UK Market: The UK market was trading in red after the pound sterling crashed to an all-time low against the US dollar. Investors awaited an expected announcement from the Bank of England following the development, which came after Chancellor Kwasi Kwarteng announced tax cuts in his mini budget on Friday and also vowed to bring more such measures.
Unilever Plc (LON: ULVR): Shares of the British multinational FMCG company jumped over 1% after it announced that its Chief executive Alan Jope plans to step down from the position at the end of next year.
Frasers Group (LON: FRAS): Shares of the British retail and intellectual property group slipped nearly 2% after the company announced that it has made a final mandatory offer for the remaining shares of MySale.
Pendragon Plc (LON: PDG): Shares of the British auto retailer jumped over 19% after it announced that it has received a £406mln takeover bid from its largest shareholder Hedin Mobility Group.
US Markets: The US market is likely to get a negative start, as indicated by the futures indices. S&P 500 future was down by 64.76 points or 1.72% at 3,693.23, while the Dow Jones 30 future was down by 1.62% or 486.27 points at 29,590.41. The technology-heavy index Nasdaq Composite future was also down by 1.80% or 198.88 points, at 10,867.93. (At the time of writing – 8:36 am ET).
US Market News:
Shares of the casino operator Las Vegas Sands (LVS) surged 7% in the premarket trading session after Macau announced the resumption of tour groups from mainland China.
Shares of the utility company PG&E (PCG) jumped over 5% in the premarket trading session after the S&P Dow Jones Indices announced that the company will replace Citrix Systems in the S&P 500.
European Indices Performance (at the time of writing):
FTSE 100 Index One Year Performance (as on 26 September)
Top 3 Volume Stocks in FTSE 100*: Lloyds Banking Group plc (LLOY), Barclays Plc (BARC), Vodafone Group Plc (VOD)
Top 3 sectors traded in green*: Industrials (0.67%), Consumer Non-cyclicals (0.40%), Healthcare (0.01%)
Top 3 sectors traded in red*: Utilities (-3.28%), Real Estate (-3.07%), Energy (-2.28%)
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 $84.44/barrel and $78.28/barrel, respectively.
Gold Price*: Gold price was quoting at US$1,650.85 per ounce, down 0.29% against the prior day's closing.
Currency Rates*: GBP to USD: 1.0807; EUR to USD: 0.9653.
Bond Yields*: US 10-Year Treasury yield: 3.761%; UK 10-Year Government Bond yield: 4.147%.
*At the time of writing