At Global front, US market rose on Tuesday supported by technology companies and consumer discretionary sector amid decent earnings’ session. Google’s parent company, Alphabet Inc (GOOGL.O) witnessed a stock price fall on Tuesday on higher spending worries. Meanwhile, market participants in the US were waiting for Donald Trump’s State of the Union address.
In the money market, US 10-years treasury yields were seen to be falling, as investors have started discounting Federal Reserve’s dovish interest rate outlook. At the time of writing, US 10-Year Bond was trading at 2.69, depicting a fall of 1.1% from the previous close.
Lately, Netflix Inc (NFLX.O) announced another film production deal with Viacom Inc (VIAB.O), and the deal took place to produce more shows and movies for others.
Coming back to the European market, on London Stock Exchange, the broader equity index FTSE 100 index closed the Tuesday’s session at GBP 7177.37. The index was up by 2% from its Monday’s closing; and European benchmark STOXX 600 was also seen to be up at 364.74 around market close, up 1.3% from its previous close.
On Tuesday, BP Plc (BP.L) reported a higher profit of $12.7 billion for FY18, and company’s profit was driven by a sharp jump in oil and gas output in combination with the acquisition of a large portfolio of US shale assets. BP Plc shares closed at GBP 547, up 5.17% from previous day closing price.
On the other hand, the drug maker, GlaxoSmithKline (GSK.L) on Tuesday agreed to pay up to 3.7 bn euros to Germany’s Merck KGaA (MRCG.DE) to enhance its cancer drug development pipeline.
Brexit News: At UK side, with only 52 days remaining to Brexit. The British Prime Minister Theresa May is trying to convince Pro-Brexit Tories over Irish Backstop. Irish PM Leo Varadkar said he is seeing a growing desire among EU leaders to avoid no-deal Brexit. The British Prime Minister is all set to meet EU’s Juncker in Brussels on Thursday, and May said she only wants to seek changes in the backstop.
In the forex market, at the time of writing, currency pair GBP/USD was trading at 1.30, and EUR/GBP was trading at 0.88. Ongoing Brexit uncertainties and weak UK manufacturing PMI data for January dragged the sterling in the forex market.
In the commodity market, International Crude oil benchmarks, Brent Crude Oil and WTI Crude Oil were trading lower on Tuesday from their previous closes. At the time of writing Brent Crude oil was trading at $62.2/barrel and WTI Crude oil was trading at $53.8/barrel.
On February 05, 2019, LSE stocks like BP Plc (BP.L), Smurfit Kappa Group Plc (SKG.L) and Ocado Group Plc (OCDO.L) were among the top performers on the broader equities benchmark FTSE 100 index and were up by 5.17%, 5.09% and 4.17%, respectively. Meanwhile, stocks like SEGRO Plc (SGRO.L), Associated British Food Plc (ABF.L) and Fresnillo Plc (FRES.L) were laggards on the broader index FTSE 100 and were down by 0.90%, 0.54% and 0.47%, respectively.
On sector specific front, almost every sector on the broader European equities benchmark FTSE 100 index closed in green, with Healthcare, Energy and Consumer Non-Cyclicals among the top performers on LSE.
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