Brexit Worries Pushes Sterling To 2-Weeks Low Against Dollar

  • Jun 14, 2019 BST
  • Team Kalkine
Brexit Worries Pushes Sterling To 2-Weeks Low Against Dollar

Global Markets: On the last trading day of this week, equity indices in the United States were trading lower, with the S&P 500 index was trading at 2,883.53 and slumped 8.1 points or 0.28% in the Friday’s session, the Dow Jones Industrial Average Index fell off 40.77 points or 0.16% against the yesterday’s close and quoting at 26,066.00 and the technology benchmark index Nasdaq Composite trading at 7,791.22 and declined by 45.67 or 0.58% against yesterday’s close, at the time of writing.

Global News:  President Donald Trump accused Iran of attacking oil tankers near Strait of Hormuz, a strategic waterway which carries a fifth of globally consumed oil. The US released a video saying it shows the Iranian role, but Iran dismissed all the accusations. As shares of chipmakers sank after Broadcom warned of chip demand slowdown due to the ongoing trade war, Wall Street's main indexes dropped on Friday. After data showed a pick-up in consumer spending in May, Treasury yields jumped on Friday, flattening the yield curve.

European Markets: The London’s broader equity benchmark index FTSE 100 traded at 22.79 points or 0.31% lower at 7,345.78, the FTSE 250 index snapped 54.03 points or 0.28% lower at 19,118.34, and the FTSE All-Share Index ended 12.04 points or 0.30% lower at 4,010.80 respectively. European benchmark index STOXX 600 ended 1.52 points or 0.40% lower at 378.81 respectively.

European News: Boris Johnson, who was way ahead of rivals in the first vote and is the frontrunner to be the next prime minister, said the UK must prepare for no-deal as he gave an explicit pledge that Brexit would happen by the latest Brexit deadline of October 31. Philip Hammond said that he would not be part of a government which was ready to leave the bloc without an agreement. As Brexiteer Boris Johnson moved closer to becoming the next prime minister, the British pound fell again on Friday as investors trimmed their positions.

London Stock Exchange (LSE)

Top Performers Stocks: VIVO ENERGY PLC (VVO), ASA INTERNATIONAL GROUP PLC (ASAI), and CENTAMIN PLC (CEY) surged by 7.81 per cent, 5.83 per cent and 5.09 per cent respectively.

Top Laggards Stocks: KIER GROUP PLC (KIE), LOW & BONAR PLC (LWB), and GULF MARINE SERVICES PLC (GMS) decreased by 35.50 per cent, 11.33 per cent and 10.09 per cent respectively.

FTSE 100 Index

 FTSE100 Index: 5-days Price Chart as on June 14, 2019. (Source: Thomson Reuters)

Top Risers Stocks: FRESNILLO PLC (FRES), NATIONAL GRID PLC (NG.) and COMPASS GROUP PLC (CPG) rose by 3.37 per cent, 1.82 per cent and 1.51 per cent respectively.

Top Fallers Stocks: ITV PLC (ITV), AUTO TRADER GROUP PLC (AUTO) and SMITH (DS) PLC (SMDS) reduced by 4.32 per cent, 3.24 per cent and 2.97 per cent respectively.


Top Risers Sectors: Utilities (+0.92%), Healthcare (+0.20%), and Industrials (+0.20%).

Top Fallers Sectors: Technology (-1.34%), Telecommunications Services (-1.07%) and Financials (-0.64%).

Foreign Exchange and Fixed Income

FX Rates*: GBP/USD and EUR/GBP were exchanging at 1.2588 and 0.8906 respectively.

10-Year Bond Yields*: US 10Y Treasury and UK 10Y Bond yields were trading at 2.093% and 0.844% respectively. 

*At the time of writing

With Bank of England reducing the interest rates to a historic low level, the spotlight is back on diverse investment opportunities. 

Amidst this, are you getting worried about these falling interest rates and wondering where to put your money?

Well! Team Kalkine has a solution for you. You still can earn a relatively stable income by putting money in the dividend-paying stocks.

We think it is the perfect time when you should start accumulating selective dividend stocks to beat the low-interest rates, while we provide a tailored offering in view of valuable stock opportunities and any dividend cut backs to be considered amid scenarios including a prolonged market meltdown.

To know more about these dividend stocks, click here

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK