FTSE 100 Stutters Into Close – Index Holds 8750 Level With Banks’ Support

London’s FTSE 100 index stuttered into the close today, falling by a marginal 0.04% to end at 8,755.84. Having begun the day trading up 0.8% in the early part of the session, the bulls faded through the day. The day was marked by significant movements in individual stocks, particularly Ocado, Games Workshop and Barclays.

Ocado shares (OCDO) ended the day up 8.27%, having bounced firmly off new 52 week lows set in the session at 226p.

WELCOME BONUS - Free Share Bundle When You Invest £50! Get up to £500 cashback for investing with IG.

Invest in 15,000+ shares and ETFs. Open an account now, invest at least £50, and you’ll get a free share bundle worth between £40 and £200. T&Cs apply.

5.0

Open Account Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Games Workshop announced an uplifting guidance for the full year, with it’s share price added 2.98% on the day. The company reported that its trading in January and February exceeded expectations, with noticeable strength in both its core operations and licensing activities.

UK listed banks performed strongly, with Barclays gaining 4.45%, Lloyds 3.33%, Natwest 2.44%, and HSBC 1.74%. Barclays experienced a boost following an upgrade from ‘neutral’ to ‘outperform’ by BNP Paribas Exane.

Conversely, some stocks did not fare as well. The broader utilities sector faced challenges, with National Grid (-3.95%) propping up the index.

Elsewhere in UK markets, Balfour Beatty (-3.86%) declined on a CEO transition, and Breedon Group (BREE) performed impressively, gaining 11% as the firm announced the acquisition of Missouri-based Lionmark Construction Companies for $238 million.