Breaking News
Get 40% Off 0
👀 Reveal Warren Buffett's stock picks that are beating the S&P 500 by +174.3% Get 40% Off

FTSE 100 surges led by NatWest and mining stocks

Published Nov 17, 2023 19:36
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.
 
UK100
+0.69%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
NWG
+3.22%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
FCHI
+0.09%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
DE40
0.00%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
SWI20
+0.48%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
PRU
+0.62%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

LONDON - The FTSE 100 index closed notably higher today, with NatWest (LON:NWG) standing out after Barclays (LON:BARC) upgraded the bank to 'overweight'. The positive adjustment is due to NatWest's effective management of deposit migration and funding risks, which is expected to result in increased net interest margins (NIM) and profits. The broader European equity markets also ended the day with significant gains amid expectations that central bank interest rates may remain steady or even reduced into the next year.

The uptick in the FTSE 100, which concluded at 7,498.66 points, was supported by several key performers. Mining companies like Anglo-American and Fresnillo (LON:FRES) were among the top gainers, with respective rises of 3.65% and 3.20%. Insurer Prudential (LON:PRU) and banks such as Standard Chartered (OTC:SCBFF) also contributed to the rise, climbing by over 3%. Other notable gainers included Glencore (OTC:GLNCY), Land Securities Group (OTC:LDSCY), DCC (LON:DCC), Halma (LON:HLMA), and Hargreaves Lansdown (LON:HRGV).

In contrast to this upward trend, retailers Marks & Spencer (OTC:MAKSY) and B&M saw their shares decline following an unexpected drop in October retail sales as reported by the Office for National Statistics (ONS), which went against earlier predictions of an increase.

Across Europe, the Stoxx 600 rose by 1.01%, Germany's DAX advanced by 0.84%, France's CAC 40 grew by 0.91%, and Switzerland's SMI increased by 0.89%. In the UK market, British Land Company and Standard Chartered saw jumps between 3% to 4.5%, while other stocks like TUI (LON:TUIT) and Flutter Entertainment also finished higher. Germany's Siemens Energy led gains with nearly an 8% increase.

Despite these gains, Volvo (OTC:VLVLY) Cars faced a significant drop of 11% after its shareholder Geely initiated a discounted share sale, while Alstom (EPA:ALSO)'s stock decreased by approximately 1.7%.

The Eurozone inflation rate was confirmed at 2.9% by Eurostat, marking the lowest point in over two years and suggesting easing inflationary pressures. The euro area current account surplus held steady at EUR 31 billion despite a reduction in goods trade surplus for September.

Today's market movements reflect a mix of corporate developments and macroeconomic data that influenced investor sentiment across Europe.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

FTSE 100 surges led by NatWest and mining stocks
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email