Global Markets: Stocks in the United States traded in green as on Thursday (November 07), with the price-weighted Dow Jones Industrial Average Index traded 255.14 points or 0.93% higher at 27,747.70, the market-cap-weighted the S&P 500 index surged by 16.00 points or 0.52% to 3,092.77 and the technology benchmark index the Nasdaq Composite Index added 52.41 points or 0.62% to 8,463.04, respectively (before the U.S. market close at 2:20 PM).
Global News: On 7th November 2019, Wall Street opened in green in lieu of the news reports coming out that China’s Commerce Ministry is saying that a principle deal with the US on tariff cuts had been made. Apple Stock was up 0.04 per cent after its Digital Streaming service Apple TV+ made a debut on Friday with the US $2 billion worth of original content. Qualcomm stock also opened in the green by about 5.4 per cent after posting better than anticipated earnings. Nielsen, on Wednesday, announced its plans on demerging and becoming two separate publicly traded companies post which its stock gained 4 per cent. Expedia posted its earnings worse than predictions of the market, and in lieu of that, the stock has dipped by 13.3 per cent. Roku stock plunged by 15.4 per cent after reporting a larger loss as compared to the previous year. Norwegian Cruise Line also reported a dip in its earnings which lead to its stock falling by 1.8 per cent.
S&P 500 (SPX)
Top Performers: Ralph Lauren Corp, Huntington Ingalls Industries Inc and Dentsply Sirona Inc are top gainers and increased by 10.32%, 8.14% and 7.12% respectively.
Worst Performers: Expedia Group Inc, TripAdvisor Inc, and Booking Holdings Inc are the top three laggards and decreased by 17.19%, 14.69% and 4.56% respectively.
NASDAQ Composite (IXIC)
Top Performers: Titan Medical Inc, JAKKS Pacific Inc, and Bionano Genomics Inc are top gainers and increased by 47.46%, 45.90% and 42.38% respectively.
Worst Performers: Cool Holdings Inc, Top Ships Inc and Obseva SA are the top three laggards and decreased by 55.45%, 50.70% and 37.69% respectively.
Top Performing Sectors: Industrials (up 0.98%), Basic Materials (up 0.75%), and Financials (up 0.63%).
Worst Performing Sector: Utilities (down 0.50%).
Dow Jones Industrial Average (DJI)
Top Performers: Caterpillar Inc, Dow Inc and Walgreens Boots Alliance Inc are top gainers and increased by 1.51%, 1.44% and 1.41% respectively.
Worst Performers: Proctor & Gamble Co, Coca-Cola Co and Verizon Communications Inc are the top three laggards and decreased by 0.79%, 0.17%, and 0.13% respectively.
European Markets: The London’s broader equity benchmark index FTSE 100 traded at 9.76 points or 0.13% higher at 7,406.41, the FTSE 250 index snapped 216.63 points or 1.07% higher at 20,433.22, and the FTSE All-Share Index ended 11.97 points or 0.29% higher at 4,078.83 respectively. Another European equity benchmark index STOXX 600 ended at 406.56, up by 1.49 points or 0.37 per cent.
European News: In contrast to forecast by many economists for a unanimous decision, the Bank of England said its nine members voted 7-2 at their November meeting to keep Bank Rate at 0.75%, as two officials unexpectedly voted to lower interest rates for the first time in over 3 years amid more gloomy outlook on world economy and Brexit. As the election battle heated up, while Labour leader Jeremy Corbyn said he alone could offer real change, while Prime Minister Boris Johnson said, only he could deliver Brexit. In the latest sign that Brexit uncertainty is weighing on the housing market, British house prices inched up by 0.9% in October, falling to its slowest annual pace in six-and-a-half years in October, adding that growth will remain subdued amid political uncertainty.
London Stock Exchange*
Top Performers: WOOD GROUP (JOHN) PLC (WG.), ZOTEFOAMS PLC (ZTF), and BANK OF GEORGIA GROUP PLC (BGEO) were top gainers and leapt up by 9.35%, 9.17% and 9.17% respectively.
Worst Performers: HISCOX LD (HSX), SENIOR PLC (SNR), and LUCECO PLC (LUCE) were the top three laggards and dipped by 13.25%, 5.86% and 5.47% respectively.
FTSE 100 Index*
5 days share price performance (November-07-2019) before the market closed (Chart sourced from Thomson Reuters)
Top Gainers: RSA INSURANCE GROUP PLC (RSA), PERSIMMON PLC (PSN) and BURBERRY GROUP PLC (BRBY) were top performers and accelerated by 3.19%, 2.99% and 2.31% respectively.
Top Laggards: HISCOX LD (HSX), FRESNILLO PLC (FRES) and UNITED UTILITIES GROUP PLC (UU.) were the poor performers and tumbled by 13.61%, 1.79% and 1.76% respectively.
Volume Leaders: (LLOY) LLOYDS BANKING GROUP PLC; (VOD) VODAFONE GROUP PLC; (BARC) BARCLAYS PLC.
Best Performing Sectors: Telecommunications Services (up by 0.95%), Consumer Cyclicals (up 0.72%), and Technology (up by 0.61%).
Worst Performing Sector: Utilities (down 0.81%).
Forex Rates*: GBP/USD and EUR/GBP were quoting at 1.2824 and 0.8619, respectively.
Bond Yields*: U.S 10-Year Treasuries yield was quoting at 1.943%, and the UK 10-Year Government Bond yield was trading at 0.798%, respectively.
*At the time of writing