Global Equity Markets’ Rally in Tuesday’s Trading Session; FTSE 100 up by 1.24%

  • May 26, 2020 BST
  • Team Kalkine
Global Equity Markets’ Rally in Tuesday’s Trading Session; FTSE 100 up by 1.24%

US Markets: Broader indices in the United States traded in green - particularly, the S&P 500 index traded 60.68 points or 2.05 per cent higher at 3,016.13, Dow Jones Industrial Average Index expanded by 666.36 points or 2.72 per cent higher at 25,131.52, and the technology benchmark index Nasdaq Composite traded higher at 9,450.49, up by 125.90 points or 1.35 per cent against its previous day close (at the time of writing, before the U.S market close at 11:00 AM ET).

US News: Wall Street jumped as all 50 states are easing lockdown restrictions along with the revival of activities in other countries as well. Meanwhile, the consumer confidence surged from 85.7 in April to 86.6 in May, as per reading from the Conference Board. Among the gaining stocks, Merck rose around 1.0 per cent as they are set to acquire Themis Bioscience. Similarly, Novavax climbed over 13.5 per cent post enrolling COIVID-19 patients for a vaccine trial. The Oil & Gas stock Chevron Corp and Exxon Mobile surged around 3.8 per cent and 2.9 per cent, respectively, as oil prices moved higher. Evofem Biosciences zoomed up sharply over 20.5 per cent as their birth control gel, Phexxi has been approved by the Food and Drug Administration. Similarly, Macy's jumped about 9.1 per cent post offering USD 1 billion in a bond offering. Among the decliner, Netflix shed around 1.9 per cent as it might lose some subscribers with reopening of economies.

S&P 500 (SPX)

Top Performers*: Norwegian Cruise Line Holdings Ltd, Carnival Corp, and Coty Inc shares increased by 14.46 per cent, 12.59 per cent and 12.27 per cent, respectively.

Non Performers*: Regeneron Pharmaceuticals Inc, DexCom Inc and Netflix Inc shares decreased by 5.36 per cent, 2.71 per cent and 2.58 per cent, respectively.

NASDAQ Composite (IXIC)

Top Performers*: MMTEC Inc, Obalon Therapeutics Inc and Luckin Coffee Inc shares expanded by 108.18 per cent, 51.83 per cent and 50.36 per cent, respectively.

Worst Performers*: Qualigen Therapeutics Inc, BioLine RX Ltd and Centric Brands Inc shares plunged by 35.71 per cent, 30.54 per cent and 23.64 per cent, respectively.

Top Performing Sectors*: Energy (+4.34 per cent), Industrials (+3.53 per cent), and Financials (+3.50 per cent).

Dow Jones Industrial Average (DJI)

Top Performers*: Raytheon Technologies Corp, Dow Inc and Boeing Co shares climbed by around 6.70 per cent, 6.17 per cent and 5.39 per cent, respectively.

European Markets: The London’s broader equity benchmark index FTSE 100 traded at 74.48 points or 1.24 per cent higher at 6,067.76, the FTSE 250 index snapped at 534.56 points or 3.26 per cent higher at 16,933.42, and the FTSE All-Share Index ended 52.54 points or 1.59 per cent higher at 3,354.42, respectively. Another European index STOXX 600 ended up by 3.74 points or 1.08 per cent, at 348.92. Among other major European indices, DAX index closed the session at 11,504.65, up by 113.37 points or 1.00 per cent; CAC 40 index increased by 66.33 points or 1.46 per cent and ended the trading session at 4,606.24.

European News: London and European markets surged today as Prime Minister laid down the reopening plan to resume activities from next month. Meanwhile, the finance minister, Rishi Sunak, stated that the government has awarded over GBP 32 billion to businesses in loans and guarantees to navigate the pandemic. Moreover, the retail sales marginally grew in May as compared to the record low point in April, according to the Confederation of British Industry. Among the gaining stocks, Aston Martin surged around 24.8 per cent with the announcement of a new CEO. Similarly, energy stocks BP and Royal Dutch Shell jumped over 2.9 per cent and 4.3 per cent, respectively, with oil price gain on optimism over demand revival. Yourgene Health gained about 3.1 per cent post launching COVID-19 testing service. Among the decliners, Synairgen shed around 0.98 per cent after releasing its audited FY2019 results. Likewise, Softcat fell around 4.20 per cent post, indicating high uncertainties in the coming months in its Q3 trading update.

London Stock Exchange 

Top Three Performers*: TUI AG (TUI), ASTON MARTIN LAGONDA GLOBAL HOLDING (AML) and SSP GROUP PLC (SSPG) accelerated significantly by 47.02 per cent, 23.29 per cent and 21.61 per cent, respectively. 

Worst Performers*: MARSTON'S PLC (MARS), LAMPRELL PLC (LAM) and SOFTCAT PLC (SCT) plunged by 9.17 per cent, 7.40 per cent and 6.76 per cent, respectively. 

FTSE 100 Index Performance

 3 months FTSE 100 Index Performance (May-26-2020), before the market closed (Source: Refinitiv, Thomson Reuters)

Best Gainers*: INTL CONSOLIDATED AIRLINES GROUP SA (IAG), EASYJET PLC (EZJ) and CARNIVAL PLC (CCL) expanded by 18.87 per cent, 17.98 per cent and 13.44 per cent, respectively.

Non Performers*: WHITBREAD PLC (WTB), HIKMA PHARMACEUTICALS PLC (HIK) and ASTRAZENECA PLC (AZN) traded in red zone and decreased by 5.08 per cent, 3.71 per cent and 3.36 per cent, respectively.

Active Three Stocks (traded with high volume)*:(LLOY) LLOYDS BANKING GROUP PLC; (BARC) BARCLAYS PLC; (VOD) VODAFONE GROUP PLC.

Top Sectors traded in the positive zone*: Consumer Cyclicals (+4.53 per cent), Industrials (+3.29 per cent), and Financials (+2.79 per cent).

Top Sectors traded in the negative zone*: Healthcare (-2.54 per cent) and Telecommunications Services (-1.50 per cent).

Crude Oil Prices*: WTI crude oil (future) price was tilting at $34.16 per barrel, and Brent future crude oil (future) price was nudging at $36.05 per barrel.

Forex Rates*: GBP to USD and EUR to GBP were hovering at 1.2329 and 0.8898, respectively.

Bond Yields*: U.S 10-Year Treasury yield was tilting at 0.700 per cent, and the UK 10-Year Government Bond yield was hovering at 0.218 per cent, respectively. 

 

*At the time of writing

 


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