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US Markets: Broader indices in the United States traded in red - particularly, the S&P 500 index traded 87.89 points or 2.24 per cent lower at 3,837.54, Dow Jones Industrial Average Index dipped by 504.30 points or 1.58 per cent lower at 31,457.56, and the technology benchmark index Nasdaq Composite traded lower at 13,155.12, down by 442.84 points or 3.26 per cent against the previous day close (at the time of writing, before the US market close at 1:10 PM ET).
US Market News: The major indices of Wall Street traded in red zone despite fall in the initial jobless claims data. Among the gaining stocks, Norwegian Cruise Line Holdings shares went up by about 5.21% after the quarterly revenue came out to be more than expectations. Moderna shares jumped by approximately 2.42%, after the Company expected USD 18.4 billion of sales from the Covid-19 vaccine this year. Among the declining stocks, Best Buy shares plunged by approximately 8.07% due to weak holiday quarterly sales. Shares of Tesla went down by about 2.77% after the reports that the Company had halted production at the California assembly plant.
US Stocks Performance*
UK Market News: The London markets traded on a mixed note amid the flurry of earning results, partially offset the inflation worries. FTSE 100 traded marginally lower by around 0.11%, as rising mining and energy stocks outweighed the weak performance of Hikma Pharmaceuticals and Standard Chartered. Britain's furlough scheme cost reached 53.8 billion pounds during January 2021.
Global Mining Company, Anglo American shares surged by approximately 4.86% although it reported a 41% drop in the FY20 profit. However, the Company witnessed significant recovery during the second half of 2020, driven by an increase in commodity prices.
Outsourcer Serco Group had reported an increase in the FY20 revenue and profit. The Company had announced a final dividend payment of 1.4 pence per share. Moreover, the shares rose by around 4.95%.
Banking giant Standard Chartered reported a more than 50% drop in the annual profit adversely impacted by the Covid-19 pandemic. Furthermore, the Company had resumed dividend payments and announced a share buyback. However, the shares fell by approximately 5.05%.
FTSE 100 listed Hikma Pharmaceuticals had reported a 11% increase in the FY20 core operating profit, driven by robust growth in generics and injectables businesses. However, the profit had missed analyst expectations. Meanwhile, the shares went down by around 4.92%.
European Indices Performance (at the time of writing):
FTSE 100 Index One Year Performance (as on 25 February 2021)
1 Year FTSE 100 Chart (Source: EODHD/Others, Thomson Reuters)
Top 3 Volume Stocks in FTSE 100*: Lloyds Banking Group Plc (LLOY); Rolls-Royce Holdings Plc (RR.); BP Plc (BP.).
Top 3 Sectors traded in green*: Energy (+1.46%), Basic Materials (+1.35%) and Financials (+0.62%).
Top 3 Sectors traded in red*: Healthcare (-1.04%), Consumer Non-Cyclicals (-0.70%) and Utilities (-0.58%).
London Stock Exchange: Stocks Performance (at the time of writing)
Crude Oil Future Prices*: Brent future crude oil (future) price and WTI crude oil (future) price were hovering at $65.78/barrel and $63.03/barrel, respectively.
Gold Price*: Gold price was quoting at US$1,768.90 per ounce, down by 1.61% against the prior day closing.
Currency Rates*: GBP to USD: 1.4042; EUR to GBP: 0.8684.
Bond Yields*: US 10-Year Treasury yield: 1.536%; UK 10-Year Government Bond yield: 0.789%.
*At the time of writing
