Global Equities Rebound as Promising Signs from Central Banks & Lawmakers are Fuelling Hope

US Markets: Broader indices in the United States traded in green - particularly, the S&P 500 index traded 230.38 points or 9.29% higher at 2,711.02, Dow Jones Industrial Average Index expanded by 1,985.00 points or 9.36% higher at 23,185.62, and the technology benchmark index Nasdaq Composite traded higher at 7,874.88, up by 673.07 points or 9.35% against its previous day close (at the time of writing, after the U.S market closed).

US News: On 13^th March 2020, after facing the worst trading day since 1987, US Stocks opened in the green, with almost all major indices topping above 8 per cent. Historic wave of panic selling eased a bit in Friday’s trading session as investors banking upon central banks and governments to provide comprehensive economic stimulus package. In terms of stocks, Mastercard shares rose by around 6 per cent, while BlackRock shares were up by 8 per cent, mainly boosted by the investor confidence returning on Wall Streets. All major banking stocks also rose, as Bank of America was up by 5 per cent, while JP Morgan and Goldman Sachs both gained around 6 per cent at the time of writing.

S&P 500 (SPX)

Top Performers*: Norwegian Cruise Line Holding, Ameriprise Financial Inc and Oracle Corp are top gainers and increased by 14.30%, 13.19% and 13.07% respectively.

Worst Performers*: Apache Corp, NVR Inc and IDEXX Laboratories Inc are the top three laggards and decreased by 6.06%, 4.46% and 2.11% respectively.

NASDAQ Composite (IXIC)

Top Performers*: Globus Maritime Ltd, Good Times Restaurants Inc, and OPKO Health Inc are top gainers and increased by 114.65, 47.42% and 43.31% respectively.

Worst Performers*: Nabriva Therapeutics Plc, AudioEye Inc, and Tiziana Life Sciences Plc are the top three laggards and decreased by 29.67%, 28.32% and 26.62% respectively.

Top Performing Sectors*: Financials (Up 5.28%), Technology (Up 4.82%) and Industrial (Up 4.37%).

Dow Jones Industrial Average (DJI)

Top Performers*: Boeing Co, Intel Corp and JPMorgan Chase & Co are top gainer and increased by 11.00%, 9.68% and 8.94% respectively.

Worst Performers*: Travelers Companies Inc, 3M Co and Exxon Mobil Corp are top laggards and decreased by 1.08%, 0.97% and 0.40% respectively.

European Markets: The London’s broader equity benchmark index FTSE 100 traded at 128.63 points or 2.46% higher at 5,366.11, the FTSE 250 index snapped 155.42 points or 0.99% lower at 15,562.00, and the FTSE All-Share Index ended 52.19 points or 1.77% higher at 2,994.40 respectively. Another European equity benchmark index STOXX 600 ended up by 4.23 points or 1.43 per cent at 299.16.

European News: London stocks slightly rose with retrieval in oil prices. Brent crude was up at $34.46 per barrel, whereas US WTI Crude rose by 4% and stood at $32.77 per barrel. The London’s broader equity benchmark index FTSE 100 surged by around 3% despite having the worst week since 2008 financial crisis. Travel stocks confronting the major hit such as TUI AG (plummeted by 9.5%), Travel group SAGA (dropped by 3.9%) due to travel restrictions in response to the coronavirus. On FTSE mid cap front, Premier Oil shown remarkable improvement and surged 56.1%. Similarly, BP PLC and Royal Dutch Shell PLC grew between 6-7 percent respectively, due to recovery of oil prices. Also, Miners Rio Tinto, BHP group and Anglo American leaped over 6%.

London Stock Exchange

Top Performers*: FINABLR PLC (FIN), PREMIER OIL PLC (PMO) and PHAROS ENERGY PLC (PHAR) are top gainers and increased by 253.56%, 35.13% and 30.91% respectively.

Worst Performers*: CINEWORLD GROUP PLC (CINE), COSTAIN GROUP PLC (COST) and RESTAURANT GROUP PLC (RTN) plunged by 20.36%, 15.64% and 15.49% respectively.

FTSE 100 Index

5 days FTSE 100 Index Performance (March-13-2020), before the market closed (Source: TR)

Top Gainers*: EVRAZ PLC (EVR), GLENCORE PLC (GLEN) and BHP GROUP PLC (BHP) traded in the green zone and leapt up by 14.50%, 13.42% and 13.15% respectively.

Top Slackers*: CARNIVAL PLC (CCL), TUI AG (TUI) and COMPASS GROUP PLC (CPG) were among the beaten-down stocks and plunged by 5%, 4.08% and 3.14% respectively.

Shares with high volume*: (LLOY) LLOYDS BANKING GROUP PLC; (BARC) BARCLAYS PLC; (VOD) VODAFONE GROUP PLC.

Sectors in the positive zone*: Basic Materials (up 11.73%), Energy (up 6.88%), and Telecommunications Services (up 6.28%).

Currency Rates*: GBP/USD and EUR/GBP were trading at 1.2278 and 0.9046, respectively.

Bond Yields*: U.S 10-Year Treasuries yield was hovering at 0.983%, and the UK 10-Year Government Bond yield was trading at 0.416%, respectively.

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*At the time of writing