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US Markets: Broader indices in the United States traded in green - particularly, the S&P 500 index traded 72.20 points or 2.71% higher at 2,735.88, Dow Jones Industrial Average Index surged by 721.69 points or 3.18% higher at 23,401.68, and the technology benchmark index Nasdaq Composite traded higher at 8,082.04, up by 168.80 points or 2.13% against its previous day close (at the time of writing, before the U.S market close at 12:45 PM ET).
US News: The Wall Street soared again with the expectations of diminishing infection rate in coronavirus cases, while two senior U.S. health officials are predicting the death count to be fewer than the recent projections. Moreover, with the anticipation of a truce between Russia and Saudi Arabia regarding production cut after the scheduled emergency meeting, oil prices slightly increased. Subsequently, Halliburton Co. gained over 6% while Exxon Mobil jumped over 5%, since it has also slashed its planned 2020 spending to USD 23 billion (by 30%) to combat the oil crash and disruption caused by Covid-19. Likewise, the most battered travel stocks such as Royal Caribbean, Norwegian Cruise Line and Carnival Corp rose approximately 20%. Among the other stocks, Southwest Airlines surged over 10% post announcing their June’s schedule. Meanwhile, Macy’s Chief Financial Officer, Paula Price was reported to leave the position on 31st May 2020 amid the trembling financial position due to pandemic. However, following the broader US stock gains, Macy surged over 12% (after losing its value over 60% this year). Starbucks at last check, gained 5.4% post reinvestment of $720 Million by Bill Ackman. In contrast, Zoom Video fell over 8%, followed by concerns regarding privacy and security. On the other hand, the outdoor retailer, REI is set to furlough its 13,000 employees from 15th April 2020. Also, Wingstop unveiled that its sales increased by about 10% in the first quarter, which led its stock to surge over 8%.
S&P 500 (SPX)
Top Performers*: Capri holdings Ltd, Kohls Corp, and Royal Caribbean Cruises Ltd shares increased by 28.58%, 26.29% and 20.80% respectively.
Non Performers*: Activision Blizzard Inc, Gilead Sciences Inc and Marketaxess Holdings Inc shares decreased by 5.02%, 4.90% and 4.64% respectively.
NASDAQ Composite (IXIC)
Top Performers*: Youngevity International Inc, Akers Biosciences Inc, and G-III Apparel Group Ltd shares expanded by 154.17%, 55.65% and 34.72% respectively.
Worst Performers*: SeaChange International Inc, Golar LNG Ltd and Pensare Acquisition Corp shares plunged by 20.11%, 16.39% and 16.02% respectively.
Top Performing Sectors*: Energy (+5.82%), Industrials (+2.99%), and Financials (+2.54%).
Top Non-Performer Sector*: Healthcare (-0.01%).
Dow Jones Industrial Average (DJI)
Top Performers*: Dow Inc, American Express Co and Boeing Co are the top gainers and increased by 9.59%, 7.49% and 5.87%, respectively.
Non Performers*: Pfizer Inc, Walmart Inc and Merck & Co Inc shares decreased by 1.01%, 0.94% and 0.52% respectively.
European Markets: The London’s broader equity benchmark index FTSE 100 traded at 122.06 points or 2.19% higher at 5,704.45, the FTSE 250 index snapped at 756.60 points or 5.11% higher at 15,568.96, FTSE All-Share Index ended 82.43 points or 2.69% higher at 3,141.28, and FTSE AIM All-Share Index closed at 712.36, up by 31.95 points or 4.70%. Another European equity benchmark index STOXX 600 ended up by 6.03 points or 1.88 per cent, at 326.61. Among other major European indices, DAX index closed the session at 10,356.70, up by 281.53 points or 2.79%; CAC 40 index increased by 92.14 points or 2.12% and ended the trading session at 4,438.27.
European News: London and European stocks rallied for a second consecutive day with an early indication of Covid-19 pandemic reached a plateau. Therefore, the stocks of oil, mining and travel got bolstered. Subsequently, Easyjet surged over 24% while Carnival Corp jumped about 23% after revealing a stake of 8.2% by Saudi Arabia’s sovereign wealth fund. Meanwhile, the oil majors – BP and Royal Dutch Shell increased over 3% with hopes of production cut after meeting between Saudi Arabia and Russia. Sadly, the UK Prime Minister Boris Johnson battling Covid-19 in an intensive care unit. On the other hand, as per the Comite Professionel du Petrole (CPDP) data, Petrol and Diesel consumption plunged by 22% and 26% respectively, in March due to confinement measures adopted by the government. Among the stocks, France’s Thales gained around 3.8% as it has secured an additional credit facility of 2 billion euro. Lufthansa surged over 8% as the company is intending to raise liquidity through equity and debt market. Similarly, Cineworld soared over 35% post declaring discussion with lenders for liquidity needs since all its 787 cinemas are shut amid the lockdown state. Meanwhile, the car dealer Inchcape shot up over 7.6% post dividend suspension and 20% pay cut of its senior management and board.
London Stock Exchange
Top Performers*: CINEWORLD GROUP PLC (CINE), BROWN(N.)GROUP PLC (BWNG) and MENZIES(JOHN) PLC (MNZS) are top movers and rose by 48.90%, 40.43% and 35.63%, respectively.
Worst Performers*: ASSURA PLC (AGR), HELIOS TOWERS PLC (HTWS) and LAMPRELL PLC (LAM) plunged by 8.86%, 6.68% and 6.25%, respectively.
FTSE 100 Index
5 days FTSE 100 Index Performance (April-07-2020), before the market closed (Source: TR)
Best Gainers*: CARNIVAL PLC (CCL), EASYJET PLC (EZJ) and ROLLS-ROYCE HOLDINGS PLC (RR.) expanded by 24.66%, 18.25% and 16.93%, respectively.
Non Performers*: OCADO GROUP PLC (OCDO), HIKMA PHARMACEUTICALS PLC (HIK) and ASTRAZENECA PLC (AZN) plunged by 5.76%, 4.98% and 3.02%, respectively.
Shares traded with high-level volume*: (LLOY) LLOYDS BANKING GROUP PLC; (BARC) BARCLAYS PLC; (MRO) MELROSE INDUSTRIES PLC.
Top Sectors traded in the positive zone*: Consumer Cyclicals (+7.00%), Financials (+3.81%) and Industrials (+3.16%).
Top Sector traded in the negative zone*: Healthcare (-1.03%).
Oil Prices*: WTI crude oil future price was nudging at $25.80 per barrel, down by 1.07% and Brent crude oil future price was trading at $32.92 per barrel, down by 0.39%.
Forex Rates*: GBP/USD and EUR/GBP were hovering at 1.2332 and 0.8839, respectively.
Bond Yields*: U.S 10-Year Treasuries yield was tilting at 0.777%, and the UK 10-Year Government Bond yield was hovering at 0.405%, respectively.
*At the time of writing
