Share Prices & Company Research

Market News

29 Mar 2021 | 11:03

London midday: Stocks little changed as investors brush off Archegos fire sale

(Sharecast News) - London stocks were still little changed by midday on Monday as investors took a fire sale by hedge fund Archegos Capital in their stride. The FTSE 100 was steady at 6,738.82.

Japanese bank Nomura and Credit Suisse were both sharply lower as they warned of big losses after Archegos Capital defaulted on margin calls. However, sentiment more broadly was holding up fairly well.

Neil Wilson, chief market analyst at Markets.com, said: "Despite the stress this is causing among banking stocks, there is no sign of contagion in broader markets, with the DAX hitting a fresh all-time high this morning."

Wilson said investors will be watching this week for more details about US President Joe Biden's $3tn investment plan on Wednesday.

In equity markets, Renishaw was sitting pretty at the top of the FTSE 100 after Bloomberg reported late on Friday that the engineer, which has put itself up for sale, is attracting initial interest from Swedish rival Hexagon AB and US medical equipment maker Danaher.

Financial services platform AJ Bell rose after it lifted full-year revenue guidance as it continued to see rising customer numbers in the first half. The company said it expected revenue for the 12 months to September 30 to be at least £6m higher than its own compiled forecasts of £136m.

In broker note action, BT Group rallied after an upgrade to 'overweight' at Morgan Stanley, while housebuilder Barratt Developments was knocked lower by a downgrade to 'neutral' at JPMorgan.

Market Movers

FTSE 100 (UKX) 6,738.82 -0.03% FTSE 250 (MCX) 21,502.93 0.08% techMARK (TASX) 4,231.10 0.13%

FTSE 100 - Risers

Renishaw (RSW) 6,340.00p 5.67% BT Group (BT.A) 151.05p 2.03% Reckitt Benckiser Group (RB.) 6,472.00p 1.57% Severn Trent (SVT) 2,328.00p 1.26% Taylor Wimpey (TW.) 182.30p 1.22% Ferguson (FERG) 8,886.00p 1.14% United Utilities Group (UU.) 917.60p 1.12% Rentokil Initial (RTO) 492.50p 1.09% Hargreaves Lansdown (HL.) 1,538.00p 0.95% Evraz (EVR) 562.00p 0.93%

FTSE 100 - Fallers

Smiths Group (SMIN) 1,517.00p -2.76% Entain (ENT) 1,518.00p -2.35% Flutter Entertainment (CDI) (FLTR) 16,105.00p -2.28% Rightmove (RMV) 583.60p -1.92% Avast (AVST) 457.40p -1.85% Vodafone Group (VOD) 132.92p -1.82% Halma (HLMA) 2,343.00p -1.80% International Consolidated Airlines Group SA (CDI) (IAG) 192.90p -1.76% Persimmon (PSN) 2,969.00p -1.72% London Stock Exchange Group (LSEG) 6,996.00p -1.58%

FTSE 250 - Risers

Cineworld Group (CINE) 106.50p 3.45% Helios Towers (HTWS) 164.00p 3.14% Watches of Switzerland Group (WOSG) 682.00p 3.02% Elementis (ELM) 126.40p 2.93% Chemring Group (CHG) 269.50p 2.67% Micro Focus International (MCRO) 539.20p 2.63% Crest Nicholson Holdings (CRST) 412.00p 2.54% CMC Markets (CMCX) 478.00p 2.47% Hammerson (HMSO) 33.75p 2.46% Savills (SVS) 1,152.00p 2.22%

FTSE 250 - Fallers

Wood Group (John) (WG.) 278.70p -3.80% Trainline (TRN) 453.60p -3.37% Energean (ENOG) 854.60p -2.75% ITV (ITV) 124.75p -2.20% Hochschild Mining (HOC) 199.30p -2.11% Mitchells & Butlers (MAB) 317.50p -2.01% Capita (CPI) 42.40p -1.90% Drax Group (DRX) 442.60p -1.86% Provident Financial (PFG) 211.00p -1.86% FirstGroup (FGP) 90.65p -1.73%
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.