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Nov. 18, 2021, 10:33 a.m. EST

Royal Mail, Persimmon buck otherwise weak FTSE 100

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By Barbara Kollmeyer

The U.K.’s postal delivery service was outshining the FTSE 100 index on Thursday, after Royal Mail reported better-than-expected results, with home builders also rising, though energy companies were tugging at the downside as oil prices fell.

The FTSE 100 index /zigman2/quotes/210598409/delayed UK:UKX +1.67% dipped 0.2% to 7,629, losing around 1% for the week so far, which would be its worst week since mid-September. Weakness for the main index has come as the pound has gained around 0.5%, after stronger-than-expected inflation and jobs data have bolstered expectations for a U.K. interest rate increase next month.

Many U.K. multinationals earning revenue overseas, so a strong pound works against them.

Royal Mail /zigman2/quotes/204213037/delayed UK:RMG +5.26% shares climbed 9% after the postal carrier reported a rise in pretax profit for the first half of fiscal 2022 and said that it is launching a share buyback program, and analysts said its turnaround program was gaining getting traction,” said AJ Bell investment director Russ Mould.

“With large parts of the world having become more accustomed to buying goods online since the start of the pandemic, it’s fair to say 2021 will be the second ‘digital Christmas’ in a row. It’s so much easier to order goods online than venture to the high street and the system requires companies like Royal Mail to help deliver these items to the customer’s doorstep,” said AJ Bell investment director Russ Mould.

A number of home builder shares were on the rise Thursday also, with Persimmon /zigman2/quotes/206444744/delayed UK:PSN +1.23% , Berkeley Group /zigman2/quotes/202576163/delayed UK:BKG +0.97% , Barratt Developments /zigman2/quotes/209812640/delayed UK:BDEV +1.62% , Taylor Wimpey /zigman2/quotes/208623755/delayed UK:TW +0.28% and Land Securities /zigman2/quotes/207145631/delayed UK:LAND +2.78% all up 4% or more.

Energy companies were under pressure as oil prices /zigman2/quotes/209723049/delayed CL00 -1.12% remained sluggish. Royal Dutch Shell and BP /zigman2/quotes/202286639/delayed UK:BP +2.78% /zigman2/quotes/207305210/composite BP +2.65% were down 2% each.

/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,513.44
+123.46 +1.67%
Volume: 647,826
May 23, 2022 4:59p
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/zigman2/quotes/204213037/delayed
UK : U.K.: London
332.00 p
+16.60 +5.26%
Volume: 5.68M
May 23, 2022 4:35p
P/E Ratio
3.80
Dividend Yield
6.02%
Market Cap
£3.01 billion
Rev. per Employee
£74,589
loading...
/zigman2/quotes/206444744/delayed
UK : U.K.: London
2,146.00 p
+26.00 +1.23%
Volume: 589,952
May 23, 2022 4:35p
P/E Ratio
8.73
Dividend Yield
10.95%
Market Cap
£6.77 billion
Rev. per Employee
£694,861
loading...
/zigman2/quotes/202576163/delayed
UK : U.K.: London
4,162.00 p
+40.00 +0.97%
Volume: 102,999
May 23, 2022 4:35p
P/E Ratio
10.00
Dividend Yield
0.24%
Market Cap
£4.59 billion
Rev. per Employee
£934,196
loading...
/zigman2/quotes/209812640/delayed
UK : U.K.: London
496.80 p
+7.90 +1.62%
Volume: 1.94M
May 23, 2022 4:35p
P/E Ratio
7.76
Dividend Yield
6.66%
Market Cap
£4.99 billion
Rev. per Employee
£721,141
loading...
/zigman2/quotes/208623755/delayed
UK : U.K.: London
127.60 p
+0.35 +0.28%
Volume: 6.59M
May 23, 2022 4:35p
P/E Ratio
8.38
Dividend Yield
6.72%
Market Cap
£4.53 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/207145631/delayed
UK : U.K.: London
761.80 p
+20.60 +2.78%
Volume: 1.45M
May 23, 2022 4:35p
P/E Ratio
6.51
Dividend Yield
4.86%
Market Cap
£5.41 billion
Rev. per Employee
£1.26M
loading...
/zigman2/quotes/209723049/delayed
US : U.S.: Nymex
$ 109.05
-1.24 -1.12%
Volume: 21,252
May 24, 2022 2:05a
loading...
/zigman2/quotes/202286639/delayed
UK : U.K.: London
428.80 p
+11.60 +2.78%
Volume: 35.85M
May 23, 2022 4:35p
P/E Ratio
N/A
Dividend Yield
4.05%
Market Cap
£80.52 billion
Rev. per Employee
£1.92M
loading...
/zigman2/quotes/207305210/composite
US : U.S.: NYSE
$ 32.11
+0.83 +2.65%
Volume: 12.62M
May 23, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
4.02%
Market Cap
$100.39 billion
Rev. per Employee
$2.62M
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