US & UK Market Performance In Wednesday’s Session

Global Markets: Equity benchmarks in the United States quoted in red as on Wednesday (November 06), with the price-weighted Dow Jones Industrial Average Index traded 10.33 points or 0.04% lower at 27,482.30, the market-cap-weighted the S&P 500 index was down by 0.18 points or 0.01% to 3,074.44 and the technology benchmark index the Nasdaq Composite Index slumped by 30.14 points or 0.36% to 8,404.54, respectively (before the U.S. market close at 2:45 PM ET).

Global News: On 6th November 2019, Stocks drifted on fears of trade tariffs deadlock as U.S. dollar retreated to its prices near late July. CVS Health stock was up 3.2 per cent after its earnings and revenue beat forecasts, due to strong results from its Aetna health insurance business and pharmacy benefit division. At the time of writing, the HP Inc share zoomed by 8.2 per cent on reports that Xerox (share leapt up by 4.90 per cent) is considering a US $27 billion takeover bid. Match Group stock contracted by 12.6 per cent as the management reported weak guidance for the fourth quarter, citing stronger competition. The Tinder app owner said it expects to incur a loss burden of about US $25 million in the fourth quarter (4th Quarter) due to long-term investments and legal costs. CenturyLink share tumbled by 4.1 per cent as network operator agreed to pay US $400,000 to settle Federal Communications Commission violations over a 911 service outage. Humana share accelerated by 3.1 per cent due to health insurer beat on its bottom and top line and raised its full-year forecast. Coty stock edged up by 4.3 per cent after its earnings came in slightly above forecasts, even as slower sales caused revenue to dip below expectations.

S&P 500 (SPX)

Top Performers: C H Robinson Worldwide Inc, Expedia Group Inc and Mylan NAV are top gainers and increased by 0.48%, 0.47% and 0.28% respectively.

Worst Performers: Skyworks Solutions Inc, Lam Research Corp, and Paccar Inc are the top three laggards and decreased by 0.61%, 0.54% and 0.28% respectively.

NASDAQ Composite (IXIC)

Top Performers: Diversified Restaurant Holdings Inc, FuelCell Energy Inc, and Constellation Pharmaceuticals Inc are top gainers and increased by 121.28%, 109% and 28.91% respectively.

Worst Performers: Fluidgm Corp, Supernus Pharmaceuticals Inc and Tiziana Life Sciences Plc are the top three laggards and decreased by 46.18%, 28.63% and 24.93% respectively.

Top Performing Sectors: Utilities (up 0.41%), Financials (up 0.29%), Basic Materials (up 0.26%) and Consumer Non-Cyclicals (up 0.11%).

Worst Performing Sectors: Healthcare (down 0.06%), Financials (down 0.11%) and Telecommunication services (down 0.17%).

Dow Jones Industrial Average (DJI)

Top Performers: Merck & Co Inc, McDonald’s Corp and Nike Inc are top gainers and increased by 0.90%, 0.67% and 0.57% respectively.

Worst Performers: Exxon Mobil Corp, Chevron Corp and Dow Inc are the top three laggards and decreased by 0.73%, 0.43%, and 0.37% respectively.

European Markets: The London’s broader equity benchmark index FTSE 100 traded at 8.57 points or 0.12% higher at 7,396.65, the FTSE 250 index snapped 78.40 points or 0.39% lower at 20,216.59, and the FTSE All-Share Index ended 1.55 points or 0.04% higher at 4,066.86 respectively. Another European equity benchmark index STOXX 600 ended at 405.07, up by 0.84 points or 0.21 per cent.

European News: On the first official day of the general election campaign, the Conservative Party had to face embarrassment as a doctored video of an opponent was released by his party, and the British Prime Minister Boris Johnson suffered a setback as his minister for Wales Alun Cairns resigned amid accusations of lying for an aide. The gauge of optimism for small and medium-sized manufacturers by the Confederation of British Industry fell from -28 in the three months to July to -32 in the three months to the end of October, suggesting that small British manufacturing firms are the most pessimistic since just after the Brexit referendum in 2016. As investors waited for new developments on US-China trade talks, the FTSE 100 remained flat on Wednesday after rallying nearly 2% over the past three sessions, while the pound was neutral as investors weighed domestic political scenarios.

London Stock Exchange*

Top Performers: TYMAN PLC (TYMN), XP POWER LD (XPP), and LSL PROPERTY SERVICES PLC (LSL) were top gainers and leapt up by 8.72%, 4.87% and 4.25% respectively.

Worst Performers: INTU PROPERTIES PLC (INTU), MEARS GROUP PLC (MER), and SAGA PLC (SAGA) were the top three laggards and dipped by 19.21%, 4.76% and 4.70% respectively.

FTSE 100 Index*

5 days share price performance (November-06-2019), before the market closed (Chart sourced from Thomson Reuters)

Top Gainers: IMPERIAL BRANDS PLC (IMB), BRITISH AMERICAN TOBACCO PLC (BATS) and UNILEVER PLC (ULVR) were top performers and accelerated by 2.61%, 1.99% and 1.70% respectively.

Top Laggards: BT GROUP PLC (BT.A), JD SPORTS FASHION PLC (JD.) and BRITISH LAND CO PLC (BLND) were the poor performers and tumbled by 4.69%, 2.98% and 1.99% respectively.

Volume Leaders: (LLOY) LLOYDS BANKING GROUP PLC; (VOD) VODAFONE GROUP PLC; (BT.A) BT GROUP PLC.

Best Performing Sectors: Consumer Non-Cyclicals (up by 1.34%), Technology (up 0.57%), and Industrials (up by 0.44%).

Worst Performing Sectors: Healthcare (down 0.76%), Telecommunications Services (down 0.45%), and Financials (down 0.42%).

Forex Rates*: GBP/USD and EUR/GBP were quoting at 1.2854 and 0.8612, respectively.

Bond Yields*: U.S 10-Year Treasuries yield was quoting at 1.814%, and the UK 10-Year Government Bond yield was trading at 0.707%, respectively.

 

*At the time of writing