US Markets: Broader indices in the United States traded in red - particularly, the S&P 500 index traded 19.29 points or 0.61 per cent lower at 3,160.43, Dow Jones Industrial Average Index contracted by 258.11 points or 0.98 per cent lower at 26,028.92, and the technology benchmark index Nasdaq Composite traded lower at 10,402.56, down by 31.09 points or 0.30 per cent against the previous day close (at the time of writing, before the U.S market close at 2:40 PM ET).
US Market News: The US market opened mixed from the previous day close. As per the data released by the US Bureau of Labor Statistics, the number of job openings increased to 5.4 million in May from 5.0 million in April. Among the gaining stocks, Novavax surged by close to 27.7 percent after it received $1.6 billion government aid to develop a COVID-19 vaccine. Rollins was up by about 6.3 percent after the company stated low single-digit growth in the second quarter against streets view of negative growth. Similarly, Regeneron shares traded up by close to 3.6 percent after it signed a $450 million deal with the US government to supply antibody cocktail for COVID-19 vaccine. Among the decliners, United Airlines shares plunged by close to 5.3 percent after the airline red flags lower bookings and furlough following travel restrictions. Shake Shack was down by close to 4.5 percent after the company reported loss due to curfew and protests. Likewise, Moderna’s shares were down by 1.2 percent after the company had disputes with scientists over vaccine trials for COVID-19.
S&P 500 (SPX)
Top Performers*: Rollins Inc (ROL), Air Products and Chemicals Inc (APD), and Vertex Pharmaceuticals Inc (VRTX) stocks jumped by 5.19 per cent, 3.47 per cent and 1.75 per cent, respectively.
Non Performers*: United Airlines Holdings Inc (UAL), American Airlines Group Inc (AAL) and TechnipFMC Plc (FTI) shares decreased by 6.19 per cent, 4.69 per cent and 4.27 per cent, respectively.
NASDAQ Composite (IXIC)
Top Performers*: Corvus Pharmaceuticals Inc (CRVS), Endologix Inc (ELGX) and Fuel Tech Inc (FTEK) shares expanded by 93.43 per cent, 52.78 per cent and 45.06 per cent, respectively.
Worst Performers*: Evolus Inc (EOLS), CBAK Energy Technology Inc (CBAT) and Sino-Global Shipping America Ltd (SINO) shares plunged by 33.27 per cent, 27.07 per cent and 24.14 per cent, respectively.
Top Performing Sectors*: Technology (+0.38 per cent) and Healthcare (+0.08 per cent).
Top Worst Sectors*: Utilities (-0.97 per cent), Financials (-0.92 per cent) and Industrials (-0.82 per cent).
Dow Jones Industrial Average (DJI)
Top Performers*: Apple Inc (AAPL), Microsoft Corp (MSFT) and Visa Inc (V) shares zoomed up by around 0.68 per cent, 0.65 per cent and 0.44 per cent, respectively.
Worst Performers*: Boeing Co (BA), American Express Co (AXP) and Walgreens Boots Alliance Inc (WBA) shares plunged by 2.95 per cent, 2.30 per cent and 2.22 per cent, respectively.
European Markets: The London’s broader equity benchmark index FTSE 100 traded at 96.04 points or 1.53 per cent lower at 6,189.90, the FTSE 250 index snapped at 199.99 points or 1.14 per cent lower at 17,350.04, and the FTSE All-Share Index ended 50.17 points or 1.44 per cent lower at 3,429.03, respectively. Another European index STOXX 600 ended down by 2.25 points or 0.61 per cent, at 368.96. Among other major European indices, DAX index closed the session at 12,616.80, down by 116.65 points or 0.92 per cent; CAC 40 index decreased by 37.78 points or 0.74 per cent and ended the trading session at 5,043.73.
European News: London and European markets dipped as the resurgence of Covid-19 cases in the US weighed on market sentiments. Meanwhile, as per the Office for National Statistics, labour costs in the UK rose at fastest rate in the first three months of 2020 since 2006. The unit labour costs were up by 6.2 percent compared with the same period the previous year. Adjacently, British finance minister, Rishi Sunak has earmarked GBP 3 billion to enhance energy efficiency. Among the gaining stocks, Plus500 PLC jumped around 5.3 percent after nearly quadrupling first-half revenue. RockRose Energy PLC was up about 0.11 percent post agreeing to be bought by Viaro Energy for the transaction value of GBP 247.6 million. Among the declining stocks, Halfords Group PLC plunged over 6.1 percent as their underlying sales dropped around 6.5 percent. Similarly, Reach PLC tumbled around 13.5 percent after planning to shed 12 percent of the total workforce. Whitbread PLC fell close to 3.7 percent post reporting a 79 percent drop in first-quarter sales.
London Stock Exchange
Top Three Performers*: SIG PLC (SHI), DWF GROUP PLC (DWF) and PALACE CAPITAL PLC (PCA) accelerated significantly by 10.13 per cent, 6.79 per cent and 6.78 per cent, respectively.
Worst Performers*: MICRO FOCUS INTERNATIONAL (MCRO), REACH PLC (RCH) and HALFORDS GROUP PLC (HFD) plunged by 17.03 per cent, 13.74 per cent and 9.72 per cent, respectively.
FTSE 100 Index Performance
3 months FTSE 100 Index Performance (July-07-2020), before the market close (Source: Refinitiv, Thomson Reuters)
Best Gainers*: SMITHS GROUP PLC (LON: SMIN), GVC HOLDINGS PLC (LON: GVC) & COCA-COLA HBC AG (LON: CCH) leapt up by 2.79 per cent, 2.69 per cent and 1.09 per cent, respectively.
Non Performers*: WHITBREAD PLC (LON: WTB), INFORMA PLC (LON: INF) and BRITISH LAND COMPANY PLC (LON: BLND) traded in the red zone and decreased by 6.43 per cent, 4.00 per cent and 3.75 per cent, respectively.
Shares traded with decent volume*: (LLOY) LLOYDS BANKING GROUP PLC; (HSBA) HSBC HOLDINGS PLC; (MRO) MELROSE INDUSTRIES PLC.
Top Sectors traded in the negative zone*: Utilities (-1.94 per cent), Healthcare (-1.90 per cent), and Financials (-1.79 per cent).
Crude Oil Future Prices*: WTI crude oil (future) price was hovering at $40.47 per barrel & Brent future crude oil (future) price was trading at $42.95 per barrel.
Forex Rates*: GBP to USD and EUR to GBP were hovering at 1.2555 and 0.8990, respectively.
Bond Yields*: U.S 10-Year Treasury yield was tilting at 0.648 per cent, and the UK 10-Year Government Bond yield was hovering at 0.166 per cent, respectively.
*At the time of writing