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US Markets: Broader indices in the United States traded in green - particularly, the S&P 500 index traded 46.92 points or 1.71% higher at 2,796.90, Dow Jones Industrial Average Index surged by 401.78 points or 1.71% higher at 23,835.35, and the technology benchmark index Nasdaq Composite traded higher at 8,143.10, up by 52.20 points or 0.65% against its previous day close (at the time of writing, before the U.S market close at 11:00 AM ET).
US News: The Wall Street surged as the Federal Reserve announced an additional USD 2.3 trillion in loan to contain the economic disruption. The Federal intends to support local governments by earmarking USD 600 million in loan for municipalities, cities and states. Meanwhile, even in the last week ended on 4th April, we witnessed 6.6 million initial jobless claims in the US. On the other hand, Russia has today indicated that it is willing to cut production, in order to support global crude oil prices which had lost nearly a third of its value in trading in March on account of a price war scenario initiated by Saudi Arabia, after talks between Russia and OPEC failed in early March to agree on a production cut formula. It is to be noted here that Russia has agreed yesterday to come back to the negotiating table after intense persuasion. Subsequently, Exxon Mobile and Chevron Corp shares increased between 2% to 4%. Among other stocks, Disney’s shares gained over 3.7% post announcing 50 million paid subscribers in their streaming service. Fiat Chrysler gained over 3.5% after postponing their annual general meeting.
S&P 500 (SPX)
Top Performers*: Apache Corp, Kohls Corp, and United Airlines Holdings Inc shares increased by 25.46%, 17.87% and 17.34% respectively.
Non Performers*: Resmed Inc, Intel Corp and Citrix System Inc shares decreased by 3.15%, 2.85% and 2.66% respectively.
NASDAQ Composite (IXIC)
Top Performers*: US Well Services Inc, CleanSpark Inc, and CNS Pharmaceuticals Inc shares expanded by 262.58%, 184.55% and 55.64% respectively.
Worst Performers*: Seanergy Maritime Holdings Corp, Viveve Medical Inc and BIOLASE shares plunged by 27.48%, 26.91% and 14.18% respectively.
Top Performing Sectors*: Energy (+5.86%), Utilities (+4.95%), and Basic Materials (+4.39%).
Top Non-Performer Sector*: Technology (-0.08%).
Dow Jones Industrial Average (DJI)
Top Performers*: Raytheon Technologies Corp, JPMorgan Chase & Co and Dow Inc are the top gainers and increased by 7.54%, 6.84% and 6.35%, respectively.
Non Performers*: Intel Corp, UnitedHealth Group Inc and Cisco Systems Inc shares decreased by 3.65%, 1.99% and 1.73% respectively.
European Markets: The London’s broader equity benchmark index FTSE 100 traded at 164.93 points or 2.90% higher at 5,842.66, the FTSE 250 index snapped at 545.09 points or 3.44% higher at 16,407.92, and the FTSE All-Share Index ended 93.14 points or 2.97% higher at 3,233.24 respectively. Another European equity benchmark index STOXX 600 ended up by 5.13 points or 1.57 per cent, at 331.80. Among other major European indices, DAX index closed the session at 10,564.74, up by 231.85 points or 2.24%; CAC 40 index increased by 64.10 points or 1.44% and ended the trading session at 4,506.85.
European News: London and European stocks surged, with the hopes Covid-19 pandemic is reaching a peak, while investors are focussing on bloc’s meeting regarding the rescue package. Meanwhile, the Royal Institute of Chartered Surveyors has today warned that the housing market in the United Kingdom is in bad shape and unless a timely action on the part of the government is not initiated the market could collapse. The Institute suggested that the government should announce a stamp duty holiday for the industry when the pandemic is over so that the market may recover early. Among the stocks, Just Eat Takeaway soared 9% after stating 50% order jump in the first quarter. Diageo PLC gained over 3.5% after releasing its trading update and suspending capital returns plans. The homebuilder Redrow gained 6.7% post winning approval for emergency financing scheme. Similarly, other housebuilders such as Barratt Development, Persimmon and Taylor Wimpey also gained around 5%. Also, the Restaurant Group surged about 6.3% after share placement.
London Stock Exchange
Top Performers*: SUPERDRY PLC (SDRY), CINEWORLD GROUP PLC (CINE) and HYVE GROUP PLC (HYVE) are top movers and rose by 31.85%, 30.95% and 29.10%, respectively.
Worst Performers*: ELECTRA PRIVATE EQUITY PLC (ELTA), BMO COMMERCIAL PROPERTY TRUST LD (BCPT) and HARWORTH GROUP PLC (HWG) plunged by 6.25%, 5.93% and 5.60%, respectively.
FTSE 100 Index
5 days FTSE 100 Index Performance (April-09-2020), before the market closed (Source: TR)
Best Gainers*: LEGAL & GENERAL GROUP PLC (LGEN), JUST EAT TAKEAWAY.COM N.V. (JET) and JD SPORTS FASHION PLC (JD.) expanded by 12.16%, 11.25% and 10.98%, respectively.
Non Performers*: BP PLC (BP.), ANTOFAGASTA PLC (ANTO) and EXPERIAN PLC (EXPN) plunged by 1.83%, 1.76% and 1.25%, respectively.
Shares traded with high-level volume*: (LLOY) LLOYDS BANKING GROUP PLC; (BARC) BARCLAYS PLC; (CNA) CENTRICA PLC.
Top Sectors traded in the positive zone*: Consumer Cyclicals (+4.30%), Technology (+3.79%) and Basic Materials (+3.16%).
Oil Prices*: WTI crude oil future price was nudging at $25.23 per barrel, and Brent crude oil future price was trading at $33.31 per barrel.
Forex Rates*: GBP/USD and EUR/GBP were hovering at 1.2452 and 0.8780, respectively.
Bond Yields*: U.S 10-Year Treasuries yield was tilting at 0.722%, and the UK 10-Year Government Bond yield was hovering at 0.305%, respectively.
*At the time of writing
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