Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

FTSE 100 lower, TUI questions London listing after record quarter

Published 13/02/2024, 11:15
Updated 13/02/2024, 11:15
© Reuters FTSE 100 lower, TUI questions London listing after record quarter

Proactive Investors -

  • FTSE 100 down 16 points at 7,557.
  • Unemployment beats expectations at 3.8% in December.
  • TUI (LON:TUIT) questions London listing after record quarter.

Today’s FTSE 100 risers and fallers so far

DS Smith PLC, GSK PLC (LON:GSK) and Anglo American (JO:AGLJ) led the FTSE 100 risers come mid-morning on Tuesday.

Shares in DS Smith (LON:SMDS) sat 1.6% higher, with reports having circulated in recent days over an impending takeover offer from rival packaging firm Mondi PLC (LON:MNDI).

Anglo American climbed by 1.3%, followed by GSK's 1.2% gain meanwhile, with the latter having been granted an upgrade by CitiGroup earlier in the day.

Frasers Group PLC (LON:FRAS) led the fallers, with losses of 2.4%, which themselves came after gains on the back of a share buyback announcement on Monday.

Scottish Mortgage Investment Trust PLC (LON:SMT) and Rolls-Royce Holdings PLC (LON:RR) then followed closely with losses of around 2.4% each respectively.

Scottish Mortgage’s turbulence is said to follow losses by Tesla Inc (NASDAQ:TSLA), which makes up its seventh largest holding, overnight.

In case you missed it… BoE governor says shallow recession no big deal

Bank of England governor Andrew Bailey played down the importance of figures due later this week which some expect will show the UK dipped into recession late last year.

UK gross domestic product (GDP) figures are due to be released on Thursday, with analysts having warned these look likely to show that the three months to December brought a second consecutive quarter of negative growth.

Though this would mean the UK had slipped into a technical recession, Bailey said he “would not put too much weight on that,” when speaking at Loughborough University on Monday night.

“If we do get two successive negative quarters [...] it will be very shallow,” he continued.

“What I would put more weight on is that the indicators we have seen since have shown some signs of upturn.”

A recession over the back end of last year would mark the first since the pandemic, or since 2009 when not accounting for Covid-19-related lockdown measures.

Read more on Proactive Investors UK

Disclaimer

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.