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Home >> Stock Forums >> Review of U.K Stocks

Review of U.K Stocks

exuberant said: "Review of U.K Stocks Aug 13th At the start of the second week in August, the European stocks posted their biggest gain in more than a year as after the central banks pumped cash into the money market to help buy financial shares. The Vodafone Group and BP Plc, the company which operates in three segments: Exploration and Production; Refining and Marketing; and Gas, Power, and Renewables had carried the FTSE 100 Index to its best. The Index had its best rally in almost four years for now. Both the companies have gained their best and the FTSE index went high. That day, the Dow Jones too went up. Aug 14th But on the second day of the week, the U.K stocks plunged down. As it was sudden, the experts at the stock market thought that next day would be fine. But on 15th too, the U.K stocks fell for the third day as the HSBC Holdings Bank and the Barclay’s; nation’s third-largest bank had a drop in their market value. The BHP Billiton Ltd, world’s largest company and Rio Tinto a multinational mining company both faced declined market value as the copper price lowered. That day the FTSE 100 index lost 0.9%. all the Financial stocks dropped across Europe as the UBS the world’s largest money manager and Deutsche Bank Germany’s Biggest bank had difficulties in Financial Markets. The drop continued on august 16th too. The U.K. stocks dropped, sending the FTSE 100 Index to its biggest decline since March 2003. Vodafone Group Plc fell, while BP Plc and Anglo American Plc sank with oil and metals prices. The benchmark FTSE 100 Index lost to almost 4.1 percent. Stocks around the world fell that day as there was a deepened concern that a global credit crunch that originated in the U.S. sub-prime mortgage market will sap earnings and erode economic growth. Vodafone, the world's largest mobile-phone company lost 5.1 percent that day. On the following day, i.e, on 17th of August, the U.K Stocks climbed up to an all-time new high. They had their biggest rally in 4 1/2 years after the United States Federal Reserve unexpectedly cut its discount rate. As the discount rate was cut, the shares of banks including the HSBC Holding went up. Copper which was maintaining a low profile three days earlier, unexpectedly coped up and the value of copper was high, which made the mining companies take a sigh of relief."