Easing Trade Tensions Helps To Lift Up Stocks

3 min read | May 14, 2019 10:55 PM BST | By Team Kalkine Media

Global Markets: After starting the week in red, equities at the Wallstreet were trading in green in today’s session (Tuesday), with the S&P 500 Index surged by 35.96 points or 1.28 per cent to 2,847.83, the Dow Jones Industrial Average Index escalated by 313.89 points or 1.24 per cent to 25,638.88 and the technology benchmark Index Nasdaq Composite was quoting at 7,759.74 and increased by 112.72 points or 1.47 per cent against the previous day closing price, at the time of writing.

Global News: In early-morning tweets, US President Donald Trump sounded optimistic about a trade deal with China, helping global stocks to rebound on Tuesday. The Labour Department reported that US import prices rose less than expected in April, as the largest decrease in the price of capital goods in 10 years helped offset an increase in the cost of petroleum and food.

European Markets: The London’s broader equity benchmark index FTSE 100 traded at 77.92 points or 1.09% higher at 7,241.60, the FTSE 250 index snapped 240.54 points or 1.26% higher at 19,367.42, and the FTSE All-Share Index ended 42.95 points or 1.09% higher at 3,972.47 respectively. European benchmark index STOXX 600 ended 3.77 points or 1.01% higher at 376.34 respectively.

European News: Theresa May's divided cabinet has agreed that Brexit talks with Labour should continue but has set the start of the parliamentary summer recess as the deadline by which parliament must pass the withdrawal agreement to take Britain out of the EU. Mrs May's spokesperson reiterated that Theresa May would resign once the first phase of Brexit is complete. Britain's unemployment rate fell to 3.8% in the first quarter, reaching its lowest since the mid-1970s as employers hired in the run-up to preparation for Brexit.

London Stock Exchange

Top Risers Stocks: GREGGS PLC (GRG), DP EURASIA N.V. (DPEU), and GULF MARINE SERVICES PLC (GMS) rose by 15.08 per cent, 12.50 per cent and 8.82 per cent respectively.

Top Fallers Stocks: RENISHAW PLC (RSW), AJ BELL PLC (AJB) and NORCROS PLC (NXR) declined by 6.43 per cent, 5.62 per cent and 5 per cent respectively.

FTSE 100 Index

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

Top Performers Stocks: SPIRAX-SARCO ENGINEERING PLC (SPX), EVRAZ PLC (EVR) and DCC PLC (DCC) increased by 4.4 per cent, 4.31 per cent and 3.61 per cent respectively.

Top Laggards Stocks: OCADO GROUP PLC (OCDO), VODAFONE GROUP PLC (VOD) and EASYJET PLC (EZJ) declined by 4.17 per cent, 3.75 per cent and 1.57 per cent respectively.

Top Volume Leaders: VODAFONE GROUP PLC (VOD), LLOYDS BANKING GROUP PLC (LLOY) and BP PLC (BP.).

Top Performers Sectors: Basic Materials (+2.39%), Energy (+1.70%), and Technology (+1.44%).

Top Fallers Sectors: Telecommunications Services (-2.08%) and Utilities (-0.07%).

Foreign Exchange and Fixed Income

FX Rates*: GBP/USD and EUR/GBP were exchanging at 1.2914 and 0.8684 respectively.

10-Year Bond Yields*: US 10Y Treasury and UK 10Y Bond yields were trading at 2.421% and 1.101% respectively.

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*At the time of writing


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