The FTSE 100 index had a relatively mixed month in November. The index jumped to a monthly high of £7,400 in November. It then erased all the previous gains and fell to a low of £7,000. This happened as the UK published strong economic numbers, pushing many traders to believe that the Bank of England will move quicker than expected. In all, the index declined by more than 1% in November.
Auto Trader was the best performing FTSE 100 stock in November 2021. The stock jumped by more than 20% in November after the company announced strong results. Its revenue in six months soared by 82% to more than £215 million pounds. Its operating profit rose by 121% to more than £151 million.
The Royal Mail share price jumped by 18% in November, becoming the second-best performer. This happened after the company surprised the market by announcing a special dividend worth £400 million. The stock managed to pare back some of the previous losses.
The BT share price jumped by more than 17% in November. This happened as speculations about its acquisition rose. On Monday, there were rumours that India’s Reliance was considering making a bid for the company. The firm denied the claims. There is also speculation that Patrick Drahi will make a bid in December. He is the biggest shareholder in the company.
The other top performing stocks in the FTSE 100 were Intertek Group, Land Securities, and Sage Group.
The Darktrace share price crashed by more than 40% as investors remained concerned about the company’s growth. A report by a short-seller did not help things. The seller accused the company of exaggerating its income and having an inferior product than its competitors.
It was followed by Flutter Entertainment, whose share price crashed by more than 26%. Johnson Matthey share price dropped after the company formalized its battery failure. It gained reprieve this week after reports emerged that it was in talks with Tata about its battery products. It is also planning a major hydrogen factory. IAG share price also crashed by 18%. Other worse performers were Entain, Prudential, and Informa.
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