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The Needle on Recent Gold Rush: NCM, NST

  • May 01, 2020 05:15 PM AEST
  • Team Kalkine
The Needle on Recent Gold Rush: NCM, NST

US Markets: Broader indices in the United States traded in green - particularly, the S&P 500 index traded 4.78 points or 0.15 per cent higher at 3,150.10, Dow Jones Industrial Average Index expanded by 13.22 points or 0.05 per cent higher at 25,903.40, and the technology benchmark index Nasdaq Composite traded higher at 10,408.79, up by 64.90 points or 0.63 per cent against the previous day close (at the time of writing, before the U.S market close at 11:50 AM ET).

US Market News: The Wall street opened in green on strong sentiments of economic recovery. The EIA released data which stated that the US crude oil inventory increased by 5.65 million barrels for the week ended 4 July 2020. Among the gaining stocks, National General surged by close to 64.6 percent after All State announced it would acquire National General for $4 billion in cash. Twitter was up by about 6.9 percent after the company listed job stating that it is building a subscription platform by the name Gryphon. Similarly, Biogen was up by about 4.9 percent after the company applied to the US FDA for the treatment of Alzheimer disease. Among the decliners, Levi Strauss shares plunged by close to 6.6 percent after the company guided lower business in the second half of the year. All State was down by close to 3.2 percent after the company announced it would buy National General. Likewise, Nokia’s shares were down by 3.6 percent after the reports that Samsung Electronics could replace Nokia as a key equipment supplier to the telecom company Verizon.

S&P 500 (SPX)

Top Performers*: TechnipFMC Plc (FTI), Kohls Corp (KSS), and Biogen Inc (BIIB) stocks jumped by 7.74 per cent, 6.60 per cent and 5.95 per cent, respectively.

Non Performers*: Mohawk Industries Inc (MHK), Mosaic Co (MOS) and Henry Schein Inc (HSIC) shares decreased by 3.96 per cent, 2.56 per cent and 2.55 per cent, respectively.

NASDAQ Composite (IXIC)

Top Performers*: Senmiao Technology Ltd (AIHS), National General Holdings (NGHC) and Urban Tea Inc (MYT) shares expanded by 119.37 per cent, 64.45 per cent and 35.29 per cent, respectively.

Worst Performers*: Ascena Retail Group Inc (ASNA), Vivus Inc (VVUS) and DAVIDsTEA Inc (DTEA) shares plunged by 30.62 per cent, 23.47 per cent and 21.96 per cent, respectively.

Top Performing Sectors*: Energy (+2.32 per cent), Basic Materials (+1.55 per cent) and Financials (+1.43 per cent).

Top Worst Sector*: Utilities (-0.12 per cent).

Dow Jones Industrial Average (DJI)

Top Performers*: Apple Inc (AAPL), Nike Inc (NKE) and Microsoft Inc (MSFT) shares zoomed up by around 1.92 per cent, 1.60 per cent and 1.53 per cent, respectively.

Worst Performers*: Walmart Inc (WMT), Coca-Cola Co (KO) and American Express Co (AXP) shares plunged by 0.65 per cent, 0.59 per cent and 0.48 per cent, respectively.

European Markets: The London’s broader equity benchmark index FTSE 100 traded at 33.74 points or 0.55 per cent lower at 6,156.16, the FTSE 250 index snapped at 164.80 points or 0.95 per cent lower at 17,185.24, and the FTSE All-Share Index ended 21.09 points or 0.62 per cent lower at 3,407.94, respectively. Another European index STOXX 600 ended down by 2.48 points or 0.67 per cent, at 366.48. Among other major European indices, DAX index closed the session at 12,494.81, down by 121.99 points or 0.97 per cent; CAC 40 index decreased by 62.60 points or 1.24 per cent and ended the trading session at 4,981.13.

European News: London and European markets slipped again as hopes for the swift economic rebound were dimmed by resurging Covid-19 cases. Meanwhile, the finance minister, Rishi Sunak has announced GBP 30 billion plan to head off job crisis by cutting taxes for homebuyers and hospitality sector. Among the gaining stock, Pennon Group PLC gained around 1.8 percent post disposal of Viridor business. Among the decliners, FirstGroup PLC tumbled nearly 17.5 percent after posting annual operating loss due to nosedived passenger volumes. Similarly, HSBC Holdings PLC shed around 3.1 percent as the ability of Hong Kong banks to buy dollars can be impacted after President Donald Trump’s advice to undermine the Hong Kong currency’s peg. Boohoo plunged over 14.5 percent over the supply chain allegation.

London Stock Exchange

Top Three Performers*: AMIGO HOLDINGS PLC (AMGO), PURETECH HEALTH PLC (PRTC) and FUNDING CIRCLE HOLDINGS PLC (FCH) accelerated significantly by 13.46 per cent, 9.02 per cent and 5.71 per cent, respectively.

Worst Performers*: FIRSTGROUP PLC (FGP), SQN ASSET FINANCE INCOME (SQN) and HALFORDS GROUP PLC (HFD) plunged by 19.32 per cent, 16.02 per cent and 10.66 per cent, respectively.

FTSE 100 Index Performance

3 months FTSE 100 Index Performance (July-08-2020), before the market close (Source: Refinitiv, Thomson Reuters)

Best Gainers*: ROLLS-ROYCE HOLDINGS PLC (LON: RR.), FRESNILLO PLC (LON: FRES) & PERSIMMON PLC (LON: PSN) leapt up by 3.32 per cent, 2.76 per cent and 2.49 per cent, respectively.

Non Performers*: WPP PLC (LON: WPP), MELROSE INDUSTRIES PLC (LON: MRO) and HSBC HOLDINGS PLC (LON: HSBA) traded in the red zone and decreased by 4.93 per cent, 3.66 per cent and 3.32 per cent, respectively.

Shares traded with decent volume*: (LLOY) LLOYDS BANKING GROUP PLC; (HSBA) HSBC HOLDINGS PLC; (BP.) BP PLC.

Top Sectors traded in the positive zone*: Basic Materials (+0.76 per cent), Utilities (+0.41 per cent), and Consumer Non-Cyclicals (+0.25 per cent).

Top Sectors traded in the negative zone*: Technology (-0.76 per cent), Industrials (-0.50 per cent), and Financials (-0.48 per cent).

Crude Oil Future Prices*: WTI crude oil (future) price was hovering at $40.88 per barrel & Brent future crude oil (future) price was trading at $43.27 per barrel.

Forex Rates*: GBP to USD and EUR to GBP were hovering at 1.2621 and 0.8983, respectively.

Bond Yields*: U.S 10-Year Treasury yield was tilting at 0.651 per cent, and the UK 10-Year Government Bond yield was hovering at 0.185 per cent, respectively.

*At the time of writing

Gold MTF non-AMP



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