Global Markets*: Stocks in the United States were trending in green, with the Dow Jones Industrial Average Index rose by 229.92 points or 0.89% to 26,192.36, the S&P 500 index surged by 23.66 points or 0.82% to 2,924.17, and the technology benchmark index Nasdaq Composite increased by 80.22 points or 1.01% to 8,028.78 respectively.
Global News*: As investors try to determine the path of future rate cuts from the much-awaited release of the Fed minutes and upbeat earnings were reported by two retail companies, US equity rose broadly on Wednesday. Treasury yields increased as risk sentiment improved as the prime focus of investors this week would be key events by the central bank. The existing home sales increased by 2.5 per cent to an annual rate (adjusted seasonally) of 5.42m units last month, the National Association of Realtors reported on Wednesday, as home sales increased over the expected figure in July 2019.
European Markets*: The London’s broader equity benchmark index FTSE 100 traded at 78.56 points or 1.13% higher at 7,205.56, the FTSE 250 index snapped 179.05 points or 0.94% higher at 19,187.14, and the FTSE All-Share Index ended 41.70 points or 1.07% higher at 3,946.30 respectively. Another European equity benchmark index STOXX 600 ended at 375.51, up by 4.20 points or 1.13 per cent.
European News*: Following the collapse of the previous populist coalition in Italy, the main opposition party said it was ready to hold talks with the ruling party over forming a government, as the Italian president looks to resolve the political crisis to avoid a snap election. Prime Minister Boris Johnson went to Germany on his first foreign trip as PM, where he is set to tell the German leader that Britain will leave the European Union on the deadline without a deal unless she agrees to change the Brexit deal and remove the Irish-backstop plan. As expenditure rose in July, the British government posted a smaller-than-expected budget surplus, which stood at GBP 1.319 billion, against GBP 3.562 billion in July 2018.
London Stock Exchange (LSE)
Top Performing Stocks*: COSTAIN GROUP PLC (COST), FULLER, SMITH & TURNER PLC 'A' (FSTA) and AMIGO HOLDINGS PLC (AMGO) are top performers of the day and up by 11.69%, 7.24% and 6.83% respectively.
Top Falling Stocks*: NOSTRUM OIL & GAS PLC (NOG), HOSTELWORLD GROUP PLC (HSW) and DIGNITY PLC (DTY) are the top three laggards of the day and down by 17.43%, 7.91% and 5.60% respectively.
FTSE 100 Index
FTSE 100 Index Chart: 5-days Price Performance (as on August-21-2019), before the market closed. (Source: Thomson Reuters)
Top Three Performers*: BURBERRY GROUP PLC (BRBY), TUI AG (TUI) and NMC HEALTH PLC (NMC) are the top three gainers in today’s session and up by 3.94%, 3.68% and 3.50% respectively.
Top Three Laggards*: PHOENIX GROUP HOLDINGS PLC (PHNX), LEGAL & GENERAL GROUP PLC (LGEN), and BHP GROUP PLC (BHP) are top laggards at the FTSE 100 index and down by 2.09%, 1.38% and 1.16% respectively.
Top Three Active Volume Stocks*: LLOYDS BANKING GROUP PLC (LLOY), BARCLAYS PLC (BARC), and VODAFONE GROUP PLC (VOD).
Top Performing Sectors*: Technology (+1.98%), Industrials (+1.80%) and Energy (+1.61%).
Foreign Exchange and Fixed Income
FX Rates*: GBP/USD and EUR/GBP were trading at 1.21197 and 0.91568, respectively.
10-Year Bond Yields*: US 10Y Treasury and UK 10Y Bond yields were exchanging at 1.567% and 0.455% respectively.
* At the time of writing
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