FTSE Rises On Positive Trade War News

Global Markets: US stocks pared losses of the previous trading session, with Dow Jones Industrial Average Index added 209.47 points or 0.80% to 26,373.51, the market-cap-weighted S&P 500 index surged 29.84 points or 1.03% to 2,922.90 and the Nasdaq Composite index bagged 90.19 points or 1.15% against the previous closing level and traded at 7,913.97 (at the time of writing as on October 09, 2019, at 02:40 PM ET).

Global News: On 9th October 2019, the Wall Street opened higher for the first time in three sessions, in anticipation of a limited trade deal between the United states and China. Johnson and Johnson fell by 2.1 per cent after a court ordering was made against the group, to pay US $8 billion in damages to a man in Maryland because one of its drugs had severe side effects on the man’s bodies. PayPal fell by 0.3 per cent after it announced an expectation to make losses worth US$177 million on tactical investments. American Outdoor Brands saw a massive increase of 7.3 per cent after an analyst upgraded its recommendation on the stock. Exxon Mobil also saw a surge of 0.9 per cent after news being reported that the company was considering selling its Malaysian upstream assets.

S&P 500 (SPX)

Top Performers*: Keysight Technologies Inc, Valero Energy Corp and Applied Materials Inc are top gainers and increased by 3.72%, 2.80% and 2.78% respectively.

Worst Performers*: Copart Inc, Netflix Inc and Interpublic Group of Companies Inc are the top three laggards and decreased by 1.91%, 1.58% and 1.58% respectively.

NASDAQ Composite (IXIC)

Top Performers*: Ritter Pharmaceuticals Inc, Ocugen Inc, and DarioHealth Corp are top gainers and increased by 27.31%, 23.44% and 22.22% respectively.

Worst Performers*: James River Group Holdings Ltd, Oxbridge Re Holdings Ltd and Provention Bio Inc are the top three laggards and decreased by 20.43%, 18.08% and 10.45% respectively.

Top Performing Sectors*: Technology (up 0.92%), Industrials (up 0.69%), and Consumer Cyclicals (up 0.59%).

Worst Performing Sectors*: Energy (down 0.12%).

Dow Jones Industrial Average (DJI)

Top Performers*:  Intel Corp, American Express Co and Microsoft Corp are top gainers and increased by 1.46%, 1.42% and 1.30% respectively.

Worst Performers*: Johnson & Johnson, Boeing Co and Verizon Communications Inc are the top three laggards and decreased by 1.45%, 0.12% and 0.08% respectively.

European Markets: The London’s broader equity benchmark index FTSE 100 traded at 23.35 points or 0.33% higher at 7,166.50, the FTSE 250 index snapped 29.30 points or 0.15% lower at 19,171.60, and the FTSE All-Share Index ended 8.80 points or 0.23% higher at 3,926.97 respectively. Another European equity benchmark index STOXX 600 ended at 380.30, up by 1.59 points or 0.42 per cent.

European News: Scottish highest court on Wednesday said that it would wait before ruling whether to force Prime Minister Boris Johnson to seek a delay and making a decision delayed on the case until 21 October, after anti-Brexit campaigners appealed the court to issue an order stating Johnson must abide by the Benn Act. The Federation of Master Builders reported that before going ahead with a major purchase, prospective homeowners are holding off buying over uncertainty due to Brexit, as demand for newly built houses in the country fell to a six-year low. After China offered partial trade deal to ease trade tensions with the US, the FTSE 100 index rose as hopes of a trade deal rose.

London Stock Exchange*

Top Performers: MCBRIDE PLC (MCB), SOCO INTERNATIONAL PLC (SIA) and GVC HOLDINGS PLC (GVC) were top gainers and leapt up by 13.33%, 6.50% and 5.15% respectively.

Worst Performers: TT ELECTRONICS PLC (TTG), MACAU PROPERTY OPP. FUND LD (MPO) and ROBERT WALTERS PLC (RWA) were the top three losers and dipped by 6.33%, 6.02% and 5.62% respectively.

FTSE 100 Index*

                                      

Price Performance in Last Five days (October-09-2019), before the market closed (Chart sourced from Thomson Reuters)

Top Gainers: LONDON STOCK EXCHANGE GROUP PLC (LSE), HARGREAVES LANSDOWN PLC (HL.) and ANGLO AMERICAN PLC (AAL) were top performers and edged up by 2.42%, 1.98% and 1.87% respectively.

Top Laggards: CENTRICA PLC (CNA), RIGHTMOVE PLC (RMV) and NEXT PLC (NXT) were the worst performers and beaten down by 3.06%, 2.45% and 2.18% respectively.

Volume Leaders: (LLOY) LLOYDS BANKING GROUP PLC; (GLEN) GLENCORE PLC; (BP.) BP PLC.

Top Performing Sectors: Telecommunications Services (up 0.55%), Healthcare (up 0.51%), and Financials (up 0.48%).

Worst Performing Sectors: Utilities (down 0.46%) and Technology (down 0.22%).

Forex Rates*: GBP/USD and EUR/GBP were quoting at 1.2212 and 0.8986, respectively.

Bond Yields*: U.S 10-Year Treasuries yield was quoting at 1.580%, and the UK 10-Year Government Bond yield was trading at 0.467%, respectively.

 

*At the time of writing