Brexit Crisis Deepens in the UK

August 20, 2019 06:25 PM BST | By Team Kalkine Media
 Brexit Crisis Deepens in the UK

Global Markets: Stocks in the United States were trending in red, with the Dow Jones Industrial Average Index fell off 18.06 or 0.07% to 26,117.12, the S&P 500 index declined 5.25 points or 0.18% to 2,918.31, and the technology benchmark index Nasdaq Composite reduced by 3.50 points or 0.04% to 7,999.04 respectively, at the time of writing.

Global News: Giving Wall Street banks one of its biggest victory under the Trump administration, two US banking regulators on Tuesday approved the final version of the Volcker Rule, which banned banks from trading on their own account, even as proposed changes have been criticized for fear of new systemic risks. Concerns over impending Brexit, the political crisis in Italy and prospect of more central bank easing boosted demand for government bond, sending Treasury yields lower on Tuesday. Â Weighed by declines in financial companies, equity slipped on Tuesday after three sessions of strong gains.

European Markets: The London’s broader equity benchmark index FTSE 100 traded at 64.65 points or 0.9% lower at 7,125.00, the FTSE 250 index snapped 89.88 points or 0.47% lower at 19,008.09, and the FTSE All-Share Index ended 31.69 points or 0.81% lower at 3,904.60 respectively. Another European equity benchmark index STOXX 600 ended at 371.30, down by 2.56 points or 0.68 per cent.

European News: Italian Prime Minister Giuseppe Conte announced his resignation on Tuesday, opening way for a search for a new coalition government. The PM accused League party chief and his interior minister, Matteo Salvini, of seeking to cash in on his rising popularity for personal and political gain at the cost of the 14-month-old government and national interests. The European Union on Tuesday refused a demand by Prime Minister Boris Johnson to axe the Irish backstop plan and renegotiate the Brexit divorce deal. The EU said that Johnson had not provided any realistic alternative. The monthly order book balance of the Confederation of British Industry (CBI) rose to -13 from -34 in July, indicating that the downturn in British manufacturing eased off a little in August.

London Stock Exchange (LSE)

Top Performers : MAB (MITCHELLS & BUTLERS PLC), ALFA (ALFA FINANCIAL SOFTWARE HOLDINGS PL) and LOOK (LOOKERS PLC) are top performers of the day and up by 8.02%, 6.87% and 5.50% respectively.

Top Laggards : KCT (KIN AND CARTA PLC), FCH (FUNDING CIRCLE HOLDINGS PLC) and NOG (NOSTRUM OIL & GAS PLC) are the top three laggards of the day and down by 14.53%, 7.47% and 6.67% respectively.

FTSE 100 Index

FTSE 100 Index Chart: 5-days Price Performance (as on August-20-2019), after the market closed. (Source: Thomson Reuters)

Top Three Risers: SBRY (SAINSBURY(J) PLC), PRU (PRUDENTIAL PLC) and OCDO (OCADO GROUP PLC) are the top three gainers in today’s session and up by 2.95%, 0.93% and 0.87% respectively.

Top Three Fallers: KGF (KINGFISHER PLC), UU. (UNITED UTILITIES GROUP PLC), and BT.A (BT GROUP PLC) are top laggards at the FTSE 100 index and down by 3.19%, 2.73% and 2.71% respectively.

Top Three Active Volume Stocks: LLOYDS BANKING GROUP PLC (LLOY), BARCLAYS PLC (BARC), and GLENCORE PLC (GLEN).

Top Falling Sectors: Utilities (-1.99%), Telecommunications Services (-1.76%) and Basic Materials (-1.74%).

Foreign Exchange and Fixed Income

FX Rates (the time of writing): GBP/USD and EUR/GBP were trading at 1.2170 and 0.9120 respectively.

10-Year Bond Yields (at the time of writing): US 10Y Treasury and UK 10Y Bond yields were exchanging at 1.550% and 0.454% respectively.


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