US Markets: Broader indices in the United States traded in red - particularly, the S&P 500 index traded 27.73 points or 0.93 per cent lower at 2,943.88, Dow Jones Industrial Average Index contracted by 159.65 points or 0.65 per cent lower at 24,416.25, and the technology benchmark index Nasdaq Composite traded lower at 9,266.73, down by 109.05 points or 1.16 per cent against its previous day close (at the time of writing, before the U.S market close at 11:20 AM ET).
US News: Wall Street remained volatile after additional 2.438 million jobless claims last week, albeit the trajectory of applications has come down dramatically. Meanwhile, the rising tension between the US and China further tempered the market sentiments as the Senate passed a bill for delisting Chinese Companies from US exchanges. Among the gaining stocks, AstraZeneca jumped over 3.2 per cent as it receives over USD 1 billion from the US government, for developing potential COVID-19 vaccine. TJX Companies grew over 4.9 per cent with store reopening post lockdown. L Brands soared over 15.2 per cent despite reporting weak quarterly results. Macy’s rose over 3.4 per cent as it expects more stores to reopen by June. Similarly, BJ's Wholesale Club soared over 11.0 per cent post reporting better than expected quarterly results. On the flip side, Best Buy shed around 2.1 per cent, post reporting a 5.3 per cent decline in same-store sales in the first quarter. Likewise, Medtronic dipped over 2.3 per cent as their quarterly earnings fell short of expectations. Adjacently, Alibaba fell 1.9 per cent, following the senate bill for banning Chinese Companies from US exchanges.
S&P 500 (SPX)
Top Performers*: L Brands Inc, Ross Stores Inc, and TJX Companies Inc shares increased by 16.53 per cent, 7.95 per cent and 7.67 per cent, respectively.
Non Performers*: Boston Scientific Corp, Hormel Foods Corp and Newmont Corporation shares decreased by 5.03 per cent, 4.08 per cent and 3.12 per cent, respectively.
NASDAQ Composite (IXIC)
Top Performers*: Seneca Biopharma Inc, MYOS RENS Technology Inc and Surface Oncology Inc shares expanded by 110.54 per cent, 68.10 per cent and 42.01 per cent, respectively.
Worst Performers*: ShiftPixy Inc, Entera Bio Ltd and Akorn Inc shares plunged by 28.07 per cent, 27.37 per cent and 24.79 per cent, respectively.
Top Performing Sectors*: Industrials (+0.29 per cent), Telecommunications Services (+0.27 per cent), and Financials (+0.22 per cent).
Top Worst Sectors*: Basic Materials (-0.81 per cent), Healthcare (-0.56 per cent), and Consumer Non-Cyclicals (-0.26 per cent).
Dow Jones Industrial Average (DJI)
Top Performers*: Boeing Co, Travelers Companies Inc and Raytheon Technologies Corp shares climbed by around 5.84 per cent, 4.78 per cent and 3.18 per cent, respectively.
Non Performers*: Goldman Sachs Group Inc, Walt Disney Co and Procter & Gamble Co shares decreased by 0.61 per cent, 0.59 per cent and 0.52 per cent, respectively.
European Markets: The London’s broader equity benchmark index FTSE 100 traded at 51.91 points or 0.86 per cent lower at 6,015.25, the FTSE 250 index snapped at 18.48 points or 0.11 per cent higher at 16,385.96, and the FTSE All-Share Index ended 22.46 points or 0.67 per cent lower at 3,311.40, respectively. Another European index STOXX 600 ended down by 2.56 points or 0.75 per cent, at 340.26. Among other major European indices, DAX index closed the session at 11,065.93, down by 157.78 points or 1.41 per cent; CAC 40 index decreased by 51.53 points or 1.15 per cent and ended the trading session at 4,445.45.
European News: London and European markets retreated and plunged today as a dip in Japanese exports dampened the optimism of speedy recovery from Coronavirus-led recession. Meanwhile, the UK’s preliminary purchasing managers’ index rose to 28.9 in May from 13.8 in April, as per the data published by IHS Markit. Adjacently, Britain borrowed through government bond at a negative rate for the first time. Among the gaining stocks, EasyJet jumped over 4.6 per cent with the announcement of a gradual restart of flights. Aviva rose around 1.2 per cent post reporting decent trading in the first quarter. Dart Group surged over 16.1 per cent after placing shares to raise GBP 172 million. Among the decliners, Whitbread tumbled around 14.7 per cent post reporting a decline in annual profits. Similarly, Pets at Home shed over 12.8 per cent as they anticipate a steep decrease in first-half pre-tax profit than the previous year. Inchcape dropped around 4.3 per cent post reporting a slump in April revenue.
London Stock Exchange
Top Three Performers*: ENQUEST PLC (ENQ), LAMPRELL PLC (LAM) and ASA INTERNATIONAL GROUP PLC (ASAI) accelerated significantly by 21.57 per cent, 16.69 per cent and 12.59 per cent, respectively.
Worst Performers*: WHITBREAD PLC (WTB), PETS AT HOME GROUP PLC (PETS) and SIG PLC (SHI) plunged by 12.42 per cent, 9.40 per cent and 6.98 per cent, respectively.
FTSE 100 Index Performance
3 months FTSE 100 Index Performance (May-21-2020), before the market closed (Source: Refinitiv, Thomson Reuters)
Best Gainers*: ROLLS-ROYCE HOLDINGS PLC (RR.), INTERTEK GROUP PLC (ITRK) and OCADO GROUP PLC (OCDO) expanded by 6.76 per cent, 6.64 per cent and 4.83 per cent, respectively.
Non Performers*: WHITBREAD PLC (WTB), STANDARD CHARTERED PLC (STAN) and TESCO PLC (TSCO) traded in red zone and decreased by 12.52 per cent, 4.67 per cent and 3.29 per cent, respectively.
Active Three Stocks (traded with high volume)*:(LLOY) LLOYDS BANKING GROUP PLC; (BP) BP PLC; (CNA) CENTRICA PLC.
Top Sectors traded in the positive zone*: Telecommunications Services (+2.90 per cent), Consumer Cyclicals (+1.58 per cent), and Industrials (+1.01 per cent).
Top Sectors traded in the negative zone*: Financials (-0.79 per cent), Utilities (-0.67 per cent), and Energy (-0.28 per cent).
Crude Oil Prices*: WTI crude oil (future) price was tilting at $33.70 per barrel, and Brent future crude oil (future) price was nudging at $35.96 per barrel.
Forex Rates*: GBP to USD and EUR to GBP were hovering at 1.2236 and 0.8959, respectively.
Bond Yields*: U.S 10-Year Treasury yield was tilting at 0.670 per cent, and the UK 10-Year Government Bond yield was hovering at 0.173 per cent, respectively.
*At the time of writing
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