FTSE 100 Competition Results week 6
FTSE 100 index ended the week close to its midweek nine-month high.
Shares in London dipped slightly on Friday but the FTSE 100 index ended the week close to its midweek nine-month high.
FTSE 100 opened on Monday on 7660
FTSE 100 closed on Friday on 7,727
Mining and commodity firms with exposure to China rallied, while the FTSE 100 was also helped with rising metal prices as copper joined gold and silver in gaining ground. Shares in Glencore, Antofagasta and Anglo American all rose as a result.
The Office for National Statistics announced a 6.1% slowdown in wage growth that average regular pay growth, marking the slowest growth for more than a year. Traders took the data as a sign interest rates might need to be cut earlier than previously expected, boosting UK equities and knocking the pound in the process.
However news that US producer price index inflation was hotter than expected at 1.6% for the month, stoked expectations interest rates will remain high at the next Federal Reserve meeting. This caused markets across Europe to lose momentum.
Reckitt Benckiser Group was told by a jury in the US that it has to pay $60 million (£47m) to a mother who claims her child died after drinking Reckitt’s baby formula. Reckitt Benckiser share price slumped to a 10-year low down losing over 13% week on week as the fine seems to suggest that more litigation could follow.
Hurt in part by a terrible performance from Reckitt, the FTSE 100 fell 15.73 points, or 0.20%, to end the week at 7,727.42.
Best Performers of the week:-
Antofagasta plc +10.09% (Miner surges on higher copper prices)
Smurfit Kappa Group +6.29% (Packager up on rosier economic outlook)
Admiral Group +6.26% (Insurer rebounds after recent weakness)
Glencore plc +6.10% (Miner urged to move listing to Sydney)
Weir Group +4.80% (Further strengths after engineer’s results)
Scottish Mortgage Inv Trust +4.75%
Worst Performers of the week:-
Reckitt Benckiser Group -13.13% (Group loses US baby formula lawsuit)
St James’s Place plc -9.59% (£426m refund weighs on wealth manager)
Segro plc -4.80% ( Warehouse owner in £1bn share issue)
NatWest Group plc -4.15% ( Government to sell stake in bank)
SSE plc -4.06%
In our Fantasy FTSE 100 competition positive Movers of the Week is Idonotrecollect up 16 places as a result of a £1511 profit, and up nine places are Lucky Limekilns, Are A Itch and Petroc Properties.
Sliders this week are led by Fiona Spriddle who although making £55 this week fell 12 places followed by nine places dips for Maureen Walters, Jean Spriddle, Roths Child and Aileen North.
In our contest only ten of our entrants made losses and even those were not significant, though Donald Mackay might disagree. His £840 drop the biggest of the week.
Zona Paton jumped back into the top ten with the best gain of the week, £1615 closely followed by Trauts £1568 better off than last week. He moves into sixth place but Barry still leads the way although Sandy Paton in second has narrowed the gap, now just £252 behind.
Despite a £206 profit this week, Ian Grieve still holds on to 57th place kept good company by Sarah Grieve and Dolphin Square.
Lots more to happen before the end of April. On to week 7
