Global Markets: Stocks in the United States were hovering in red zone, with Dow Jones Industrial Average Index lost 6.35 points or 0.02% to 27,084.37, the S&P 500 index dipped marginally by 1.06 points or 0.03% to 3,038.36 and the technology benchmark index Nasdaq Composite reduced by 40.07 points or 0.48% to 8,285.92, respectively (before the US market closed, at the time of writing 2:50 PM ET).
Global News: On 29th October 2019, the Wall Street opened as a mixed bag with the earnings season continued. General Motors stock rose 1.4 per cent post beating the Wall Street predictions. Boeing stock was down by 0.2 per cent ahead of the company’s testimony before the Senate by CEO Dennis Muilenburg in relation to the two fatal 737 Max crashes. Beyond Meat stock plunged significantly by 18.9 per cent after reporting a surprise profit which was not enough to outweigh the comments that it would need to add discounts to combat competition. Alphabet’s stock dropped by 1.5 per cent post reporting earnings below forecasts. Pfizer stock was up by 3.1 per cent after its earnings came in above estimates. Mastercard stock was up marginally by 1.1 per cent after it reported an 11 per cent growth in its profit.
S&P 500 (SPX)
Top Performers: Xerox Holdings Corp, National Oilwell Varco Inc and Leggett & Platt Inc are top gainers and increased by 12.93%, 9.40% and 7.76% respectively.
Worst Performers: IPG Photonics Corp, AO Smith Corp and Waters Corp are the top three laggards and decreased by 9.84%, 4.85% and 4.57% respectively.
NASDAQ Composite (IXIC)
Top Performers: Superconductor Technologies Inc, Amkor Technology Inc, and Texas Roadhouse Inc are top gainers and increased by 34.25%, 28.88% and 16.24% respectively.
Worst Performers: Xunlei Ltd, Beyond Meat Inc and Diffusion Pharmaceuticals Inc are the top three laggards and decreased by 22.28%, 20.35% and 17.41% respectively.
Top Performing Sector: Healthcare (up 0.07%).
Worst Performing Sectors*: Financials (down 0.03%), Utilities (down 0.17%) and Industrials (down 0.22%).
Dow Jones Industrial Average (DJI)
Top Performers: Pfizer Inc, Merck & Co Inc and UnitedHealth Group Inc are top gainers and increased by 3.17%, 2.04% and 0.80% respectively.
Worst Performers: Walmart Inc, Dow Inc and International Business Machines Corporation the top three laggards and decreased by 1.30%, 1.09%, and 0.95% respectively.
European Markets: The London’s broader equity benchmark index FTSE 100 traded at 25.02 points or 0.34% lower at 7,306.26, the FTSE 250 index snapped 41.83 points or 0.21% lower at 20,168.33, and the FTSE All-Share Index ended 12.60 points or 0.31% lower at 4,024.04 respectively. Another European equity benchmark index STOXX 600 ended at 398.37, down by 0.62 points or 0.16 per cent.
European News: As the European Union finalises a third delay to the divorce, calls by the British Prime Minister for an early election seemed plausible after it gained support from opposition parties, suggesting that the country was heading towards a December election on Tuesday. The PM would seek an election again on Tuesday by forcing a bill through parliament that would require a simple majority in parliament, after lawmakers refused Johnson his third demand for an election on Monday, while the legislation enacting the newly agreed Brexit deal has been put on hold. Nationwide reported that growth in house prices remained below 1 per cent for 11th month in a row as it rose by 0.4 per cent on the year, amid almost flat lining of British house prices ahead of Brexit.
London Stock Exchange
Top Performers*: XP POWER LD (XPP), PLUS500 LTD (PLUS) and PETRA DIAMONDS LD (PDL) are top gainers and increased by 7.17%, 6.87% and 6.18% respectively.
Worst Performers*: TT ELECTRONICS PLC (TTG), CONNECT GROUP PLC (CNCT) and CLIPPER LOGISTICS PLC (CLG) are the top three laggards and decreased by 4.92%, 4.62% and 4.35% respectively.
FTSE 100 Index
Five days Price Performance (October-29-2019), before the market closed; Source: Thomson Reuters
Top Gainers*: ASHTEAD GROUP PLC (AHT), CRH PLC (CRH) and INTL CONSOLIDATED AIRLINES GROUP SA (IAG) are top gainers at the FTSE 100 index and climbed by 1.34%, 1.23% and 1.12% respectively.
Top Laggards*: BP PLC (BP.), SSE PLC (SSE) and UNITED UTILITIES GROUP PLC (UU.) are top three laggards in today’s session and reduced by 3.42%, 2.93% and 2.52% respectively.
Volume Leaders*: (LLOY) LLOYDS BANKING GROUP PLC; (BP) BP PLC; (BT.A) BT GROUP PLC.
Worst Performing Sectors*: Utilities (down 1.77%), Telecommunications Services (down 1.39%), and Energy (down 1.33%).
Forex Rates*: GBP/USD and EUR/GBP were quoting at 1.2861 and 0.8639, respectively.
Bond Yields*: U.S 10-Year Treasuries yield was quoting at 1.835%, and the UK 10-Year Government Bond yield was trading at 0.705%, respectively.
*At the time of writing
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