FTSE 100 Remains Flat Amid Geo-Political Tensions

May 10, 2019 10:30 PM BST | By Team Kalkine Media
 FTSE 100 Remains Flat Amid Geo-Political Tensions

Global Markets: On the last trading day of this week, equities at the Wallstreet were trading in green zone, with the Dow Jones Industrial Average Index was trading 166.97 points or 0.65 per cent higher at 25,995.33, the S&P 500 Index was quoting at 2,888.38 and surged by 17.66 points or 0.62 per cent against the previous day close, and the technology benchmark index Nasdaq Composite accelerated by 29.59 points or 0.37 per cent to 7,940.18, at the time of writing.

Global News: While negotiators entered the second day of last-ditch negotiations to try to save a deal, Washington increased its tariffs to 25% from 10% on Chinese goods worth $200 billion. This rattled the market as investors are worried the dispute could spiral out of control, leading to more money being pushed into bonds. Underlying U.S. consumer prices remained muted at 0.3 per cent in April, while CPI rose by 2 per cent year-on-year.

European Markets: The London’s broader equity benchmark index FTSE 100 traded at 4.12 points or 0.06% lower at 7,203.29, the FTSE 250 index snapped 81.22 points or 0.42% higher at 19,366.80, and the FTSE All-Share Index ended 0.72 points or 0.02% higher at 3,955.81 respectively. European benchmark index STOXX 600 ended 1.22 points or 0.32% higher at 377.14 respectively.

European News: In line with expectations from the Bank of England, GDP grew at a quarterly rate of 0.5% in the first quarter of 2019, indicating a sharp one-off boost from manufacturers. Donald Tusk, the president of the European Council, said the probability of the UK not leaving the EU is as high as 30 per cent.

London Stock Exchange

Top Risers Stocks: SIRIUS MINERALS PLC (SXX), THOMAS COOK GROUP PLC (TCG), and XAAR PLC (XAR) rose by 9.01 per cent, 6.59 per cent and 5.96 per cent respectively.

Top Fallers Stocks: LOW & BONAR PLC (LWB), SUPERDRY PLC (SDRY) and MCBRIDE PLC (MCB) declined by 7.05 per cent, 5.41 per cent and 4.95 per cent respectively.

FTSE 100 Index

FTSE100 Index: 5-days Price Chart as on May 10, 2019. (Source: Thomson Reuters)

Top Performers Stocks: INTERTEK GROUP PLC (ITRK), INTERNATIONAL CONSOLIDATED AIRLINES GROUP S.A. (IAG) and MORRISON (WM) SUPERMARKETS PLC (MRW) increased by 1.99 per cent, 1.90 per cent and 1.75 per cent respectively.

Top Laggards Stocks: BUNZL PLC (BNZL), IMPERIAL BRANDS PLC (IMB) and BRITISH LAND COMPANY PLC (BLND) declined by 2.97 per cent, 2.83 per cent and 2.40 per cent respectively.

Top Volume Leaders: LLOYDS BANKING GROUP PLC (LLOY), VODAFONE GROUP PLC (VOD) and BP PLC (BP).

Top Performers Sectors: Utilities (+0.51%), Basic Materials (+0.46%), and Industrials (+0.44%).

Top Fallers Sectors: Healthcare (-1.44%), Technology (-0.36%) and Consumer Non-Cyclicals (-0.34%).

Foreign Exchange and Fixed Income

FX Rates*: GBP/USD and EUR/GBP were exchanging at 1.3009 and 0.8636 respectively.

10-Year Bond Yields*: US 10Y Treasury and UK 10Y Bond yields were trading at 2.462% and 1.139% respectively.

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*At the time of writing


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