FTSE 100 edged higher after the UK services sector grew at the fastest pace since 2013

US Markets: Broader indices in the United States traded in green - particularly, the S&P 500 index traded 14.20 points or 0.34 per cent higher at 4,181.79, Dow Jones Industrial Average Index surged by 188.24 points or 0.55 per cent higher at 34,418.58, and the technology benchmark index Nasdaq Composite traded higher at 13,588.34, up by 5.92 points or 0.04 per cent against the previous day close (at the time of writing - 12:00 PM ET).

US Market News: The major indices of Wall Street traded on a mixed note after Joe Biden announced plans to back intellectual property waivers on COVID-19 shots. Among the gaining stocks, PayPal Holdings shares went up by about 1.35% after its quarterly earnings per share came out to be 21 cents ahead of estimates. Among the declining stocks, Etsy shares plunged by about 13.94% after the Company had warned of slowing user growth. Uber Technologies shares went down by about 8.12% after the Company had posted a loss for the latest quarter. Tapestry shares dropped by around 4.35%, even after the Company had reported an encouraging full-year forecast due to an improvement in demand for luxury goods.

US Stocks Performance*

UK Market News: The London markets traded in a green zone ahead of the latest policy announcement from the Bank of England. FTSE 100 advanced higher by around 0.52%, boosted by the record growth of the UK services sector during April 2021. The IHS Markit/CIPS services PMI (“Purchasing Managers Index”) had increased to 61.0 during April 2021, while it was 56.3 in March 2021.

British Retailer Next shares rose by about 1.30% after the Company had upgraded its annual pre-tax profit guidance by 20 million pounds to 720 million pounds driven by robust first-quarter sales.

Wealth Manager Rathbone Brothers had reported a growth in first-quarter funds under management and income, benefitted by the strong performance of fund business. Moreover, the shares grew by around 3.77%.

Barratt Developments shares went up by around 1.61% after the Company had expected full-year results to remain modestly ahead of the expectations.

Luxury Carmaker Aston Martin shares dropped by about 1.30%, even after the Company had held its full-year guidance as it reported a surge in first-quarter sales.

European Indices Performance (at the time of writing):

 

FTSE 100 Index One Year Performance (as on 6 May 2021)

            1 Year FTSE 100 Chart (Source: Refinitiv, Thomson Reuters)

Top 3 Volume Stocks in FTSE 100*: Lloyds Banking Group Plc (LLOY); Vodafone Group Plc (VOD); Barclays Plc (BARC).

Top 3 Sectors traded in green*: Utilities (+1.48%), Real Estate (+0.85%) and Consumer Non-Cyclicals (+0.72%).

Top 3 Sectors traded in red*: Technology (-0.41%), Industrials (-0.29%) and Consumer Cyclicals (-0.27%).

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 $68.11/barrel and $64.75/barrel, respectively.

Gold Price*: Gold price was quoting at US$1,814.20 per ounce, up by 1.68% against the prior day closing.

Currency Rates*: GBP to USD: 1.3890; EUR to GBP: 0.8679.

Bond Yields*: US 10-Year Treasury yield: 1.563%; UK 10-Year Government Bond yield: 0.7855%.

*At the time of writing


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