FTSE 100 Extended Gains in the First Trading Session of September 2019

Global News*: The trading in the United States will be subdued as stock market in the United States were closed on Monday for Labour day holiday. In the latest escalation in the prolonged trade war, China began imposing new duties of 5% on American crude for the first time and the US started imposing 15% tariffs on a variety of Chinese goods on Sunday, as no solution to trade war that started more than a year ago seems to be in view. Even as President Donald Trump said both the countries would still meet for talks later this month, the Chinese Commerce Ministry said on Monday that it had filed a complaint against the United States at the World Trade Organization over its import duties, bringing the third lawsuit to challenge China-specific tariffs at the WTO.

European Markets*: The London’s broader equity benchmark index FTSE 100 traded at 74.76 points or 1.04% higher at 7,281.94, the FTSE 250 index snapped 87.92 points or 0.45% higher at 19,481.55, and the FTSE All-Share Index ended 36.79 points or 0.93% higher at 3,989.81 respectively. Another European equity benchmark index STOXX 600 ended at 380.69, up by 1.21 points or 0.32 per cent.

European News*: The administration of British Prime Minister Boris Johnson threatened Conservative lawmakers of expulsion if they voted against the government when the parliament on Tuesday resumes from its summer break, as an alliance of opposition lawmakers worked with rebels in the party to take control of parliament. As he feared a defeat in the parliament if legislation to force the government to postpone Brexit beyond the deadline is proposed, he summoned ministers to a meeting on Monday, leading to speculations that he was preparing to call an election. Due to the global downturn and deepening Brexit crisis, British manufacturing contracted in August at the fastest rate in seven years, as the IHS Markit/CIPS UK Manufacturing Purchasing Managers Index (PMI) fell to 47.4 last month.

London Stock Exchange (LSE)

Top Performers*: MEDICA GROUP PLC (MGP), INTERNATIONAL PERSONAL FINANCE PLC (IPF) and PETRA DIAMONDS LD (PDL) are top performers of the day and up by 10.21%, 9.29% and 7.91% respectively.

Worst Performers*: THOMAS COOK GROUP PLC (TCG), PROVIDENT FINANCIAL PLC (PFG) and METRO BANK PLC (MTRO) are the top three laggards of the day and down by 5.25%, 4.17% and 4.09% respectively.

FTSE 100 Index

FTSE 100 Index Chart: 5-days Price Performance (as on September-02-2019), before the market closed. (Source: Thomson Reuters)

Performers*: ASTRAZENECA PLC (AZN), EXPERIAN PLC (EXPN) and OCADO GROUP PLC (OCDO) are the top three gainers in today’s session and up by 3.48%, 3.14% and 2.90% respectively.

Laggards*: MICRO FOCUS INTERNATIONAL PLC (MCRO), ANTOFAGASTA PLC (ANTO), and MARKS & SPENCER GROUP PLC (MKS) are top laggards at the FTSE 100 index and down by 2.65%, 0.92% and 0.73% respectively.

Active by Volume*: LLOYDS BANKING GROUP PLC (LLOY), CENTRICA PLC (CNA), and VODAFONE GROUP PLC (VOD).

Top Performing Sectors*: Healthcare (+2.37%), Industry (+1.91%), and Consumer non-cyclicals (+1.67%).

Foreign Exchange and Fixed Income

FX Rates (at the time of writing): GBP/USD and EUR/GBP were trading at 1.2063 and 0.9093 respectively.

10-Year Bond Yields (at the time of writing): US 10Y Treasury and UK 10Y Bond yields were exchanging at 1.499% and 0.417% respectively.

* At the time of writing

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