Global Trade Tensions Forces FTSE 100 Lower

  • May 07, 2019 BST
  • Team Kalkine
Global Trade Tensions Forces FTSE 100 Lower
Global Markets: Equities at the New York Stock Exchange were trading in red, with the S&P 500 Index was quoting lower by 60.93 points or 2.08 per cent at 2,871.54, the Dow Jones Industrial Average Index was down by 555.64 points or 2.10 per cent at 25,882.84 and the technology benchmark Index Nasdaq Composite was trading at 7,920.43, plummeting 202.86 points or 2.50 per cent against the previous day closing price, at the time of writing. Global News: United States President Donald Trump on Sunday threatened to increase tariffs on Chinese imports worth $200 billion from 10 per cent to 25 per cent by the end of this week. Safe-haven demand for U.S. government debt prompted U.S. Treasury yields to fall for a second day. The Federal Reserve said though financial system overall "appears resilient", business debt is at historical levels and stock prices are "elevated". European Markets: The London’s broader equity benchmark index FTSE 100 traded at 120.17 points or 1.63% lower at 7,260.47, the FTSE 250 index snapped 239.48 points or 1.22% lower at 19,465.69, and the FTSE All-Share Index ended 61.65 points or 1.52% lower at 3,985.21 respectively. European benchmark index STOXX 600 ended 5.31 points or 1.37% lower at 381.64 respectively. European News: With low expectations, Britain's government and the opposition Labour Party resumed Brexit discussions to find a way out of parliament deadlock over Brexit agreement, amid bruising results in local polls. Sterling declined due to increasing concerns about mounting challenge to Prime Minister Theresa May’s leadership. London Stock Exchange Top Risers Stocks: VECTURA GROUP PLC (VEC), PETRA DIAMONDS LIMITED (PDL), and THOMAS COOK GROUP PLC (TCG) rose by 12.51 per cent, 6.49 per cent and 6.13 per cent respectively. Top Fallers Stocks: NOSTRUM OIL & GAS PLC (NOG), VICTREX PLC (VCT) and MELROSE INDUSTRIES PLC (MRO) declined by 7.33 per cent, 6.12 per cent and 5.84 per cent respectively. FTSE 100 Index FTSE100 Index: 5-days Price Chart as on May 07, 2019. (Source: Thomson Reuters) Top Performers Stocks: HIKMA PHARMACEUTICALS PLC (HIK), SSE PLC (SSE) and SMITH & NEPHEW PLC (SN.) increased by 1.02 per cent, 0.96 per cent and 0.83 per cent respectively. Top Laggards Stocks: MELROSE INDUSTRIES PLC (MRO), MONDI PLC (MNDI) and ROYAL DUTCH SHELL PLC (RDSB) declined by 5.84 per cent, 3.89 per cent and 3.88 per cent respectively. Top Volume Leaders: Lloyds Banking Group Plc (LLOY), VODAFONE GROUP PLC (VOD) and BP PLC (BP). Top Performing Sector: Utilities (+0.51%). Top 3 Fallers Sectors: Energy (-3.35%), Financials (-2.07%), and Industrials (-1.84%). Foreign Exchange and Fixed Income FX Rates*: GBP/USD and EUR/GBP were exchanging at 1.3068 and 0.8558 respectively. 10-Year Bond Yields*: US 10Y Treasury and UK 10Y Bond yields were trading at 2.451% and 1.155% respectively.   *At the time of writing  

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