Conor Campbell, financial analyst at Spreadex, said:
This was demonstrated on Wednesday by the FTSE 100 and again began changing sessions at 7,040. Investors may be cautiously waiting for more news about the so-called “Indian” tensions of Covid-19. What does that mean for the UK’s lockdown plan before moving any further?
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“The pound was equally unlife,” Campbell said, “we immersed 0.1% against the dollar, but increased the same amount against the euro.” That means cable, which temporarily exceeded $1.42 on Tuesday, has returned to $1.4144.
The eurozone was equally lethargic this Wednesday, with both DAX and CAC rising 0.1%, shortening 15,500 and 6,400 respectively.
“The Dow Jones is a bit lively, with futures pointing at 0.3% or 100 points after the bell. But even so, it only lifted an index above 34,400, the level that began on Tuesday.” Campbell said.
FTSE 100 Top Mover
Croda International (2.82%), Flutter Entertainment (1.81%) and Entain (1.68%) saw the biggest rise in the UK index in just hours trading on Wednesday.
Intertek (-3.77%), UK land (-2.23%) and Rolls-Royce (-1.92%) make up the lower three waterfalls of the FTSE 100 today.
British land
UK land, one of the UK’s largest real estate development and investment companies, has seen its property value drop by £1 billion due to the coronavirus outbreak.
As high street and shopping centre outlook worsened, many businesses were forced to close, and FTSE 100 companies saw their portfolio falling more than 10% to £9.1 billion.
The UK land has confirmed its third annual loss in a row as its after-tax loss is £1.08 billion. A year ago, the company suffered a loss of £11 billion.
SSE
Scottish-based energy company SSE (LON:SSE) announced on Wednesday that its profits rose over the year as the company went ahead with plans to reach net zero carbon emissions.
The FTSE 100 company has adjusted pre-tax profits to £1.06 billion for the fiscal year ending March. This was an increase of 4% compared to the previous year.
SSE believes the total cost of the pandemic is £170 million, below initial expectations.
