Ftse goes back in the midst of retail weakness and greater bond yields

The FTSE 100 lost ground on Wednesday when the recent positivity hesitated against the growing yields of the bonds.

The actions in the city were slightly higher at the beginning of trade, but deviated throughout the session.

Retail actions, such as Sainsbury's, were among notable faults, since industry data showed another jump in food inflation in recent weeks.

The upper London index ended at 0.59%, or 52.04 points, to close at 8,726.01.

In another part of Europe, optimism earlier this week after US commercial conversations seemed to be fading, and merchants seemed unfavorably due to lack of news about conversations.

CAC 40 ended 0.47% lower for the day and the Dax index fell 0.66%.

In the US, the main indices of Wall Street opened a higher touch but quickly lost the ground in the midst of weakness in the mortgage sector and caution before the key nvidia gain figures.

“This week's stock market rally is taking a respite ahead,” said Axel Rudolph, IG senior technical analyst.

“The rates of shares and the yields of the bonds lack direction ahead of the profits of the first quarter of Nvidia, stopping the promotions of this week.

“US mortgage requests are falling for the second consecutive week as fixed reference mortgage rates, at 30 years, continue to rise to their highest level in four months, near the 7%mark.”

Meanwhile, in currency, Sterling retreated after reaching a maximum of three months against the weak dollar on Tuesday.

The pound was 0.29% less than $ 1,346 and rose 0.06% to 1,192 euros when the London markets closed.

In the company's news, the Kingfisher home improvement giant was lower at the end of the negotiation despite an increase in sales.

The owner of B & Q said that the chain was driven by the demand for its garden and seasonal ranges in the United Kingdom due to the warm climate, although commercial challenges remained in their operations in France.

Kingfisher's shares finished 3.5% on Wednesday.

In other places, pets at home were in green since the growth in their veterinary arm continued to increase income and profits.

It helped the largest pet retailer in the United Kingdom to compensate for a “moderate” market for pet products this year as the conditions continue to “normalize” after a boom in the property of puppies and kittens during the Covid pandemic.

He saw that the shares moved 1.6% higher at the end of the game.

The Magners manufacturer and the Tennent C&C group moved 3.2% higher after progress in their response plan helped generate a recovery in profits.

C&C reported a group operational gain of 45.8 million euros (£ 38.5 million) for the year until February 28, recovering from a loss of 84.4 million euros (£ 70.9 million) the previous year.

The price of oil moved a higher touch during the session in the midst of augmented tensions in the Middle East.

A barrel of Brent crude oil was 1.8% higher at $ 63.71 (£ 47.30) as the markets closed in London.

The greatest elevators in the FTSE 100 were: effort mining, from 46p to 2,276p; Pershing Square, above 78p to 3,954p; Unite Group, up to 15p at 835p; Hikma Pharmaceuticals, above 36p to 2,148p; and polar capital Technology Trust, up to 5p to 331.5p.

The fallen of the FTSE 100 were: Kingfisher, less than 10.5PA 285.3p; Sainsbury's, below 9p to 284p; Lloyds, below 1.86PA 76.62P; American Anglo, below 51p to 2,184.5p; and Melrose Industries, dropped from 10p to 466.5p.

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