Insights On Global Markets On 11th October 2019

Global Markets: US stocks in the last trading session of this week were traded in green, with Dow Jones Industrial Average Index bagged 438.51 points or 1.65% to 26,935.18, the market-cap-weighted S&P 500 index surged 48.67 points or 1.66% to 2,986.80 and the Nasdaq Composite Index leapt up 152.07 points or 1.91% to 8,102.85, respectively (in the October 11, 2019 market session, before the market close at ET 2:05 PM).

Global News*: US Market indexes surged for the third consecutive trading session on Friday, as investors were hopeful that the trade talks between the United States and China will end a partial deal at the least, to de-escalate the current trade tensions between the two superpowers. In a reflection of this, technology companies, which had been hit the worst by the trade standoff, opened higher on Friday with Apple up 1.3 per cent while NVIDIA had gained 3.3 per cent. Slack had reportedly surged 5 per cent after it was reported that’s daily active users’ number was up by 37 per cent year on year in the month of September. Oil company prices reported to be up after news of an Iranian oil tanker being attacked were surfaced. Exxon Mobil was up 1 per cent along with Chevron, which was also reported to be up 1 per cent.

S&P 500 (SPX)*

Top Performers: Fastenal Co, W W Grainger Inc and Abiomed Inc are top gainers and increased by 15.73%, 6.41% and 5.51% respectively.

Worst Performers: Newmont Goldcorp Corp, WEC Energy Group Inc and Church & Dwight Co Inc are the top three laggards and decreased by 2.41%, 1.67% and 1.40% respectively.

NASDAQ Composite (IXIC)*

Top Performers: Synthesis Energy Systems Inc, Titan Pharmaceuticals Inc, and TMSR Holding Company Ltd are top gainers and increased by 97.77%, 52.79% and 25.88% respectively.

Worst Performers: Revolution Lighting Technologies Inc, ExOne Co and Summit Wireless Technologies Inc are the top three laggards and decreased by 15.28%, 13.38% and 13.17% respectively.

Top Performing Sectors: Industrials (up 2.20%), Technology (up 1.74%), and Healthcare (up 1.48%).

Worst Performing Sector: Utilities (down 0.28%).

Dow Jones Industrial Average (DJI)*

Top Performers: Dow Inc, Caterpillar Inc and Wallgreen Boots Alliance Inc are top gainers and increased by 3.94%, 3.71% and 2.85% respectively.

Worst Performers: Proctor & Gamble Co, and Coca-Cola Co are the top two laggards and decreased by 0.89%, and 0.37% respectively.

European Markets: The London’s broader equity benchmark index FTSE 100 traded at 60.72 points or 0.84% higher at 7,247.08, the FTSE 250 index snapped 805.99 points or 4.19% higher at 20,041.71, and the FTSE All-Share Index ended 53.83 points or 1.37% higher at 3,992.16 respectively. Another European equity benchmark index STOXX 600 ended at 391.61, up by 8.85 points or 2.31 per cent.

European News*: After Michel Barnier, EU chief Brexit negotiator, and Stephen Barclay, Brexit secretary, held what both sides called a constructive meeting in Brussels, the European Union gave the go-ahead on Friday to hold another round of intense and secret negotiations with London, as the British Prime Minister seemed to be conceding his hardline position over the Irish border. The EU Council President Donald Tusk said that he had seen signals that a new agreement could be reached between the two sides, as Irish Prime Minister Leo Varadkar claimed that a withdrawal treaty could be agreed before the end of the month. London market rose on the positive news, along with impressive gains in sterling.

London Stock Exchange*

Top Performers: ROYAL BANK OF SCOTLAND GROUP PLC (RBS), INTU PROPERTIES PLC (INTU) and CYBG PLC (CYBG) were top gainers and leapt up by 16.06%, 15.57% and 13.68% respectively.

Worst Performers: BRITISH AMERICAN TOBACCO PLC (BATS), DE LA RUE PLC (DLAR) and DIAGEO PLC (DGE) were the top three losers and dipped by 4.15%, 3.74% and 3.57% respectively.

FTSE 100 Index*

Price Performance in Last Five days (October-11-2019), before the market closed (Chart sourced from Thomson Reuters)

Top Gainers: ROYAL BANK OF SCOTLAND GROUP PLC (RBS), TAYLOR WIMPEY PLC (TW.) and LLOYDS BANKING GROUP PLC (LLOY) were top performers and edged up by 16.06%, 12.08% and 12.02% respectively.

Top Laggards: BRITISH AMERICAN TOBACCO PLC (BATS), DIAGEO PLC (DGE) and WPP PLC (WPP) were the worst performers and beaten down by 4.11%, 3.52% and 3.44% respectively.

Volume Leaders: (LLOY) LLOYDS BANKING GROUP PLC; (BARC) BARCLAYS PLC; (TSCO) TESCO PLC.

Top Performing Sectors: Financials (up 4.67%), Technology (up 3.52%), and Utilities (up 2.97%).

Worst Performing Sectors: Healthcare (down 2.42%), Consumer Non-Cyclicals (down 2.08%) and Healthcare (down 1.04%).

Forex Rates*: GBP/USD and EUR/GBP were quoting at 1.2658 and 0.8726, respectively.

Bond Yields*: U.S 10-Year Treasuries yield was quoting at 1.734%, and the UK 10-Year Government Bond yield was trading at 0.686%, respectively.

 

*At the time of writing