Market Remains Flat as Investors Await Trump-Xi Meeting Outcome

Global Markets: Shares in the United States were trading in green zone, with the broader benchmark index S&P 500 increased by 4.81 points or 0.16% to 2,922.19, the Dow Jones Industrial Average Index rose by 42.23 points or 0.16% and quoting at 26,590.45 and the technology benchmark index Nasdaq Composite Index trading higher by 49.03 points or 0.62% and trading at 7,933.74, at the time of writing.

Global News: US President Donald Trump, who will meet with Xi at the G20 summit in Japan this weekend, appeared optimistic about the prospect for a truce between the two countries and said that it is possible that the two leaders would strike a deal that would keep him from imposing tariffs on China. As investors hoped for progress in trade talks, reduced safe-haven demand for bonds caused Treasury yields to rise. New orders for key US-made capital goods rose by 0.4% in May, while goods trade deficit surged by 5.1% during the month.

European Markets: The London’s broader equity benchmark index FTSE 100 traded at 6.04 points or 0.08% lower at 7,416.39, the FTSE 250 index snapped 26.12 points or 0.14% lower at 19,260.39, and the FTSE All-Share Index ended 3.78 points or 0.09% lower at 4,046.05 respectively. European benchmark index STOXX 600 ended 1.20 points or 0.31% lower at 382.20 respectively.

European News: Foreign minister Jeremy Hunt stepped up his criticism of rival Boris Johnson, the frontrunner to become prime minister who has promised to deliver Brexit at the end of October. He said Johnson could destroy Brexit and the government, which could lead to an early general election. If the next prime minister makes exiting the EU without a transition agreement with his preferred policy, the Central Bank governor Mark Carney said the bank would only downgrade its economic forecasts to reflect the risk.

London Stock Exchange (LSE)

Top Performers Stocks: NANOCO GROUP PLC (NANO), PETROFAC LD (PFC), and SAGA PLC (SAGA) surged by 23.61 per cent, 14.86 per cent and 6.96 per cent respectively.

Top Laggards Stocks: RPS GROUP PL (RPS), FUNDING CIRCLE HOLDINGS PLC (FCH), and KIER GROUP PLC (KIE) decreased by 35.09 per cent, 9.18 per cent and 6.24 per cent respectively.

FTSE 100 Index

FTSE100 Index: 5-days Price Chart as on June 26, 2019. (Source: Thomson Reuters)

Top Risers Stocks: EVRAZ PLC (EVR), INTL CONSOLIDATED AIRLINES GROUP SA (IAG) and CARNIVAL PLC (CCL) rose by 3.97 per cent, 2.25 per cent and 1.85 per cent respectively.

Top Fallers Stocks: ROLLS-ROYCE HOLDINGS PLC (RR.), MICRO FOCUS INTERNATIONAL PLC (MCRO) and FRESNILLO PLC (FRES) reduced by 2.75 per cent, 2.05 per cent and 2.04 per cent respectively.

Top Active Volume Leaders: LLOYDS BANKING GROUP PLC, VODAFONE GROUP PLC, and BARCLAYS PLC.

Top Risers Sectors: Telecommunications Services (+0.90%), Basic Materials (+0.82%) and Energy (+0.56%).

Top Fallers Sectors: Healthcare (-1.16%), Utilities (-0.98%) and Consumer Non-Cyclicals (-0.70%).

Foreign Exchange and Fixed Income

FX Rates*: GBP/USD and EUR/GBP were exchanging at 1.2696 and 0.8958 respectively.

10-Year Bond Yields*: US 10Y Treasury and UK 10Y Bond yields were trading at 2.043% and 0.834% respectively.

*At the time of writing