US Markets: Major indices in the United States traded in red - particularly, the S&P 500 index traded 59.66 points or 1.93 per cent lower at 3,024.10, Dow Jones Industrial Average Index was down by 566.08 points or 2.20 per cent lower at 25,179.52, and the technology benchmark index Nasdaq Composite traded lower at 9,804.81, down by 212.19 points or 2.12 per cent against its previous day close (at the time of writing, before the U.S market close at 11:45 AM ET).
US Market News – The major Wall Street indices opened lower and were trading in red after the US Federal Reserve restricted the US banks from share buyback and capped the dividend payout. The shares which transcended were, Gap whose shares soared by about 32.09 per cent after it announced a partnership with rapper Kayne West to sell merchandise of his brand Yeezy in Gap stores. Synnex shares were up by close to 11.82 per cent after it reported better results than street’s expectation. The shares of Asta funding were up by about 15.72 per cent as the company announced the amendments in the merger agreement by increasing the merger consideration amount. The few shares which declined along the falling market were the shares of Luckin Coffee which nosedived by about 60.01 per cent after the Luckin announced that its shares would be de-listed from NASDAQ. American Airlines shares were down by close to 5.39 per cent after it announced that it would not restrict the numbers of seats sold in the airline starting 1st July. Microsoft shares were down by about 2.62 per cent; the company announced that it would close its retail stores and take a hit of USD 450 million of impairment in the current quarter.
S&P 500 (SPX)
Top Performers*: Gap Inc (GPS), NetApp Inc (NTAP), and Dollar Tree Inc (DLTR) stocks jumped by 37.20 per cent, 4.06 per cent and 3.25 per cent, respectively.
Non Performers*: Huntington Bancshares Inc (HBAN), Capital One Financial Corp Inc (COF) and Citizens Financial Group Inc (CFG) shares decreased by 7.18 per cent, 7.06 per cent and 6.47 per cent, respectively.
NASDAQ Composite (IXIC)
Top Performers*: MDC Partners Inc (MDCA), Vaxart Inc (VXRT) and Citius Pharmaceuticals Inc (CTXR) shares expanded by 112.17 per cent, 82.59 per cent and 73.15 per cent, respectively.
Worst Performers*: Luckin Coffee Inc (LK), Recon Technology Ltd (RCON) and Professional Diversity Network (IPDN) shares plunged by 53.67 per cent, 36.39 per cent and 35.77 per cent, respectively.
Top Performing Sector*: Utilities (+0.59 per cent).
Top Worst Sectors*: Energy (-2.74 per cent), Telecommunications Services (-2.27 per cent) and Financials (-2.13 per cent).
Dow Jones Industrial Average (DJI)
Top Performers*: Walmart Inc (WMT), Raytheon Technologies Corp (RTX) and Home Depot Inc (HD) shares zoomed up by around 0.70 per cent, 0.08 per cent and 0.02 per cent, respectively.
Worst Performers*: Goldman Sachs Group Inc (GS), Nike Inc (NKE) and JPMorgan Chase & Co (JPM) shares plunged by 6.36 per cent, 4.43 per cent and 3.80 per cent, respectively.
European Markets: The London’s broader equity benchmark index FTSE 100 traded at 12.16 points or 0.20 per cent higher at 6,159.30, the FTSE 250 index snapped at 1.09 points or 0.01 per cent higher at 17,113.21, and the FTSE All-Share Index ended 5.02 points or 0.15 per cent higher at 3,406.45, respectively. Another European index STOXX 600 ended down by 1.42 points or 0.39 per cent, at 358.32. Among other major European indices, DAX index closed the session at 12,089.39, down by 88.48 points or 0.73 per cent; CAC 40 index decreased by 8.94 points or 0.18 per cent and ended the trading session at 4,909.64.
European News: London and European markets remained volatile as investors were cautious regarding the resurgence of COVID-19 cases. Meanwhile, the car production in Britain has fallen sharply by an annual 95 per cent in May as factories remained shut during the lockdown period. Among the gaining stocks, the airline stocks International Consolidated Airlines Group SA and Easyjet gained close to 2.0 per cent each as Britain is set to relax restrictions for international travellers from certain countries. On the flip side, Aston Martin Lagonda Global Holdings PLC slumped around 12.9 per cent after issuing of new shares. Marston’s PLC dipped over 8.6 per cent on uncertain financial outlook. Similarly, following the oil prices plunge, the energy majors – BP PLC and Royal Dutch Shell PLC shed over 1.2 per cent and 0.5 per cent, respectively.
London Stock Exchange
Top Three Performers*: 888 HOLDINGS PLC (888), SCHRODERS REAL ESTATE INVESTMENT (SREI) and ROYAL MAIL PLC (RMG) accelerated significantly by 12.85 per cent, 6.54 per cent and 6.51 per cent, respectively.
Worst Performers*: INTU PROPERTIES PLC (INTU), AMIGO HOLDINGS PLC (AMGO) and ASTON MARTIN LAGONDA (AML) plunged by 55.19 per cent, 18.24 per cent and 16.67 per cent, respectively.
FTSE 100 Index Performance
3 months FTSE 100 Index Performance (June-26-2020), before the market closed (Source: Refinitiv, Thomson Reuters)
Best Gainers*: SMITH GROUP PLC (LON: SMIN), OCADO GROUP PLC (LON: OCDO) & SPIRAX-SARCO ENGINEERING PLC (LON: SPX) leapt up by 4.56 per cent, 3.47 per cent and 3.05 per cent, respectively.
Non Performers*: ROLLS-ROYCE HOLDINGS PLC (LON: RR.), LAND SECURITIES GROUP PLC (LON: LAND) and EVRAZ PLC (LON: EVR) traded in the red zone and decreased by 3.25 per cent, 2.40 per cent and 2.08 per cent, respectively.
Shares traded with decent volume*: (LLOY) LLOYDS BANKING GROUP PLC; (VOD) VODAFONE PLC; (BARC) BARCLAYS PLC.
Top Sectors traded in the positive zone*: Industrials (+1.85 per cent), Technology (+1.78 per cent), and Consumer Non-Cyclicals (+1.69 per cent).
Top Sector traded in the negative zone*: Telecommunications Services (-0.23 per cent).
Crude Oil Future Prices*: WTI crude oil (future) price was hovering at $38.34 per barrel & Brent future crude oil (future) price was trading at $40.88 per barrel.
Forex Rates*: GBP to USD and EUR to GBP were hovering at 1.2339 and 0.9098, respectively.
Bond Yields*: U.S 10-Year Treasury yield was tilting at 0.636 per cent, and the UK 10-Year Government Bond yield was hovering at 0.174 per cent, respectively.
*At the time of writing
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