Global Markets*: Amid increased fears for a global slowdown, stocks in the United States were trending lower, with broader index S&P 500 declined by 15.74 points or 0.53% to 2,962.02, the Dow Jones Industrial Average Index shed 73.48 points or 0.27% to 26,762.03 and the technology benchmark index Nasdaq Composite index fell off by 47.70 points or 0.59% to 8,039.43, respectively.
Global News: As weak China’s economic data released today, pointed to softening growth in the world’s second largest economy, and fuelling fears for a global meltdown. Meanwhile, the US Federal Reserve and the European Central Bank (ECB) are highly expected to consider an interest rate cut over the next two weeks, however, investors are worried regarding the extent to which central banks’ measures will provide a support to an economic slowdown.
European Markets: The London’s broader equity benchmark index FTSE 100 traded at 32.14 points or 0.44% higher at 7,267.95, the FTSE 250 index snapped 60.41 points or 0.31% higher at 19,738.86, and the FTSE All-Share Index ended 16.33 points or 0.41% higher at 3,992.49 respectively. Another European equity benchmark index STOXX 600 ended at 386.44, up by 0.38 points or 0.10 per cent.
European News: John Bercow, a decade long Speaker of the House of Commons, has announced today that he is stepping down from his position and criticised Boris Johnson government for their attack on the British Parliamentary democracy. Meanwhile, pay growth in the UK hits 4% for the first time since financial crisis hits (2008), however hiring still slower – Officer for National Statistics (ONS).
London Stock Exchange (LSE)
Top Performers*: CAIRN ENERGY PLC (CNE), GALLIFORD TRY PLC (GFRD) and WOOD GROUP (JOHN) PLC (WG.) are top performers of the day and up by 11.05%, 8.37% and 8.24% respectively.
Worst Performers*: IP GROUP PLC (IPO), 888 HOLDINGS PLC (888) and JUST EAT PLC (JE.) are the top three laggards of the day and down by 10.07%, 8.23% and 7.24% respectively.
FTSE 100 Index
FTSE 100 Index Chart: 5-days Price Performance (as on September-10-2019), before the market closed. (Source: Thomson Reuters)
Performers*: JD SPORTS FASHION PLC (JD.), BARCLAYS PLC (BARC) and INTL CONSOLIDATED AIRLINES GROUP SA (IAG) are the top three gainers in today’s session and up by 7.05%, 5.83% and 5.79% respectively.
Laggards*: JUST EAT PLC (JE.), AVEVA GROUP PLC (AVV), and SAGE GROUP PLC (SGE) are top laggards at the FTSE 100 index and down by 6.74%, 5.30% and 4.82% respectively.
Active by Volume*: LLOYDS BANKING GROUP PLC (LLOY), BARCLAYS PLC (BARC), and MORRISON (WM.) SUPERMARKETS PLC (MRW).
Top Performing Sectors*: Financials (+1.61%), Energy (+1.25%) and Telecommunications Services (+0.33%).
Worst Performing Sectors*: Technology (-4.00%), Healthcare (-2.81%), and Industrial (-1.75%).
Foreign Exchange and Fixed Income
F.X. Rates (at the time of writing): GBP/USD and EUR/GBP were quoting at 1.2342 and 0.8945 respectively.
10-Year Bond Yields (at the time of writing): US 10Yr. Treasury and UK 10Yr. Bond yields were quoting at 1.692% and 0.639% respectively.
* At the time of writing