Doug +£2076 and tailender Nil Pettigrew maintained last place despite making the fourth best gain of the week £1745. Losses were only made by 7 of our 115 entrants, led by Maureen Walters -£629.
97 of our entrants are up since the start date of 1st February. With two weeks remaining our contest is at a crucial stage so stay tuned!
