Skip to content

FTSE 100 at the close: Glencore, Coca Cola HBC, Severn Trent


By Patrick Munnelly, Market Strategist, Tickmill

On Wednesday, the UK blue chip FTSE100 experienced an upward surge of 0.59%, primarily driven by a recovery in the mining sector.

The day saw a flurry of positive earnings reports, notably from Coca-Cola HBC, BP, and Glencore, contributing to the gains in the blue chip index.

FTSE 100 biggest movers

Beverage stocks exhibited a rise of 0.8%, with Coca-Cola HBC’s shares LON:CCH increasing by a little under 1% following the company’s upward revision of its annual revenue target.

Miners also enjoyed a climb of 0.8%, despite a series of less optimistic economic indicators emerging from China. This ascent was supported by a rise in metal prices, even against a backdrop of a weaker dollar. Among the mining entities,  Glencore LON:GLEN, a significant player in the industry, claimed a high position on the leaderboard with a robust day-on-day return of 2.2%.

The banking sector mirrored this positive trend, witnessing a rise of 0.8% in their stock values. This rebound comes after a previous decline of 1.5% in the preceding session. The improved global sentiment was attributed to Italy’s government adopting a more accommodating stance toward a new banking levy. Barclays LON:BARC, in particular, achieved a 1.3% gain during the trading session.

However, not all sectors fared equally well. British water companies, including Severn Trent LON:SVT and United Utilities LON:UU., faced declines of 3.5% and 2.2% respectively. These drops were precipitated by news that six British water companies are confronting lawsuits valued at over £800 million ($1 billion).

However, leading the negative side of the ledger and sitting at the bottom of the table is Hiscox LON:HSX whose shares experienced a notable decline of nearly 7% during morning trading in response to the company’s recent earnings announcement, eventually closing the session at -5.8%. The report revealed a pre-tax profit of $264.8 million for the first half of the year.

Podcast: Everything you need to know about the FTSE 100 Index

Subscribe to our podcast on your favourite platform

Don’t miss out on our weekly podcast. You can find us on SpotifySoundcloudAmazonAppleYouTube and many other popular platforms

Looking for great investing ideas? Sign up to our free newsletter.

This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

'How to' Guides

Our latest in-depth company reports

Detailed reviews of selected companies and investment trusts.

On the podcast

Sign up for great investing stock tips

Thanks to our Site Partners

Our partners are established, regulated businesses and we are grateful for their support.

CME Group
FP Markets
Back To Top