FTSE 100 latest: The six companies GROWING despite huge drop in stock index's value

FTSE 100 latest: The six companies GROWING despite huge drop in stock index's value

- in Business
73
0

The FTSE 100 was down as much as 4.5 percent, before settling closer to 4 percent at 5445.95 points at early trading today amid the coronavirus pandemic. It broke a two-day winning streak for the index, which has managed to regain some ground since dropping below 5,000 points last month.

The large drop came after lenders said they would suspend dividend payments in light of the COVID-19 crisis.

Banks led the FTSE’s drop after announcing they would not return money to shareholders this year and cancelling outstanding dividends from 2019.

Shares of Barclays, HSBC, Lloyds Banking Group, Royal Bank of Scotland and Standard Chartered all saw large drops between 5.3 percent and 9.7 percent.

BACK BRITAIN’S BRAVE NHS HEROES – CLICK HERE NOW 

FTSE 100

The FTSE has reached record lows in the wake of the coronavirus pandemic (Image: PA)

FTSE 100

The FTSE 100 fell sharply after opening this morning (Image: PA)

FTSE 100

The FTSE 100 was down as much as 4.5 percent (Image: PA)

At time of writing, British American Tobacco, Fresnillo, Hikma Pharmaceuticals, Morrison Supermarkets, Ocado Group, Royal Dutch Shell ‘A’ and Royal Dutch Shell ‘B’ have all seen growth.

However, in all bar one of the companies, growth remains slow with only a small increase in percentage increase in value.

The only stock to have seen a significant rise in price is Fresnillo.

DON’T MISS
Economic meltdown: Coronavirus strikes markets again [FIGURES]
FTSE 100 soars 9 percent after UK goes on lockdown [UPDATE]
Dow Jones plummets 3,000 points in worst performance since crisis [INSIGHT]

FTSE 100

The FTSE 100 slumped after Trump issued a warning over the coronavirus pandemic (Image: PA)

FTSE 100

The FTSE 100 dropped after lenders said they would suspend dividend payments in light of the COVID-19 crisis (Image: PA)

The company, which specialises in the mining of gold, has seen a 4.29 percent increase in price today.

Shares in London’s biggest companies were dragged lower today after banks slashed their dividends and the US warned hundreds of thousands of Americans might die in the pandemic.

Neil Wilson, chief market analyst at Markets.com, said: “A bit of a gloomy start to April, like a sharp frost killing off the buds that appeared too soon.”

ftse 100

Coronavirus symptoms to look out for (Image: EXPRESS)

His remarks came as the number of Americans with coronavirus who have died reached more than 4,000, with more than 40,000 thought to have died globally.

US President Donald Trump warned that between 100,000 and 240,000 Americans could die from the pandemic, which is gripping communities across the globe.

American markets closed down as a result, ending a dreadful quarter when the Dow Jones lost around a quarter of its value.

It had a knock-on effect on European markets on Wednesday.

Mr Wilson added: “Global stocks got off to a soggy start in April as economic damage wrought by the coronavirus was laid bare and investors felt there was not yet enough to show the virus was at or near its peak in Europe or the US.

“Donald Trump reflected the mood as he warned of weeks of pain still ahead, a stark change from his rather casual approach thus far.

“He also called for another two trillion dollars for infrastructure spending.”

Art Hogan, chief market strategist at National Securities in New York, added: “There is no easy way to quantify either the economic shutdown or what the eventual recovery is going to look like as the monetary and fiscal policy initiatives are as historic as the economic decline.”

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

You may also like

Inheritance Tax UK: The key ways Britons may be able to cut thousands from their IHT bill

INHERITANCE TAX is a bill which has to