Transformational Shifts for Medical Devices Companies: Lens on RMD, FPH

US Markets: Broader indices in the United States traded in red - particularly, the S&P 500 index traded 43.16 points or 1.36 per cent lower at 3,126.78, Dow Jones Industrial Average Index contracted by 458.77 points or 1.76 per cent lower at 25,608.51, and the technology benchmark index Nasdaq Composite traded lower at 10,417.05, down by 75.45 points or 0.72 per cent against the previous day close (at the time of writing, before the U.S market close at 11:55 AM ET).

US Market News: The Wall street opened mixed as the US Department of Labor released weekly data in which jobless claims fell. The claims fell by 99,000 to 1.3 million for the week ended 4 July 2020. Among the gaining stocks, Costco was up by close to 2.1 percent after the company reported increased sales in June month year on year. Tesla was up by about 0.6 percent after CEO Elon Musk announced that the company is very close to level 5 autonomous technology. Similarly, Eldorado Resorts inched up by about 0.1 percent after the company received approval from regulators to merge business with Caesars. The deal is expected to be at USD 7.3 billion. Among the decliners, Bed Bath & Beyond shares plunged by close to 20.7 percent after the company announced that it would close 20 percent of its stores. Walgreens Boots Alliance was down by close to 8.5 percent after the company reported third-quarter earnings lower than the street’s consensus. Likewise, United Airline’s shares were down by 4.5 percent after the company red flag a mass layoff of the front-line staff.

S&P 500 (SPX)

Top Performers*: Noble Energy Inc (NBL), Pentair Plc (PNR), and F5 Networks Inc (FFIV) stocks jumped by 4.93 per cent, 4.36 per cent and 3.66 per cent, respectively.

Non Performers*: Mohawk Industries Inc (MHK), Walgreens Boots Alliance Inc (WBA) and PPL Corp (PPL) shares decreased by 11.31 per cent, 7.28 per cent and 4.32 per cent, respectively.

NASDAQ Composite (IXIC)

Top Performers*: Big 5 Sporting Goods Corp (BGFV), Senmiao Technology Ltd (AIHS) and Dolphin Entertainment Inc (DLPN) shares expanded by 60.94 per cent, 49.60 per cent and 35.51 per cent, respectively.

Worst Performers*: Bed Bath & Beyond Inc (BBBY), Hudson Capital Inc (HUSN) and China Finance Online Co Ltd (JRJC) shares plunged by 19.88 per cent, 16.08 per cent and 14.12 per cent, respectively.

Top Performing Sectors*: Technology (+0.66 per cent), Consumer Cyclicals (+0.65 per cent) and Energy (+0.25 per cent).

Top Worst Sector*: Utilities (-1.08 per cent), Consumer Non-Cyclicals (-0.99 per cent) and Financials (-0.84 per cent).

Dow Jones Industrial Average (DJI)

Top Performers*: Walmart Inc (WMT), Cisco Systems Inc (CSCO) and Microsoft Inc (MSFT) shares zoomed up by around 2.01 per cent, 1.64 per cent and 1.04 per cent, respectively.

Worst Performers*: Walgreens Boots Alliance Inc (WBA), Boeing Co (BA) and Raytheon Technologies Corp (RTX) shares plunged by 7.14 per cent, 1.80 per cent and 1.61 per cent, respectively.

European Markets: The London’s broader equity benchmark index FTSE 100 traded at 106.54 points or 1.73 per cent lower at 6,049.62, the FTSE 250 index snapped at 200.11 points or 1.16 per cent lower at 16,985.13, and the FTSE All-Share Index ended 54.87 points or 1.61 per cent lower at 3,353.07, respectively. Another European index STOXX 600 ended down by 2.84 points or 0.77 per cent, at 363.64. Among other major European indices, DAX index closed the session at 12,489.46, down by 5.35 points or 0.04 per cent; CAC 40 index decreased by 60.12 points or 1.21 per cent and ended the trading session at 4,921.01.

European News: London and European markets retreated over the fear of job loss. Meanwhile, The Institute for Fiscal Studies highlighted that the UK deficit could increase to £350 billion after the UK government’s latest package of £30 billion to deal with the job crisis. Among the gaining stock, Persimmon PLC gained around 6.3 percent after the company announced that it entered the second half of 2020 on a more positive note, the sales in June 2020 were up by 15 percent year on year. Among the decliners, Rolls-Royce PLC plunged nearly 9.4 percent after the company said it had burned £3 billion cash due to the pandemic in six months. Similarly, Workspace Group PLC shed around 1.4 percent after it reported lower customer enquiries in the first quarter. Rio Tinto PLC was down by around 0.1 percent as it announced to close smelter in New Zealand and lay off 1,000 people.

London Stock Exchange

Top Three Performers*: DWF GROUP PLC (DWF), BATM ADVANCED COMMUNICATION (BVC) and CALISEN PLC (CLSN) accelerated significantly by 17.13 per cent, 11.11 per cent and 6.60 per cent, respectively.

Worst Performers*: AMIGO HOLDINGS PLC (AMGO), HYVE GROUP PLC (HYVE) and ROLLS-ROYCE HOLDINGS PLC (RR.) plunged by 15.39 per cent, 10.78 per cent and 9.69 per cent, respectively.

FTSE 100 Index Performance

3 months FTSE 100 Index Performance (July-09-2020), before the market close (Source: Refinitiv, Thomson Reuters)

Best Gainers*: PERSIMMON PLC (LON:PSN), BERKELEY GROUP HOLDINGS (LON:BKG) & ANTOFAGASTA PLC (LON:ANTO) leapt up by 6.17 per cent, 3.73 per cent and 2.97 per cent, respectively.

Non Performers*: ROLLS-ROYCE HOLDINGS PLC (LON: RR.), NATIONAL GRID PLC (LON: NG.) and SSE PLC (LON:SSE) traded in the red zone and decreased by 9.80 per cent, 5.34 per cent and 4.29 per cent, respectively.

Shares traded with decent volume*: (LLOY) LLOYDS BANKING GROUP PLC; (BARC) BARCLAYS PLC; (BP.) BP PLC.

Top Sectors traded in the negative zone*: Utilities (-4.61 per cent), Energy (-3.01 per cent), and Industrials (-1.99 per cent).

Crude Oil Future Prices*: WTI crude oil (future) price was hovering at $39.47 per barrel & Brent future crude oil (future) price was trading at $42.25 per barrel.

Forex Rates*: GBP to USD and EUR to GBP were hovering at 1.2622 and 0.8950, respectively.

Bond Yields*: U.S 10-Year Treasury yield was tilting at 0.609 per cent, and the UK 10-Year Government Bond yield was hovering at 0.163 per cent, respectively.

*At the time of writing