The FTSE 100 closed down 0.5% at 7,190 on Thursday, its lowest since October 13th, pulled down by mining stocks, amid concerns over China's property sector, inflationary pressure and prospects of higher interest rates. At the same time, traders weighed a new batch of earnings reports. Barclays reported a record high Q3 YTD pre-tax profit of £6.9 billion, underpinned by a better than expected Q3 pre-tax profit of £2.0 billion. The group’s results reflected strong revenues from investment banking fees amid a surge in trading and advisory mandates. Also, Unilever beat Q3 sales forecasts with a 2.5% rise in turnover to £13.5 billion, driven by higher prices. The multinational also confirmed its 2021 profit guidance and warned that inflation could be higher in 2022.
Historically, the United Kingdom Stock Market Index (GB100) reached an all time high of 7903.50 in May of 2018. United Kingdom Stock Market Index (GB100) - data, forecasts, historical chart - was last updated on October of 2021.
The United Kingdom Stock Market Index (GB100) is expected to trade at 7065.22 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 6568.62 in 12 months time.