US Markets: Broader indices in the United States traded in red - particularly, the S&P 500 index traded 76.07 points or 2.43 per cent lower at 3,055.22, Dow Jones Industrial Average Index plunged by 663.42 points or 2.54 per cent lower at 25,492.68, and the technology benchmark index Nasdaq Composite traded lower at 9,921.79, down by 209.58 points or 2.07 per cent against its previous day close (at the time of writing, before the U.S market close at 11:40 AM ET).
US News: The surge in the reported novel coronavirus cases weighed down on Wall Street as major market indices opened in the red. As per the recent IMF report (June economic outlook update), the US GDP will decline by 8 per cent in 2020. The shares which gained against the downward moving market were Amazon whose stock moved up by about 0.3 per cent; the company got provisional clearance from the British regulator for its purchase of 16.0 per cent stake in Deliveroo. The shares of Dell Technologies and VMWare were up by close to 8.1 per and 4.5 per cent, respectively, after the report stated that the Dell Technologies will sell its 81 per cent stake in VMware. The stocks which lost grounds were Wells Fargo down by close to 2.61 per cent; the company signed the agreement with Royal Dutch Shell for multi-year purchase of renewable energy. The shares of Tesla declined by close to 2.74 per cent; the US Traffic Safety Administration opened an investigation for the failure of control units in Tesla cars. AstraZeneca shares were down by close to 1.52 per cent; it signed a deal for experimental COVID-19 vaccine with a Scottish drug maker Symbiosis pharma.
S&P 500 (SPX)
Top Performers*: Regeneron Pharmaceuticals (REGN), CH Robinson Worldwide (CHRW), and Citrix System Inc (CTXS) stocks jumped by 1.46 per cent, 1.36 per cent and 1.02 per cent, respectively.
Non Performers*: Norwegien Cruise Line Holdings (NCLH), Royal Caribbean Cruises Ltd (RCL) and Carnival Corp (CCL) shares decreased by 9.60 per cent, 9.18 per cent and 8.56 per cent, respectively.
NASDAQ Composite (IXIC)
Top Performers*: Wins Finance Holdings Inc (WINS), Professional Diversity Network Inc (IPDN) and Yunhong CTI Ltd (CTIB) shares expanded by 228.13 per cent, 94.51 per cent and 63.98 per cent, respectively.
Worst Performers*: Castor Maritime Inc (CTRM), Avinger Inc (AVGR) and Fuwei Films (Holdings) Co Ltd (FFHL) shares plunged by 36.75 per cent, 27.05 per cent and 20.27 per cent, respectively.
Top Worst Sectors*: Financials (-1.89 per cent), Energy (-1.78 per cent) and Industrials (-1.67 per cent).
Dow Jones Industrial Average (DJI)
Top Performers*: Procter & Gamble Co (PG) shares zoomed up by around 0.01 per cent.
Worst Performers*: Raytheon Technologies Corp (RTX), Boeing Co (BA) and Walgreens Boots Alliance Inc (WBA) shares plunged by 2.49 per cent, 2.48 per cent and 2.15 per cent, respectively
European Markets: The London’s broader equity benchmark index FTSE 100 traded last at 196.43 points or 3.11 per cent lower at 6,123.69, the FTSE 250 index snapped at 501.97 points or 2.84 per cent lower at 17,150.83, and the FTSE All-Share Index ended 105.48 points or 3.02 per cent lower at 3,392.63, respectively. Another European index STOXX 600 ended down by 10.23 points or 2.78 per cent, at 357.17. Among other major European indices, DAX index closed the session at 12,093.94, down by 429.82 points or 3.43 per cent; CAC 40 index decreased by 146.32 points or 2.92 per cent and ended the trading session at 4,871.36.
European News: London and European markets tumbled with a spike in COVID-19 cases across the globe. The investor also digested Prime Minister Johnson's recent update regarding the further lockdown easing. Meanwhile, the Gold prices are moving towards 8-year high since investors are switching to safer bets. Also, the jobs of 20,000 people working at British Airports are at risk due to the prolonged demand slump. Adjacently, the GDP for UK is projected to fall by 10.2 per cent in FY20, according to latest report from the International Monetary Fund (IMF). Among the gaining stocks, Premier Foods PLC and Naked Wines surged over 15.4 per cent and 8.7 per cent, respectively, after reporting upbeat result since the demand soared during the lockdown scenario. Meanwhile, following the oil prices slid, the energy majors – BP PLC and Premier Oil dipped over 2.0 per cent each. Among the decliners, Crest Nicholson Holdings PLC dropped over 9.0 per cent after expecting the adjusted pre-tax profit to fall around 60 per cent to 70 per cent. Petrofac Ltd slipped around 7.9 per cent after taking a hit in first-half trading due to the pandemic.
London Stock Exchange
Top Three Performers*: PREMIER GOOD PLC (PFC), DISCOVERIE GROUP PLC (DSCV) and SCHRODER EUROPEAN REAL ESTATE (SERE) accelerated significantly by 14.09 per cent, 5.59 per cent and 5.35 per cent, respectively.
Worst Performers*: CREST NICHOLSON HOLDINGS PLC (CRST), PETROFAC LIMITED (PFC) and MICRO FOCUS INTERNATIONAL (MCRO) plunged by 12.92 per cent, 11.39 per cent and 9.64 per cent, respectively.
FTSE 100 Index Performance
3 months FTSE 100 Index Performance (June-24-2020), before the market closed (Source: Refinitiv, Thomson Reuters)
Best Gainers*: AVAST PLC (LON: AVST), POLYMETAL INTERNATIONAL PLC (LON: POLY) & OCADO GROUP PLC (LON: OCDO) leapt up by 2.12 per cent, 1.49 per cent and 1.06 per cent, respectively.
Non Performers*: INTERNATIONAL CONSOLIDATED AIRLINES GROUP S.A. (LON: IAG), SMITH & NEPHEW PLC (LON: SN.) and KINGFISHER PLC (LON: KGF) traded in the red zone and decreased by 7.58 per cent, 6.30 per cent and 5.55 per cent, respectively.
Shares traded with decent volume*: (LLOY) LLOYDS BANKING GROUP PLC; (VOD) VODAFONE PLC; (BARC) BARCLAYS PLC.
Top Sectors traded in the negative zone*: Energy (-3.09 per cent), Industrials (-2.87 per cent), and Consumer Cyclicals (-2.68 per cent).
Crude Oil Future Prices*: WTI crude oil (future) price was hovering at $38.11 per barrel & Brent future crude oil (future) price was trading at $40.43 per barrel.
Forex Rates*: GBP to USD and EUR to GBP were hovering at 1.2432 and 0.9062, respectively.
Bond Yields*: U.S 10-Year Treasury yield was tilting at 0.684 per cent, and the UK 10-Year Government Bond yield was hovering at 0.190 per cent, respectively.
*At the time of writing
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