FTSE 100 Competition Results Week 8
Leader and top ten entrants remain the same
This week the FTSE 100 showed only a slight gain up from 7204.55 to 7237.57. 60 of the 100 shares gained on the week. Chancellor Rishi Sunak’s Budget talk of higher inflation, potential interest rates rises and a tightening of government debt dampened the spirits. Poor third quarter results from Royal Dutch Shell dragged oil shares down despite the continued rise in oil prices to multi-year highs.
Nevertheless on Tuesday the FTSE 100 hit another 20-month high with the market boosted by strong showings by consumer, travel and services firms. Later in the week better than expected company trading updates helped to see increases in WPP, Whitbread and Reckitt Benckiser.
Shares in some of the pubs and hospitality sector also enjoyed a boost from the chancellor’s announcements around alcohol duty changes.
Best performers this week were:-
- WPP plc up 10.8%
- Compass Group plc up 7.5%
- Reckitt Benckiser Gp up 7.4%
- GlaxoSmithKline up 6.2%
- Inter Continental Hotels up 5.5%
- International Consolidated Airlines up 5.0%
Biggest Losers this week were:-
- Just Eat Takeaway down 8.8%
- London Stock Exchange down 6.6%
- BAE Systems down 6.4%
- Fresnillo down 5.8%
- Admiral Group down 5.4%
- Smiths Group down 4.7%
- Royal Dutch Shell down 4.7%
In our competition Shell’s demise saw our leader, Douglas S, lead cut to just £2K rather than £3K. Sammy the Tammy moved back into second but the top ten on the leaderboard remained unchanged but shuffled.
33 of our competitors are showing gains since the 1st September start and 45 made positive moves this week. Biggest movers were The RSM up 33 places due to a gain of £2507 while Smokey The Bandit made up 28 places after gaining £2361. Biggest slide was made by Jim Aitken down 24 places after a loss of £1210. Other big loss this week was Spider down £984.
Still five weeks to go so a lot can change yet!
