FTSE 100 Competition Results week 10
Little drama in this week in our competition
FTSE 100 opened the week at 7,741.56
FTSE 100 closed the week at 7,871.91
80 of the top 100 made gains this week.
London’s top index benefited from weakness in the pound as shares in multinationals rose and strong sessions for banks helped the FTSE 100 climb to another month-high as it struck its fourth consecutive week of gains.
The trading week didn’t start until Tuesday and the mood after the holiday was described as traders buoyant. The price of gold and silver benefited with the latter trading close to the previous week’s near one-year high while the oil price was also seen to head higher. Consequently miners like Antofagasta and Glencore helped boost the FTSE 100.
Travel shares, including British Airways owner IAG, took a hit after American Airlines issued a profit warning.
On Thursday Tesco was among the FTSE 100’s strongest performers after it made £1 billion profit despite soaring food prices over the year to February. It was less than half its profits from the previous year but towards the top end of previous guidance amid heavy cost pressure and supermarket’s shareholders positively.
HSBC shares ended the week strongly boosted by updates from US rivals while it also said the sale of its French retail business is on the verge of collapse but still was only up a modest 3.8% on the week.
Best performers this week were as follows:-
Antofagasta plc +9.7%
Glencore plc +7.5%
Barratt Developments plc +7.1%
Kingfisher +6.2%
Rightmove plc +6.1%
Smith & Nephew +6.0%
Poorest performers of the week were as follows:-
Unite Group -3.4%
Beazley plc -3.2%
International Consolidated Airlines -2.1%
National Grid -1.9%
Severn Trent plc -1.9%
Haleon plc -1.7%
Our FTSE competition continues with a disappointing lack of drama. Ginny Pie was the best mover of the week gaining six places to go into 24th. Biggest slip of the week was Midge losing nine places to go to 30th
The top ten remain the same ten with a slight shuffle. Mark Grant still leads from Zona Paton in second. The margin of lead fell from £517 to £498 and with only two weeks remaining, the only question is can third placed Robbeath or fellow pursuers Halbert or Joni close the gap?
At the bottom Comrie Colliery’s five place jump takes him to 39th but smellthecoffee slid four to 47th. The last four remain the same but Jennifer Grieve closed in on 50th place while still trailing by £1793.
