UK inflation hits six month high in January, pushed by higher fuel prices

  • Feb 19, 2020 GMT
  • Team Kalkine
UK inflation hits six month high in January, pushed by higher fuel prices

US Markets: Broader indices in the United States traded in green - particularly, the S&P 500 index traded 15.11 points or 0.45% higher at 3,385.40, Dow Jones Industrial Average Index increased by 84.70 points or 0.29% higher at 29,316.89, and the technology benchmark index Nasdaq Composite traded higher at 9,803.29, up by 70.55 points or 0.72% against its previous day close (at the time of writing, before the U.S market close at 10:00 AM ET).

US News: On 19th February 2020, Wall Street opened on a positive note as a stimulus from China promised growth and a slowdown of the spreading of the Coronavirus. Barrick Gold shares were up by 0.8 per cent, soaring at a three year high price, after an anticipation of the loosening of the monetary policy from the central banks globally. Plug Power share prices were up by 8.9 per cent, as the company saw some advantage from investor backing the alternative energy and fuels space. Tesla shares were up by 6.7 per cent, following the company received an upgrade from an analyst. Groupon shares were down by a significant 28.2 per cent to a new all-time low after it said it plans to stop selling and discontinue its merchandise business at the end of December 2020.

S&P 500 (SPX)

Top Performers*: Garmin Ltd, Diamondback Energy Inc, and Analog Devices Inc are top gainers and increased by 5.74%, 5.10% and 4.31% respectively.

Worst Performers*: Verisk Analytics Inc, Nextera Energy Inc, and Capri Holdings Ltd are the top three laggards and decreased by 3.40%, 1.99% and 1.95% respectively.

NASDAQ Composite (IXIC)

Top Performers*: Viveve Medical Inc, Enphase Energy Inc, and Shotspotter Inc are top gainers and increased by 44.85%, 33.81% and 28.67% respectively.

Worst Performers*: Groupon Inc, Genprex Inc, and Scientific Games Corp are the top three laggards and decreased by 34.75%, 20.41% and 15.65% respectively.

Top Performing Sectors*: Energy (up 4.45%), Consumer Cyclicals (up 0.74%), and Technology (up 0.56%).

Worst Performing Sectors*: Nil.

Dow Jones Industrial Average (DJI)

Top Performers*: Nike Inc, American Express Co, and Apple Inc are top gainers and increased by 0.93%, 0.73% and 0.68% respectively.

Worst Performers*: Walmart Inc, 3M Co, and Merck & Co Inc are top laggards and decreased by 0.28%, 0.21% and 0.21% respectively.

European Markets: The London’s broader equity benchmark index FTSE 100 traded at 75.01 points or 1.02% higher at 7,457.02, the FTSE 250 index snapped at 172.40 points or 0.80% higher at 21,850.86, and the FTSE All-Share Index ended 39.46 points or 0.96% higher at 4,158.30 respectively. Another European equity benchmark index STOXX 600 ended, up by 3.57 points or 0.83 per cent, at 433.90.

European News: In economic news, The Office of National Statistics of United Kingdom today came out with its latest Consumer Price Index (CPI), Consumer Prices Index including owner occupiers’ housing costs (CPIH) and owner-occupiers' housing costs (OOH) data for the month of January 2020. The Headline inflation for the month increased by 1.8 per cent, signifying a growth rate not seen since July of 2019. The measure is amongst a host of other significant economic indicators that have registered strong growth in the past two months. The measure is a sign of increase in demand forces in the country which will lead to a growth in gross output of the economy in coming periods.

In business news, the shares of Hargreaves Lansdown declined by over 3 percent in trading on London Stock Exchange today as its co-founder and largest investor Peter Hargreaves sold a significant portion of his holdings at a discount.

London Stock Exchange (LSE)

Top LSE Companies in the Gainers list*: INTU PROPERTIES PLC (INTU), HOCHSCHILD MINING PLC (HOC), and RENEWI PLC (RWI) zoomed up by 14.37%, 11.71% and 10.96% respectively.

Top LSE Companies traded in red zone*: RPS GROUP PLC (RPS), NMC HEALTH PLC (NMC) and DE LA RUE PLC (DLAR) were hammered by 14.09%, 7.89% and 5.13% respectively.

FTSE 100 Index Performance

FTSE-100 index 5-day performance – February 19th, 2020 (Source: Thomson Reuters)

Top FTSE 100 Companies traded in green zone*: FLUTTER ENTERTAINMENT PLC (FLTR), POLYMETAL INTERNATIONAL PLC (POLY), and SCOTTISH MORTGAGE INV TST PLC (SMT) surged by 2.92%, 2.79% and 2.51% respectively.

Top FTSE 100 Companies traded in red zone*: NMC HEALTH PLC (NMC), ROLLS-ROYCE HOLDINGS PLC (RR.), MEGGITT PLC (MGGT) were hammered by 6.99%, 2.28% and 0.79% respectively.

Shares traded with high volume*: LLOYDS GRP. (LLOY), HSBC HLDGS PLC (HSBA), and VODAFONE GRP. (VOD).

Sectors in the positive zone*: Utilities (Up 1.00%), Consumer Cyclicals (Up 0.88%) & Financials (up 0.86%)

Forex Rates*: GBP/USD and EUR/GBP were quoting at 1.2915 and 0.8358, respectively.

Bond Yields*: U.S 10-Year Treasuries yield was quoting at 1.564%, and the UK 10-Year Government Bond yield was trading at 0.597%, respectively.

 

*At the time of writing

   
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