FTSE Hovers Around 10-Month High

Global Markets: Bourses in the United States were hovering in positive zone, with the broader index S&P 500 has added 22.81 points or 0.77% in day’s session and quoting at 2,995.00, the Dow Jones Industrial Average Index nudged 179.32 points or 0.67% against the previous closing price and trading at 26,966.0 and the technology benchmark index Nasdaq Composite trading at 61.14 points or 0.75% in the day’s session and quoting at 8,170.23 respectively, at the time of writing.

Global News: After US Treasury notes hit their lowest since November 2016 on Wednesday, government bonds held near multi-year lows on Thursday as investors forecast interest rate cut this month. World stocks were pushed to new 18-month highs as investors predicted that other major central banks would follow the Fed and seek a looser monetary policy. Trump administration officials said on Wednesday that talks to try to resolve a year-long trade war was in the process of being scheduled for next week between top representatives of the United States and China.

European Markets: The London’s broader equity benchmark index FTSE 100 traded at 5.74 points or 0.07% lower at 7,603.58, the FTSE 250 index snapped 6.78 points or 0.03% higher at 19,797.61, and the FTSE All-Share Index ended 2.10 points or 0.05% lower at 4,147.97 respectively. European benchmark index STOXX 600 ended 0.36 points or 0.09% higher at 392.94 respectively.

European News: In a dramatic action that risks escalating tensions between the West and Iran, the British navy seized an oil tanker in Gibraltar on Thursday on the suspicion that it was violating EU sanctions against Syria. Even as finance minister warned the two candidates that their plans would exceed spending power of the budget, Boris Johnson and Jeremy Hunt proposed higher public spending and tax cuts, including increased spending on defence, pay rises and education. As investors suspect that the next move by the Bank of England will be to cut interest rates due to weak economic data and pressure from global economy, Sterling held near two-week lows on Thursday.

London Stock Exchange (LSE)

Top Performers Stocks: ENERGEAN OIL & GAS PLC (ENOG), MJ GLEESON PLC (GLE), and PLUS500 LTD (PLUS) surged by 13.56 per cent, 7.86 per cent and 7.21 per cent respectively.

Top Laggards Stocks COCA-COLA HBC AG (CCH), INTL CONSOLIDATED AIRLINES GROUP SA (IAG), and BROWN(N.) GROUP PLC (BWNG) decreased by 6.73 per cent, 6.00 per cent and 5.79 per cent respectively.

FTSE 100 Index

FTSE100 Index: 5-days Price Chart as on July 04, 2019. (Source: Thomson Reuters)

Top Risers Stocks: BURBERRY GROUP PLC (BRBY), CRH PLC (CRH) and CARNIVAL PLC (CCL) rose by 1.93 per cent, 1.80 per cent and 1.53 per cent respectively.

Top Fallers Stocks: COCA-COLA HBC AG (CCH), INTL CONSOLIDATED AIRLINES GROUP SA (IAG) and EVRAZ PLC (EVR) reduced by 6.73 per cent, 6.00 per cent and 2.89 per cent respectively.

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

Top Risers Sectors: Telecommunications Services (+0.77%), Financials (+0.37%) and Energy (+0.18%).

Top Fallers Sectors: Basic Materials (-1.02%), Industrials (-0.70%) and Technology (-0.70%).

Foreign Exchange and Fixed Income

FX Rates*: GBP/USD and EUR/GBP were exchanging at 1.2580 and 0.8970 respectively.

10-Year Bond Yields*: US 10Y Treasury and UK 10Y Bond yields were trading at 1.953% and 0.675% respectively.

 

*At the time of writing

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