As Pound Rises, FTSE-100 Index Ends Winning Streak; Gold Hits 10-Day High As Virus Fears Persist

US Markets: Broader indices in the United States traded in red – particularly, the S&P 500 index traded 12.20 points or 0.36% lower at 3,367.25, Dow Jones Industrial Average Index declined by 144.21 points or 0.49% lower at 29,407.21, and the technology benchmark index Nasdaq Composite traded lower at 9,687.88, down by 38.08 points or 0.39% against its previous day close (at the time of writing, before the U.S market close at 10:20 AM ET).

US News: Coronavirus fears peak again as deaths and infection cases increased in China. As per the statement released, China confirmed 254 more deaths from the disease and 15,152 new cases registered. In Thursday’s trading session, selling pressure was seen across the board on Wall Street, though bulk of the losses were clawed back. Airline stocks took a major hit as investors were worried due to the risk suffered by global travellers from virus. United Airlines and American Airlines shares dropped by around 1 per cent each during the trading session. Cisco Systems shares dipped by around 2 per cent amid gloomy outlook stated on revenue front, despite better than expected earnings were reported. MGM Resorts shares plunged by around 5 per cent after the group stated bleak 2020 outlook amid rising fears of coronavirus. Also, the company reported that Jim Murren – Chief Executive would step down. During the trading session, shares of Tesla zoomed up by around 2 per cent, despite equity fund raising plans of $2 billion were released by the group. 

S&P 500 (SPX)

Top Performers*: Incyte Corp, Applied Materials Inc, and Fidelity National Information Services are top gainers and increased by 2.47%, 1.44% and 1.30% respectively.

Worst Performers*: NetApp Inc, Zebra Technologies Corp, and Cisco Systems Inc are the top three laggards and decreased by 11.38%, 7.93% and 5.47% respectively.

NASDAQ Composite (IXIC)

Top Performers*: CounterPath Corp, Scworx Corp, and Seanergy Maritime Holdings Corp are top gainers and increased by 45.58%, 28.16% and 27.33% respectively.

Worst Performers*: XBiotech Inc, Marchex Inc, and Neurobo Pharmaceuticals Inc are the top three laggards and decreased by 22.34%, 21.84% and 16.67% respectively.

Top Performing Sector*: Utilities (up 0.16%).

Worst Performing Sectors*: Energy (down 1.80%), Technology (down 0.88%) and Consumer Cyclicals (down 0.84%).

Dow Jones Industrial Average (DJI)

Top Performers*: Travelers Companies Inc, Verizon Communications Inc, and Coca-Cola Co are top gainers and increased by 0.15%, 0.07% and 0.03% respectively.

Worst Performers*: Cisco Systems Inc, Dow Inc, and Intel Corp are top laggards and decreased by 5.55%, 1.52% and 0.99% respectively.

European Markets: The London’s broader equity benchmark index FTSE 100 traded at 82.34 points or 1.09% lower at 7,452.03, the FTSE 250 index snapped at 119.58 points or 0.55% lower at 21,673.90, and the FTSE All-Share Index ended 41.15 points or 0.98% lower at 4,150.02 respectively. Another European equity benchmark index STOXX 600 ended down by 0.08 points or 0.02 per cent at 431.08.

European News:  In business news, BP has announced that it has set itself a target to make itself carbon neutral by year 2040. Bernard Looney (new CEO) stated that over a period of time, BP would invest more in low carbon businesses and to minimise exposure to oil and gas businesses. The group emits nearly 400 million tons of carbon dioxide per year from its Oil and gas business vertical.

London Stock Exchange (LSE)

Top LSE Stocks in the Gainers list*: BANK OF GEORGIA GROUP PLC (BGEO), TBC BANK GROUP PLC (TBC) and PETROPAVLOVSK PLC (POG) zoomed up by 6.57%, 6.14% and 6.06% respectively.

Top LSE Stocks traded in red zone*: INDIVIOR PLC (INDV), CENTRICA PLC (CNA) and INTU PROPERTIES PLC (INTU) were hammered by 24.84%, 17.98% and 8.53% respectively.

FTSE 100 Index Performance

 FTSE-100 index 5-day performance – February 13th, 2020 (Source: Thomson Reuters)

Top FTSE 100 Stocks traded in green zone*: COCA-COLA HBC AG (CCH), BERKELEY GROUP HOLDINGS (THE) PLC (BKG), and IMPERIAL BRANDS PLC (IMB) surged by 1.98%, 0.68% and 0.67% respectively.

Top FTSE 100 Stocks traded in red zone*: CENTRICA PLC (CNA), OCADO GROUP PLC (OCDO), ROLLS-ROYCE HOLDINGS PLC (RR.) were hammered by 17.98%, 4.46% and 4.12% respectively.

Shares traded with high volume*: CENTRICA PLC (CNA), LLOYDS GRP. (LLOY), and BARCLAYS PLC (BARC).

Sectors in the negative zone*: Energy (-2.83%), Utilities (-1.93%), and Healthcare (-1.44%).

Forex Rates*: GBP/USD and EUR/GBP were quoting at 1.3045 and 0.8310, respectively.

Bond Yields*: U.S 10-Year Treasuries yield was quoting at 1.610%, and the UK 10-Year Government Bond yield was trading at 0.646%, respectively. 

*At the time of writing