UK Market: The UK stock market was trading in the positive territory on Tuesday, with the blue-chip FTSE100 index gaining over 0.02 per cent. This happened after the report published by consultancy KPMG and the British Retail Consortium (BRC) showed that retail sales in the UK had gone up by 1.6% on a like-for-like basis in the month of July. The increase in sales was owed to the heatwave enhancing the demand for electric fans, clothing, and picnic items. The year-on-year increase in sales was flattered by the surging prices as several businesses are still experiencing a drop in their sales volumes.
Standard Chartered plc (LON: STAN): The shares of the leading British banking firm, Standard Chartered plc, rallied by 2.50%, with a day’s high of GBX 622.40. The company is planning to issue US$1.25bn Additional Tier 1 Securities next week.
BP plc (LON: BP.): The shares of the oil producing giant, BP plc, rose by 2.01%, with a day’s high of GBX 424.65. The company has recently boosted its returns amid rising oil and gas prices and has raised its dividend by 10%.
Shell plc (LON: SHEL): The shares of the leading oil company, Shell plc, surged by 1.80%, with a days high of GBX 2,199.50. The company has recently delayed its maintenance work at the Prelude FLNG facility due to industrial action.
US Markets: The US market is likely to get a sluggish start, as indicated by the futures indices. S&P 500 future was down by 13.75 points or 0.33% at 4,128.00, while the Dow Jones 30 future was down by 0.10% or 32 points at 32,760.00. The technology-heavy index Nasdaq Composite future was also down by 0.68% or 86 points, at 12,536.25. (At the time of writing – 8:30 AM ET).
The shares of the US-based biotechnology company, Novavax (NVAX), tumbled by 32.3% in the premarket trading session. This happened after the company reported an unexpected loss in its quarterly revenues and lowered its annual guidance.
The shares of the digital healthcare company, GoodRx (GDRX), rallied by 39.6% in the premarket trading session. This happened after the company released better-than-expected results for the quarter and also declared the resolution of its issue with a leading grocery chain.
European Indices Performance (at the time of writing):
FTSE 100 Index One Year Performance (as on 9 August)
Top 3 Volume Stocks in FTSE 100*: Glencore plc (GLEN), Lloyds Banking Group plc (LLOY), HSBC Holdings plc (HSBA)
Top 3 sectors traded in red*: Consumer Cyclicals (-0.93%), Basic Materials (-0.73%), Real Estate (-0.68%)
Top 3 sectors traded in green*: Energy (1.85%), Financials (0.55%)
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 $97.90/barrel and $92.06/barrel, respectively.
Gold Price*: Gold price was quoting at US$ 1,809.55 per ounce, up by 0.24% against the prior day closing.
Currency Rates*: GBP to USD: 1.2107; EUR to USD: 1.0237.
Bond Yields*: US 10-Year Treasury yield: 2.786%; UK 10-Year Government Bond yield: 1.9765%.
*At the time of writing