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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

FTSE 100 Sees Modest Gains With Energy And Retail Stocks

London’s FTSE 100 rose by 0.3% on October 3, 2024, driven by gains in energy shares and an unexpectedly optimistic profit forecast from Tesco.

Ftse 100 Source: Finimize

What Does This Mean?

  • Tesco’s Impact:

Tesco’s stock jumped 1.6% after the retailer revised its annual profit outlook upwards, thanks to a 10% increase in first-half core profit and a stronger market share. This positive performance from Tesco buoyed the FTSE 100, also reflecting strength in the retail sector, as the personal care, drug, and grocery store index gained 0.6%.

  • Energy Sector Gains:

Energy stocks advanced 0.6%, extending their winning streak to a fifth day, as rising crude prices were driven by concerns over potential supply disruptions in the Middle East.

  • Stocks Falling Behind:

On the downside, Phoenix Group and Hargreaves Lansdown dropped 5.6% and 2.7% respectively, both trading ex-dividend.

  • Monetary Policy Speculation:

There’s ongoing talk about potential monetary easing, with the Bank of England’s (BoE) Governor suggesting faster interest rate cuts might be on the table if inflation continues to decelerate.

Why Should I Care?

For Markets: A Lift from Retail and Oil

The FTSE’s gains underscore the market’s resilience, with support from both the retail and energy sectors. Investors should closely monitor the implications of rising oil prices amid geopolitical tensions, as they could influence future market dynamics. Positive signals from UK retail, as reflected in Tesco’s performance, suggest potential opportunities for investors tracking mid-cap stocks, shown in the FTSE 250’s 0.2% rise.

The Bigger Picture: Monetary Moves in the Mix

With improving UK inflation data, the BoE is hinting at quicker rate cuts, which could reshape the borrowing and investment landscape. In parallel, the US is closely watching labor market indicators, such as jobless claims and payroll figures, adding another layer of complexity to global economic strategies and market forecasts.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

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