Bank Of England Keeps Interest Rate On Hold

September 20, 2019 08:40 AM AEST | By Team Kalkine Media
 Bank Of England Keeps Interest Rate On Hold

Global Markets*: Benchmark equity indices in the United States were hovering in green during the Thursday’s trading session, with the S&P 500 index was trading 13.57 points or 0.45% higher at 3,020.29, Dow Jones Industrial Average Index added 91.24 points or 0.34% and quoting at 27,236.09 and the technology benchmark index Nasdaq Composite was trading higher at 8,232.95 and up by 55.11 points or 0.69% against its previous day close, at the time of writing.

Global News: US Secretary of State Mike Pompeo has described the attack on Saudi oil facilities as an act of war by Iran, which it has repeatedly refused, and warned the US President Donald Trump on Thursday against any US or Saudi military strike as it would lead to an all-out war in the Middle East. To defuse the tensions between the largest economies in the world over a range of issues, for the first time in nearly two months US and Chinese deputy trade negotiators were set to resume negotiations on Thursday.

European Markets: The London’s broader equity benchmark index FTSE 100 traded at 42.37 points or 0.58% higher at 7,356.42, the FTSE 250 index snapped 35.03 points or 0.17% higher at 20,089.46, and the FTSE All-Share Index ended 20.03 points or 0.50% higher at 4,044.88 respectively. Another European equity benchmark index STOXX 600 ended at 391.80, up by 2.39 points or 0.61 per cent.

European News: A court document tweeted on Thursday by an opposition lawyer revealed that even if the Supreme Court rules that prorogation of the parliament by British Prime Minister Boris Johnson was unlawful, he could suspend parliament again. The Monetary Policy Committee of the central bank voted to keep rates on hold at 0.75 per cent, and the bank said that a failure to reach an agreement by the latest deadline would worsen the problem, adding that Brexit uncertainty and slower world economic growth was a drag to British economic growth. As the bank warned that Brexit uncertainty was damaging productivity and detailed damage to the economy from a further Brexit delay, British pound and government bond yields fell on Thursday.

London Stock Exchange

Top Performers*: CHARLES TAYLOR PLC (CTR), SAGA PLC (SAGA) and IG GROUP HOLDINGS PLC (IGG) are top gainers and increased by 38.72%, 13.17% and 9.57% respectively.

Worst Performers*: NEXT PLC (NXT), MACAU PROPERTY OPP. FUND LD (MPO) and MJ GLEESON PLC (GLE) are the top three laggards and decreased by 5.48%, 5.22% and 5.04% respectively.

FTSE 100 Index

Five days Price Performance (September-19-2019), before the market closed; Source: Thomson Reuters

Top Gainers*: INTL CONSOLIDATED AIRLINES GROUP SA (IAG), VODAFONE GROUP PLC (VOD) and ASTRAZENECA PLC (AZN) are top gainers at the FTSE 100 index and climbed by 2.96%, 2.89% and 2.33% respectively.

Top Laggards*: NEXT PLC (NXT), OCADO GROUP PLC (OCDO) and JD SPORTS FASHION PLC (JD.) are top three laggards in today’s session and reduced by 5.58%, 4.61% and 3.51% respectively.

Volume Leaders*: (LLOY) LLOYDS BANKING GROUP PLC; (VOD) VODAFONE GROUP PLC; (MRO) MELROSE INDUSTRIES PLC.

Top Performing Sectors*: Telecommunications Services (up 2.36%), Healthcare (up 1.43%) and Financials (up 0.89%).

Worst Performing Sectors*: Consumer Cyclicals (down 0.39%), Basic Materials (down 0.10%) and Consumer Non-Cyclicals (down 0.08%).

FX Rates (at the time of writing): GBP/USD and EUR/GBP were trading at 1.2481 and 0.8856 respectively.

10-Year Bond Yields (at the time of writing): US 10Y Treasury and UK 10Y Bond yields were exchanging at 1.767% and 0.637% respectively.Â

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*At the time of writing


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