EWU rose by 0.06%
The iShares MSCI United Kingdom ETF (EWU) advanced with a return of 0.06% while the Direxion Daily S&P 500 Bull 1.25X ETF (LLSP) fell by 1.16% on September 24, 2015. The United Kingdom’s stock market experienced volatility due to weak manufacturing data from China. Only 25 stocks out of EWU’s 109 constituent stocks advanced on the day. The following graph shows the stock movement of EWU and LLSP.
Randgold and Fresnillo advanced due to the rise in precious metals
The commodities were at their lows on September 24. They were adversely affecting the mining stocks. However, the precious metals rose on the day. This rise benefited Randgold Resources (RRS) and Fresnillo (FRES). The stocks were among EWU’s top three performers. The stocks rose 5.51% and 3.41% on September 24.
The banking industry was also hurt on September 24. The only exceptions were Lloyds Banking Group (LYG), The Royal Bank of Scotland Group (RBS), and Barclays (BCS). They rose 2.46%, 0.42%, and 0.46% on September 24. Lloyds Banking Group announced the launch of a two-year program on skill development. It’s required for the bank’s digital development in the finance sector. This would help the bank in its digital transformation.
The other stock joining Randgold and Fresnillo in EWU’s top three performers on September 24 is Tate & Lyle (TATE). It rose 3.26%. The stock was upgraded from a “hold” rating to a “buy” rating by the Liberium Capital on Thursday, September 24. It was well received by the market. The stock traded above its 100-day, 50-day, and 20-day moving averages. This points to an uptrend in the stock movement. The stock has six “buy” recommendations, nine “hold” recommendations, and two “sell” recommendations.
The stocks at the bottom on September 24 were the mining and energy stocks—Glencore (GLEN) and Tullow Oil (TLW). The stocks yielded -9.62% and -5.62%, respectively. The manufacturing conglomerate Smiths Group (SMIN) also fell by 6.16%.
Overall the United Kingdom’s stock market isn’t predictable. For more details on precious metals’ economics, read Gold Investments and Economic Indicators.