FTSE 100 Competition Results week 11

Week_Eleven_Results.pdf

FTSE 100 opened the week at 7,871.91
FTSE 100 closed the week at 7,914.13
55 of the top 100 made gains this week. 

The FTSE was up on the week but only marginally after a fairly subdued five days on the markets. 

There was little excitement on Monday as shares remained largely unchanged. Some of the biggest financial institutions in London were among the worst performers on the day, with Abrdn, Barclays and Prudential at the bottom of the pack. Tesco, Ocado and others worked together to save the index from a drop.

Tuesday saw a boost amid a slow start to the week as London’s blue-chip shares index extended its gains for eight days in a row. The gains came after betting giants Entain and Flutter Entertainment enjoyed a jump in their share price. Entain reported a surge in punters placing bets and its good fortune rubbed off on competitor, Flutter Entertainment.

The upwards trend was reversed on Wednesday pushed lower by the influential natural resources sector.  BP joined Anglo American and Rio Tinto among others towards the bottom of the index.  Oil prices, measured by the international standard Brent crude, dropped by 1.6% to around 83.44 dollars.

In company news, shares in Just Eat Takeaway were largely unaffected despite the company saying it expected to do better than previously advised, despite seeing a 14% fall in orders in the first quarter of the year.

Shares in GSK were flat, also shrugging off the news that 750 of its workers had voted to strike after rejecting a 6% pay rise and a bonus. Unite said workers at six sites across the country would spread out their strikes in May.

Melrose shareholders received one new share in place of three old shares and the price per share has risen as a result.  However, the rise is only 2.44 times and not 3 times, so there has been an effective price drop.  Miss Marple, Ginny Pie, Liz P and Sarah Grieve were the only entrants affected.  It will be interesting to see if the share price recovers next week.

Fresh UK inflation figures prompted a flurry of experts to caution over a prolonged series of interest rate hikes and the week ended with heavy losses for the country’s biggest mining companies. Anglo American, Rio Tinto, Fresnillo, Antofagasta and Endeavour Mining - they were all bottom of the FTSE as the week closed.  The miners took a tumble as Chile’s president announced plans to nationalise lithium mines. The metal is a crucial component in the manufacture of EV batteries and demand has shot up.

Best performing shares this week were as follows:-
Entain plc +8.2%
Flutter Entertainment +6.9%
RS Group +6.0%
Smith & Nephew +5.6%
Tesco +4.0%
Experian plc +3.9%

Poorest performing shares this week were as follows:-
Rio Tinto -6.1%
Antofagasta -5.8%
Anglo American -4.6%
Fresnillo -3.2%
Barclays -2.9%
Scottish Mortgage -2.9%
GSK plc -2.9%

In our competition Tom P gained 8 places to 18th, Aileen & Robert gained 5 places to 28th. Sarah Grieve lost 12 places to 23rd and Comrie Colliery, who relies on mining shares, lost 7 places to 46th.

24 of our entrants currently have more than the £50,000 they started with. The top six remain the same six but Zona Paton has gone into first place but less than £900 ahead of last week’s leader, Mark Grant.

At the other end Jennifer Grieve is heading for the bottle of malt whisky prize but at £419 behind 50th placed Lynsey Spriddle, her deficit is the narrowest that it’s been all contest. 

There is now only one week’s trading left before we declare the winner and loser of our competition but as I think you probably already know anything can happen to upset the form.