Share Prices & Company Research

Market News

16 Feb 2021 | 11:13

London midday: Stocks nudge lower as rally runs out of steam

(Sharecast News) - London stocks had dipped into the red by midday on Tuesday as the rally from the previous session ran out of steam.

The FTSE 100 was down 0.1% at 6,751.35, giving back some gains after surging on Monday on the back of optimism over the vaccine rollout and recovery hopes. Sterling was up 0.1% against the dollar at 1.3923.

As the rally lost momentum, IG analyst Chris Beauchamp said investors will be looking to the US for more concrete direction.

"A host of Fed speakers this week provides some hurdles for investors to navigate, but the dominant theme should continue to be the push to provide direct support for US consumers, complementing the low interest rates and QE for the corporate sector," he said.

In equity markets, homeware retailer Dunelm slumped after deputy chairman Will Adderley sold 15m shares in the company, a stake of about 7.4%, at a 9% discount to the closing share price on Monday.

Some of the travel and leisure stocks that had gained on Monday were in the red, with catering group Compass, pub chain Mitchells & Butlers, Upper Crust owner SSP and cruise operator Carnival all lower.

On the upside, miner Glencore gained after its full-year adjusted earnings beat expectations and it reinstated its dividend.

Australia's BHP also advanced as it declared a record interim dividend after reporting a rise in profits driven by Chinese demand for iron ore. Other miners followed suit, with Rio, Anglo American and Antofagasta all higher.

Serco surged after the outsourcer agreed to buy Whitney, Bradley & Brown Inc (WBB), a provider of advisory, engineering and technical services to the US military, for $295m.

Market Movers

FTSE 100 (UKX) 6,751.35 -0.07% FTSE 250 (MCX) 21,368.41 -0.24% techMARK (TASX) 4,162.99 -0.33%

FTSE 100 - Risers

Glencore (GLEN) 291.35p 3.21% Evraz (EVR) 549.40p 2.65% Rolls-Royce Holdings (RR.) 98.22p 2.23% HSBC Holdings (HSBA) 418.40p 1.94% Rio Tinto (RIO) 6,297.00p 1.79% Anglo American (AAL) 2,837.00p 1.58% BHP Group (BHP) 2,263.00p 1.57% Antofagasta (ANTO) 1,613.00p 1.35% Croda International (CRDA) 6,714.00p 1.21% Smurfit Kappa Group (SKG) 3,762.00p 1.07%

FTSE 100 - Fallers

Compass Group (CPG) 1,458.00p -2.54% Informa (INF) 515.00p -2.46% JD Sports Fashion (JD.) 825.20p -2.37% M&G (MNG) 192.45p -1.94% Associated British Foods (ABF) 2,304.00p -1.87% Taylor Wimpey (TW.) 165.35p -1.87% Kingfisher (KGF) 274.50p -1.82% Barratt Developments (BDEV) 690.60p -1.82% British American Tobacco (BATS) 2,740.50p -1.76% British Land Company (BLND) 465.50p -1.73%

FTSE 250 - Risers

Rank Group (RNK) 140.20p 6.53% Serco Group (SRP) 126.70p 5.85% TUI AG Reg Shs (DI) (TUI) 362.20p 4.68% Safestore Holdings (SAFE) 808.50p 3.59% Rotork (ROR) 359.80p 3.57% Cineworld Group (CINE) 85.20p 3.00% IP Group (IPO) 114.20p 2.88% Aston Martin Lagonda Global Holdings (AML) 2,178.00p 2.30% Hammerson (HMSO) 23.07p 1.85% Cranswick (CWK) 3,566.00p 1.71%

FTSE 250 - Fallers

Mitchells & Butlers (MAB) 323.50p -8.74% Dunelm Group (DNLM) 1,289.00p -8.45% SSP Group (SSPG) 305.20p -4.33% Redrow (RDW) 554.00p -2.38% Pets at Home Group (PETS) 417.00p -2.34% Vistry Group (VTY) 881.00p -2.33% Carnival (CCL) 1,332.50p -2.24% WH Smith (SMWH) 1,701.00p -2.19% Wetherspoon (J.D.) (JDW) 1,261.00p -2.10% Ninety One (N91) 233.20p -2.02%
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
Continuing our Personal Service: View our Latest COVID-19 Update: 30th April 2021
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.