UK Market: The UK stock market was trading in the positive territory on Monday, with the blue-chip FTSE100 index gaining around 0.9 per cent. This came with the new UK Chancellor Jeremy Hunt's emergency fiscal statement, which eased the market sentiment as sterling went up and gilt yields dropped. The statement aided in calming down the markets in the first session since the Bank if England halted its government bond-buying scheme. Hunt has said that most of the tax cuts announced in the mini-budget will be reversed.
Barratt Developments Plc (LON: BDEV): The shares of the leading UK home construction business, Barratt Developments Plc, were up by 5.16%, with a day’s high of GBX 364.90. The business has recently reported a decrease in its private reservations amid soaring economic uncertainty.
Hargreaves Lansdown plc (LON: HL.): The shares of the UK’s leading financial services firm, Hargreaves Lansdown plc, were down by 5.15%, with a day’s low of GBX 770.60. The firm has announced that its CEO Chris Hill will be stepping down next year.
Halma plc (LON: HLMA): The shares of the life-saving technology company, Halma plc, were down by 3.97%, with a day’s low of GBX 1,962.00. The company has recently taken over IZI Medical Products, a Maryland-based medical device manufacturer.
US Markets: The US market is likely to get a positive start, as indicated by the futures indices. S&P 500 future was up by 43.50 points or 1.21% at 3,641.25, while the Dow Jones 30 future was up by 1.02% or 304 points at 30,041.00. Meanwhile, the technology-heavy index Nasdaq Composite future was also up by 1.49% or 159.75 points, at 10,900.50. (At the time of writing – 8:30 AM ET).
The shares of the American banking organisation, Bank of America (BAC), were up by over 3% in the premarket trading session. This happened after the bank reported an increase in its net income in its third-quarter earnings report.
The shares of the natural gas producer Archaea Energy (LFG) were up by over 5% in the premarket trading session after it agreed to be taken over by BP for $26 per share.
European Indices Performance (at the time of writing):
FTSE 100 Index One Year Performance (as on 17 October)
Top 3 Volume Stocks in FTSE 100*: Lloyds Banking Group plc (LLOY), Vodafone Group plc (VOD), BP plc (BP.)
Top 3 sectors traded in green*: Utilities (2.76%), Real Estate (1.96%), Financials (1.90%)
Top sector traded in red*: Energy (-0.57)
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 $92.36/barrel and $85.28/barrel, respectively.
Gold Price*: Gold price was quoting at US$ 1,670.85 per ounce, up by 1.33% against the prior day closing.
Currency Rates*: GBP to USD: 1.1354; EUR to USD: 0.9784
Bond Yields*: US 10-Year Treasury yield: 3.922%; UK 10-Year Government Bond yield: 3.9710%
*At the time of writing