After these Sessions of Gains, FTSE 100 Falls as US-China Tensions

  • Nov 21, 2019 GMT
  • Team Kalkine
After these Sessions of Gains, FTSE 100 Falls as US-China Tensions

Global Markets: Broader indexes in the United States were trading in red, with the S&P 500 index traded 2.59 points or 0.08% lower at 3,105.87, Dow Jones Industrial Average Index declined by 14.62 points or 0.05% and quoting at 27,806.47 and the technology benchmark index Nasdaq Composite was trading lower at 8,512.60 and down by 14.13 points or 0.17% against its previous day close (at the time of writing, before the U.S market close at ET 2:20 PM).

Global News: On 21st November 2019, the Wall Street opened lower, following news reports in China underpinning various hurdles that might sway the de-escalation of trade tensions between US and China. In terms of stocks, Macy’s stock was down by approximately 4 per cent post revising to lower forecasts on its full year profit. TD Ameritrade stock jumped a massive 24.5 per cent after new sources reported rumours around a Charles Schwab takeover. Tesla was up by 1.3 per cent after the company revealed its electric Pick-up truck. Tiffany and Co stocks were up following news reports suggesting that LVMH raised its purchase offer on the company to US $130 per share. Apple was up by 0.8 per cent, after the President of the United States implied that he might exempt the smartphone maker from an increase in tariffs. Reports around Fiat Chrysler suggested that the lawsuit against the company by General Motors will not affect the company’s merger with PSA group, post which its share price was up by 1.5 per cent.

S&P 500 (SPX)*

Top Performers: Charles Schwab Corp, Copart Inc and L Brands Inc are top gainers and increased by 9.88%, 6.31% and 5.39% respectively.

Worst Performers: E*TRADE Financial Corp, KLA Corp and Applied Materials Inc are the top three laggards and decreased by 6.32%, 5.99% and 4.83 % respectively.

NASDAQ Composite (IXIC)*

Top Performers: Wah Fu Education Group Ltd, Hepion Pharmaceuticals Inc, and Onconova Therapeutics Inc are top gainers and increased by 132.76%, 63.22% and 46.67% respectively.

Worst Performers: InVivo Therapeutics Holdings Corp, Genius Brands International Inc and Aurora Mobile Ltd are the top three laggards and decreased by 39.75%, 39.43% and 33.03% respectively.

Top Performing Sectors*: Financials (up 0.42%), Telecommunications Services (up 0.16%) and basic Materials (up 0.12%).

Worst Performing Sectors*: Technology (down 0.23%), Utilities (down 0.10%), and Consumer Non-Cyclicals (down 0.06%).

Dow Jones Industrial Average (DJI)*

Top Performers: Exxon Mobil Corp, UnitedHealth Group Inc and Chevron Corp are top gainers and increased by 0.76%, 0.51% and 0.30% respectively.

Worst Performers:  3M Co, Merck & Co Inc and American Express Co are the top three laggards and decreased by 0.70%, 0.60% and 0.55% respectively.

European Markets: The London’s broader equity benchmark index FTSE 100 traded at 23.94 points or 0.33% lower at 7,238.55, the FTSE 250 index snapped 105.39 points or 0.52% lower at 20,369.86, and the FTSE All-Share Index ended 14.52 points or 0.36% lower at 4,002.37 respectively. Another European equity benchmark index STOXX 600 ended at 402.22, down by 1.60 points or 0.40 per cent.

European News: The leader of opposition and Labour party Jeremy Corbyn reiterated that his government would get the Brexit sorted in six months, and unveiled the most radical Labour manifesto in decades, consisting of a sweeping nationalisation of infrastructure, higher taxes on companies and public sector pay rises, as both the parties promise to spend more money on public services before the election. The Office for National Statistics reported that government borrowing in October alone rose by 25% over the year to £11.2 billion as the Conservative looked to end a decade of austerity, with the spending expected to rise further if both the parties follow up on their election promises.

London Stock Exchange (LSE)

Top Performers*: AO WORLD PLC (AO.), CENTRICA PLC (CNA) and BROWN(N.) GROUP PLC (BWNG) are top performers of the day and up by 9.53%, 7.95% and 7.28% respectively.

Worst Performers*: ROYAL MAIL PLC (RMG), JOHNSON MATTHEY PLC (JMAT) and NEWRIVER REIT PLC (NRR) are the top three laggards of the day and down by 14.31%, 6.78% and 6.74% respectively.

FTSE 100 Index

 FTSE 100 Index Chart: 5-days Price Performance (as on November-21-2019), before the market closed. (Source: Thomson Reuters)

Performers*: CENTRICA PLC (CNA), BRITISH AMERICAN TOBACCO PLC (BATS) and ADMIRAL GROUP PLC (ADM) are the top three gainers in today’s session and up by 7.95%, 3.01% and 1.43% respectively.

Laggards*: JOHNSON MATTHEY PLC (JMAT), IMPERIAL BRANDS PLC (IMB), and FRESNILLO PLC (FRES) are top laggards at the FTSE 100 index and down by 7.12%, 3.88% and 2.68% respectively.

Active by Volume*: LLOYDS BANKING GROUP PLC (LLOY), CENTRICA PLC (CNA), and INTL CONSOLIDATED AIRLINES GROUP SA (IAG).

Worst Performing Sectors*: Basic Materials (-1.66%), Financials (-1.08%), and Industrials (-1.02%).

Forex Rates*: GBP/USD and EUR/GBP were quoting at 1.2904 and 0.8571, respectively.

Bond Yields*: U.S 10-Year Treasuries yield was quoting at 1.779%, and the UK 10-Year Government Bond yield was trading at 0.768%, respectively.

*At the time of writing

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