FTSE 100 Competition Results week 8

FTSE_100_WEEK_EIGHT_RESULTS.pdf 

FTSE 100 opened the week on 7,930.92
FTSE 100 closed the week on 7,952.62 

The UK’s top stock market index has edged closer to an all-time high as it closed the quarter with a pre-Easter boost.  Revised official figures showed the UK economy contracted by slightly less than expected during the second half of last year. This slight upgrade to UK economic data, contributed to the FTSE closing up 21.70 points on the week, nearer to the 8,000 mark it last surpassed in February last year.

There was strong analyst response to Kingfisher in the early part of the week and there were share price gains for it and fellow retailers, M&S, Sainsburys, B&M and Burberry, offset by losses including for housing stocks Rightmove.

It was announced that the government’s stake in NatWest Group has dropped to below 30% for the first time since the bank was nationalised in the 2008 financial crisis.  The bank, which also owns Royal Bank of Scotland (RBS) and Coutts, still gained 1.69% on the week.

There was a midweek boost for the share prices of Diploma and DS Smith rising by nearly a 10th. DS Smith said it was in talks with a US-based paper producer, despite having agreed a deal with British rival Mondi and setting up a bidding war.

Furthermore, investors were feeling positive about Diploma after the distribution business agreed to buy a US firm specialising in aerospace fasteners.

JD Sports made a massive leap in value this week after it said it expects profits to be in line with its previous guidance of between £915 million and £935m before tax. The company opened 215 new JD shops in the year to early February and said the launch of a new UK loyalty programme had been “encouraging” and has attracted 800,000 downloads so far.

Although not now in the FTSE 100 Endeavour Mining did well for its investors up 10.36% on the week.

FTSE 100 biggest risers
JD Sports Fashion +22.55% (positive trading outlook boosts retailer)
DS Smith +13.44% (bidding war for packaging firm intensifies)
Diploma +7.82% (acquisitionlifts engineering group)
International Consolidated Airlines +7.48% (JP Morgan brokers positive about BA owner)
Kingfisher +6.76% (B&Q owner shrugs off profit decline dip)

FTSE 100 biggest fallers
Flutter Entertainment -8.17% (investors cash out as losses widen)
Auto Trader -8.16% (broker’s target cut hits motor marketplace)
M&G -7.66% (investment manager goes ex-dividend)
Spirax-Sarco Engineering -5.14% (investors impatient for return to growth)
Smith & Nephew -4.56% (sports medicine deal fails to impress)

Movers of the Week are the Grieves, Lewis up 28 places to 18th and James up 27 to 22nd rewarded as their faith in JD Sports has finally paid off.  Liz P up 17 and Jim Aitken up 8 also benefitted from the JD effect. Are a ich and Jean Spriddle also made good ground as their retailers’ shares rose.

Sliders of the Week. Auto Trader was bad news for Ice Man who was down 17 places to 36th, while Idonotrecollect also shed 14 places to 40th.

46 of our entrants made gains this week, three being up more than £3000 in the four days of trading. Barry retains top spot but Jim Aitken moves up from tenth to second. Yet again the same ten entrants occupy the top ten places. At the other end the same four entrants still occupy positions 54 to 57 but Ian Grieve gained £1365 to be relieved of last place by Dolphin Square.

There are four weeks left of our Fantasy FTSE 100 competition. Anything can happen next although the market currently seems to be positive and lacking volatility.