European Market Closed In Green; Energy And Healthcare Sectors Shines

  • Apr 23, 2019 BST
  • Team Kalkine
European Market Closed In Green; Energy And Healthcare Sectors Shines

The US stock market advanced on Tuesday on the back of strong earnings. The S&P 500 rose by 26.05 points or 0.90% to 2,934.02, and was trading near the highest valuation since September 2018, the Dow Jones Industrial Average surged by 129.66 points or 0.49% to 26,640.71, and the Nasdaq Composite was up by 111.34 points or 1.39% to 8,126.60, at the time of writing.

Better-than-expected earnings by a host of industrial companies assuaged investors' worry about slowing profits. After the US administration announced its decision to remove waivers from US sanctions on import of Iranian crude, oil prices hit their highest since November on Tuesday. Boosted by lower mortgage rates and house prices, sales of new U.S. single-family homes jumped 4.5 per cent to a near 1-1/2-year high in March.

The European market also closed in green: the large-cap equity index FTSE 100 ended higher by 63.19 points or 0.85% to 7,523.07, while the STOXX 600 was up by 0.89 points or 0.23% to 391.35. The FTSE 250 index closed at 19,908.02, reflecting an increase of 72.09 points or 0.36%. The FTSE All-Share index rose by 30.85 points or 0.76% to 4,115.59 at the end of the day.

Amid anger amongst Tory MPs, meetings resumed between the Labour party and Mrs May's government following the Easter break to find a deal that could win the support of MPs. Sterling declined to a two-month low on Tuesday as the PM faced growing calls to quit and the chances of a breakthrough faded. Mrs May is expected to ask MPs to vote on a critical piece of legislation next week.

London Stock Exchange Cues

The best performing stocks on the London Stock Exchange were THOMAS COOK (TCG), ENQUEST (ENQ) and FOXTONS (FOXT), which rose by 18.33%, 8.15% and 7.69% respectively. The worst performing stocks on the London Stock Exchange were RDI REIT (RDI), FUNDING CIRCLE (FCH) and VP (VP), which declined by 11.39%, 6.44% and 5.16% respectively.

FTSE 100 Index

 5-day Daily Price Chart (as on April 23, 2019). (Source: Thomson Reuters)

In the FTSE 100 index, top performers were NMC HEALTH (NMC), AUTO TRAD (AUTO) and HIKMA (HIK), which rose by 4.09%, 3.05% and 2.84% respectively. The top three fallers of the index were EASYJET (EZJ), ANTOFAGASTA (ANTO) and INTL CONSOL AIR (IAG), which declined by 3.86%, 3.39% and 3.27% respectively.

The top volume leaders of the FTSE 100 index were Lloyd Banking Group Plc (LLOY), Vodafone Group Plc (VOD) and Melrose Industries Plc (MRO).

On sector specific front, Energy, Healthcare and Technology were among the leading performers on the broader index FTSE 100; and on the other side, Telecommunications Services, Financials and Basic Materials were among the losers on the FTSE 100 index.

Exchange Rates*

  • GBP/USD was trading at 1.2935.
  • EUR/GBP was quoting at 0.8673.

Bond Yields*

  • US 10Y Treasury Bond yield was hovering at 2.570%.
  • UK 10Y Bond yield was quoting at 1.224%. 

*At the time of writing

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