London's FTSE100 rose 0.7% to 7,188.3 on Monday, 6th September after hopes that the nonfarm payrolls will delay the Fed’s bond tapering. Goldman Sachs planned to float its Petershill Partners unit in London valued at over $5b. The index ended lower on Tuesday, weighed down by healthcare stocks and brokerages, while DS Smith jumped to the top of the index after an upbeat trading update. FTSE100 slipped for a second session on Wednesday, dragged by pharmaceutical and bank stocks, while Dunelm Group jumped to the top of the mid-cap index after posting upbeat annual results. Britain's export-heavy FTSE100 ended 1.0% lower on Thursday with its worst session in three weeks weighed by a strengthening pound, consumer staples and pharmaceuticals. The index ended higher on Friday but posted its worst weekly performance since mid-August as a COVID-19 surge and supply chain disruptions slowed the pace of domestic economic recovery.
FTSE100 began the next week on a positive footing with energy names leading the way higher as oil prices rallied. However, the index fell 0.5% on Tuesday with miners and banking stocks dropping 2.3% and 1.6%, respectively. Indexes across Europe ended in the red again on Wednesday, although the FTSE 100 avoided a major drop thanks to rising oil and commodity prices. The price of Brent crude oil rose three per cent to $75.84, helping to push BP and Shell close to the top of the FTSE 100. On Thursday, the blue-chip index rose 0.2%, snapping its two-day losing streak, led by gains in industrial services and travel & leisure stocks, up 1.4% and 2.8% respectively.
On Monday, 6th September, S&P500 fell 0.3% to reach 4,520.03. Match Group stock was up 13% in Tuesday’s premarket trading after its inclusion in the index. The index further lost 0.34% to 4,520.03, leaving the markets mixed at the close. On Wednesday, S&P500 fell 0.46% to 4,493.28, dropping for the fourth straight day. Investors remained cautious as they try to discern what’s next to happen with the delta variant, the economic reopening and the Federal Reserve. S&P500 marked a fourth straight loss on Thursday at 4,493. Investors sold health-care, consumer-staples and real-estate stocks, which were mostly trading in record territory until this holiday-abbreviated week's recent slump. U.S. equities were lower at the close on Friday, as losses in the Utilities, Technology and Healthcare sectors propelled shares lower. S&P500 declined 0.77% with top performers including TechnipFMC, Nov Inc and United Parcel Service and worst performers including Kroger Company, American Airlines and United Airlines Holdings.
S&P500 gained 0.23% at the close on Monday, as gains in the Oil & Gas, Financials and Telecoms sectors propelled shares higher while losses in the Healthcare, Utilities and Industrials sectors led shares lower. On Tuesday, the index rebounded and ticked up 0.8% to 4,480.70. Economic news suggested that S&P500 would reach 4,700 by the end of this year and surpass 5,000 next year on better-than-expected earnings. The index climbed 0.85% on Wednesday, as a rally in energy, basic materials and industrials helped the broader market recover some of its recent losses. U.S. stock markets opened mixed on Thursday, 16th September, unimpressed by a surprise increase in retail sales in August and the lack of any further improvement in the trend for jobless claims. Despite this putting S&P500 under pressure, it moved off session lows and eventually fell by 0.2% on Thursday.
Written By: Sanjana Panicker
Edited By: Kabir Chadha