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Highlights
- FTSE100 trades lower, giving up some gain of yesterday. However, travel and hotels stocks are trading higher after Pfizer and BioNTech vaccine received US-FDA approval.
- Crude oil trades higher after a deadly fire in the Gulf of Mexico resulted in production outage and cut down in the global crude oil supply.
FTSE100 trades marginally lower, down by 0.38% at 7080. However, the airlines and hotel stocks traded higher after US-FDA’s full approval for the Pfizer and BioNTech vaccine. US-FDA approval is expected to encourage people to take up vaccine doses and prevent the coronavirus spread. Also, the investors anticipate further ease in travel restrictions on the transatlantic routes driven by the higher vaccination in the United States. Meanwhile, the Mid-cap focused FTSE250 index was up by 0.41% at 23,837.
Top five FTSE100 gainer
Whitbread plc (3.61%), Ocado Group plc (2.78%), Rio Tinto plc (2.86%), International Consolidated Airlines Group SA (2.71%), Antofagasta plc (2.70%)
Top five FTSE100 losers
Sainsbury (J) plc (-5.12%), Imperial Brands Group (-2.21%), Kingfisher (-2.27%), Hikma Pharmaceuticals (-1.99%), Burberry Group plc (-2.08%)
European Markets
Major European market indexes are showing a mixed trend. The German blue-chip DAX index is up by 0.13% at 15,873, while the benchmark index of France, CAC 40, was at 6,643, down by 0.60%. European market traded in positive zone in the early morning after solid gains on wall street overnight, with a jump of 1.6% in Nasdaq composite index.
Currency Markets
The pound continues to trade marginally higher against the dollar at 1.3718, up by 0.03%; the dollar stabilised against the European currencies after registering a sharp fall yesterday. The traders will have a keen eye on the Federal Reserve’s Jackson Hole meeting. The EUR/ GBP currency pair traded at 0.8563, up by 0.05%.
Commodities
WTI crude oil future contract traded at USD 67.05, up by 2.16%, while the Brent crude oil trades at USD 69.87, up by 2.19%. Crude oil continues to trade higher on Tuesday, bouncing back from last week fall of over 9% after a deadly fire at the Gulf of Mexico resulted in the production outage and cutting global crude oil supply by 444,000 barrels per day.
Meanwhile, the Gold futures contract traded up by 0.11% at USD 1808 per ounce.
Asian Markets
Major Asia Pacific indexes closed in the green. China’s Shanghai Composite closed at 3,514, up by 1.07%, Hong Kong’s Hang Seng index also closed up by 2.46% at 25,727. India’s Nifty 50 closed at 16624, up by 0.78%, while the Nikkei 225 of Japan closed at 27,732, up by 0.87%. Australia’s ASX200 closed at 7,503, up by 0.17%.
