Global Markets: Equity Indices in the United States on the last trading day of this week were firm in green, with the broader index S&P 500 index was up by 35.69 points or 1.26% at 2,879.18, the Dow Jones Industrial Average Index surged by 312.55 points or 1.22% in the today’s session and quoting at 26,033.21 and the technology benchmark index Nasdaq Composite added 136.62 points or 1.79% and trading at 7,752.17, at the time of writing.
Global News: U.S. job growth slowed sharply in May and wages increased less than expected as nonfarm employment increased by 75,000 positions in May, fewer than the 185,000 expected, and average hourly earnings increased by 6 cents to $27.83. The unemployment rate was hovering at 3.6 per cent. Treasury yields tumbled and stock indexes rose as disappointing labour data put pressure on the Federal Reserve to cut rates this year. United States granted two more weeks to the Chinese exporters to export their product in the U.S.
European Markets: The London’s broader equity benchmark index FTSE 100 traded at 72.09 points or 0.99% higher at 7,331.94, the FTSE 250 index snapped 166.87 points or 0.88% higher at 19,232.39, and the FTSE All-Share Index ended 37.78 points or 0.95% higher at 4,008.15 respectively. European benchmark index STOXX 600 ended 3.47 points or 0.93% higher at 377.48 respectively.
European News: An attempt to prosecute Boris Johnson for deliberately misleading during the 2016 EU referendum campaign was rejected by the judges at London’s High Court on Friday. The official resignation of the British Prime Minister Theresa May triggered a leadership contest to replace her. A parliamentary seat in eastern England was narrowly won by the opposition Labour Party, fending off a fierce challenge by the Brexit Party. During the three months to the end of May, house prices rose at the fastest annual rate since the start of 2017, as prices were 5.2% higher than in 2018, up from 5.0% annual growth in the three months to April.
London Stock Exchange (LSE)
Top Performers Stocks: MILLENNIUM & COPTHORNE HOTELS PLC (MLC), FINDEL PLC (FDL), and KIER GROUP PLC (KIE) surged by 35.00 per cent, 10.48 per cent and 7.15 per cent respectively.
Top Laggards Stocks: CARPETRIGHT PLC (CPR), CAPITAL & REGIONAL PLC (CAL), and CLIPPER LOGISTICS PLC (CLG) decreased by 8.53 per cent, 8.14 per cent and 6.98 per cent respectively.
FTSE 100 Index
FTSE100 Index: 5-days Price Chart as on June 07, 2019. (Source: Thomson Reuters)
Top Risers Stocks: SMURFIT KAPPA GROUP PLC (SKG), BRITISH AMERICAN TOBACCO PLC (BATS) and TUI AG (TUI) rose by 3.92 per cent, 3.38 per cent and 3.37 per cent respectively.
Top Fallers Stocks: MARKS AND SPENCER GROUP PLC (MKS), NEXT PLC (NXT) and OCADO GROUP PLC (OCDO) reduced by 1.34 per cent, 1.04 per cent and 0.80 per cent respectively.
Top Active Volume Leaders: LLOYDS BANKING GROUP PLC, VODAFONE GROUP PLC, and GLENCORE PLC.
Top Performers Sectors: Telecommunications Services (+2.05%), Consumer Cyclicals (+1.25%), and Consumer Non-Cyclicals (+1.05%).
Sage Group PLC (SGE) came under pressure on Friday after the market gave the stock a price target of GBX 650, in contrast to yesterday’s closing price of GBX 755.2, and downgraded its rating from HOLD to SELL. It was noted that although the company has made good progress shifting its focus to subscription services, recurring revenue growth is forecasted to slow as initial boost factors from a subscription transition fade.
On Friday, Sativa Investments (SATI) announced that it had signed a three-year commercial offtake deal with Alponics. Under the agreement, which follows a supply agreement with a Portuguese cannabis oil firm, the Swiss supplier of cannabis oil will provide Sativa with cannabidiol distillate and isolate until the end of 2022, further advancing its smart-sourcing strategy.
Foreign Exchange and Fixed Income
FX Rates*: GBP/USD and EUR/GBP were exchanging at 1.2740 and 0.8899 respectively.
10-Year Bond Yields*: US 10Y Treasury and UK 10Y Bond yields were trading at 2.084% and 0.817% respectively.
*At the time of writing
With Bank of England reducing the interest rates to a historic low level, the spotlight is back on diverse investment opportunities.
Amidst this, are you getting worried about these falling interest rates and wondering where to put your money?
Well! Team Kalkine has a solution for you. You still can earn a relatively stable income by putting money in the dividend-paying stocks.
We think it is the perfect time when you should start accumulating selective dividend stocks to beat the low-interest rates, while we provide a tailored offering in view of valuable stock opportunities and any dividend cut backs to be considered amid scenarios including a prolonged market meltdown.