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US Markets: Broader indices in the United States traded in green - particularly, the S&P 500 index traded 26.36 points or 0.81 per cent higher at 3,297.48, Dow Jones Industrial Average Index expanded by 253.01 points or 0.96 per cent higher at 26,681.33, and the technology benchmark index Nasdaq Composite traded higher at 10,896.77, up by 151.49 points or 1.41 per cent against the previous day close (at the time of writing, before the US market close at 12:15 PM ET).
US Market News: The Wall Street opened in green amid the earnings season. As per the data reported by the Institute for Supply Management, the US national activity index increased to 54.2 in July 2020 from 52.6 in June 2020. Among the gaining stocks, Zoom shares were up by close to 6.0 percent after the company is likely to switch to partner only model in China and discontinue direct sales. Microsoft shares surged by about 4.7 percent after the company is expected to buy the US business of Tik Tok. Virgin Galactic shares were up by about 1.9 percent after the company partnered with Rolls Royce for aircraft design. Among the decliners, Clorox was down by about 2.3 percent after the company reported plans to find a new CEO. Alphabet's shares were down by close to 0.8 percent after the company acquired a minority stake in ADT, a home security solutions provider.
US Stocks Performance (at the time of writing)
European News: London and the European market opened in the green. The UK's PMI increased to 53.3 in July 2020 from reported PMI of 50.1 in June 2020. The PMI index for the Euro Zone increased from 47.4 in June 2020 to 51.8 in July 2020. Among the gaining stocks, XP Power surged up by close to 13.3 percent after the company reported increased order intake for the first half of 2020. Metro Bank was up by about 8.0 percent after the company announced it would buy RateSetter, a peer-2 peer (P2P) lender. Shell was up by close to 0.7 percent after the company reported that it would acquire Select Carbon, an environmental services firm. Among the losing stocks, Non-Standard Finance plunged by about 24.9 percent after the company said that FCA would review the processes of the company. Hammerson was down by around 6.8 percent after the company announced a plan to raise £800 million capital. HSBC declined by close to 2.6 percent after the company increased the provision for bad debt expense.
European Indices Performance (at the time of writing)
FTSE 100 Index Chart
1 Year FTSE 100 Index Performance (3 August 2020), before the market closed (Source: Refinitiv, Thomson Reuters)
Stocks traded with decent volume*: (LLOY) LLOYDS BANKING GROUP PLC; (HSBA) HSBC HOLDINGS PLC; (VOD) VODAFONE GROUP PLC.
Sectors traded in the positive zone*: Basic Materials (+3.34%); Technology (+3.25%), and Healthcare (+2.77%).
London Stock Exchange: Stocks Performance (at the time of writing)
Crude Oil Future Prices*: WTI crude oil (future) price and Brent future crude oil (future) price were hovering at $40.83 per barrel and $43.92 per barrel, respectively.
Gold Price*: Gold price was trading at USD 1,980.30 per ounce, up by 0.32% from previous day closing.
Currency Rates*: GBP to USD and EUR to GBP were hovering at 1.3075 and 0.8998, respectively.
Bond Yields*: U.S 10-Year Treasury yield and UK 10-Year Government Bond yield were trading at 0.559 per cent and 0.106 per cent, respectively.
*At the time of writing
