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Global Markets: In the Wednesdayâs session, equity indices at the Wallstreet were trending in green, with the broader index S&P 500 added 17.04 points or 0.56% and quoting at 2,989.80, the Dow Jones Industrial Average Index surged by 114.31 points or 0.43% against the previous day closing price and quoting at 26,902.44 and the technology benchmark index Nasdaq Composite added 46.80 points or 0.57% in todayâs session and trading at 8,155.64, at the time of writing.
Global News: As investors fear a slowing global economy, raising prospects of a rate cut, on Wednesday, the S&P 500 index hit a record high, while the benchmark 10-year Treasury yields slipped to its lowest since November 2016, resulting in a fall in banking stocks. The US trade deficit increased by 8.4 per cent to $55.5 billion in May, reaching a five-month high, as goods imports jump by 4.0 per cent. After Iran announced that it had stockpiled more low-enriched uranium than is permitted, it said on Wednesday that it would raise fissile purity of enriched uranium after July 7 to whatever levels it needs beyond the cap set.
European Markets: The Londonâs broader equity benchmark index FTSE 100 traded at 50.13 points or 0.66% higher at 7,609.32, the FTSE 250 index snapped 131.50 points or 0.67% higher at 19,790.83, and the FTSE All-Share Index ended 26.97 points or 0.65% higher at 4,150.07 respectively. European benchmark index STOXX 600 ended 3.29 points or 0.85% higher at 392.58 respectively.
European News: The IHS Markit/CIPS services Purchasing Managers Index (PMI) slipped to 50.2 in June, signalling that the British economy appears to have shrunk for the first time since late 2012 between April and June. To shore up a worsening economic outlook, investors predicted that the Bank of England would cut interest rate, leading to a decline in Sterling. This also led to a decrease in yields, and for the first time since 2008, the five-year yield dipped below the two-year yield in early trade on Wednesday, sending a recession risk signal.
London Stock Exchange (LSE)
Top Performers Stocks: FLUTTER ENTERTAINMENT PLC (FLTR), FOXTONS GROUP PLC (FOXT), and SOPHOS GROUP PLC (SOPH) surged by 11.48 per cent, 11.19 per cent and 8.13 per cent respectively.
Top Laggards Stocks GOODWIN PLC (GDWN), PHOTO-ME INTERNATIONAL PLC (PHTM), and DIPLOMA PLC (DPLM) decreased by 7.19 per cent, 6.13 per cent and 5.13 per cent respectively.
FTSE 100 Index
FTSE100 Index: 5-days Price Chart as on July 03, 2019. (Source: Thomson Reuters)
Top Risers Stocks: FLUTTER ENTERTAINMENT PLC (FLTR), HALMA PLC (HLMA) and JD SPORTS FASHION PLC (JD.) rose by 11.48 per cent, 3.15 per cent and 2.92 per cent respectively.
Top Fallers Stocks: ANGLO AMERICAN PLC (AAL), BP PLC (BP) and NMC HEALTH PLC (NMC) reduced by 1.99 per cent, 1.73 per cent and 1.05 per cent respectively.
Top Active Volume Leaders: LLOYDS BANKING GROUP PLC, VODAFONE GROUP PLC, and GLENCORE PLC.
Top Risers Sectors: Telecommunications Services (+1.87%), Consumer Cyclicals (+1.52%) and Consumer Non-Cyclicals (+1.43%).
Top Fallers Sectors: Energy (-0.80%) and Basic Materials (-0.12%).
Foreign Exchange and Fixed Income
FX Rates*: GBP/USD and EUR/GBP were exchanging at 1.2577 and 0.8969 respectively.
10-Year Bond Yields*: US 10Y Treasury and UK 10Y Bond yields were trading at 1.953% and 0.698% respectively.Â
*At the time of writing
