Gold Trading at Record Level, Touches New 7-Year High Level Amid Spread of Coronavirus Beyond China

4 min read | February 21, 2020 10:10 AM AEDT | By Team Kalkine Media

US Markets: Broader indices in the United States traded in red - particularly, the S&P 500 index traded 13.65 points or 0.40% lower at 3,372.50, Dow Jones Industrial Average Index declined by 129.76 points or 0.44% lower at 29,218.27, and the technology benchmark index Nasdaq Composite traded lower at 9,749.08, down by 68.10 points or 0.69% against its previous day close (at the time of writing, before the U.S market close at 3:35 PM ET).

 US News: On 20th February 2020, Wall Street opened in the red, as investor fears around Coronavirus grew massively. Roku shares reported to have gained 0.36 per cent, after the revenue jumped by 49 per cent in Q4 2019 announcement of earnings. Tesla’s stock was down by 1.31 per cent, after the company reported that it might lose out on Q1 2020 revenue after coronavirus outbreak. Canopy growth shares were up by 2.80 per cent, after its EPS in the third quarter was above  the market forecasts and its own predictions. In the cannabis space, the other 2 stocks that were trending were Tilray, which had increased by 3.51 per cent and at the same time Aurora Cannabis was jumped 2.35 per cent. Pinterest stock was up by 2.54 per cent, after news sources reported that Facebook’s new act wasn’t much of a competitor to the company.

S&P 500 (SPX)

Top Performers*: E*TRADE Financial Corp, Pioneer Natural Resources Co., and Diamondback Energy Inc are top gainers and increased by 24.39%, 2.99% and 2.18% respectively.

Worst Performers*: ViacomCBS Inc, Copart Inc and Morgan Stanley are the top three laggards and decreased by 13.40%, 11.23% and 3.91% respectively.

NASDAQ Composite (IXIC)

Top Performers*: Brickell Biotech Inc, Tocagen Inc, and Adesto Technologies Corp are top gainers and increased by 87.36%, 55.70% and 54.57% respectively.

Worst Performers*: Tivity Health Inc., TuanChe ltd, and Aeterna Zentaris Inc are the top three laggards and decreased by 40.03%, 25.81% and 22.06% respectively.

Top Performing Sectors*: Energy (up 0.64%), Financial (Up 0.61%) and Basic Materials (up 0.56%).

Worst Performing Sectors*: Industries (Down 0.10%), Technology (Down 0.08%), Utilities (Down 0.02%)

Dow Jones Industrial Average (DJI)

Top Performers*: Dow Inc, Boeings Co. and Home Depot Inc are top gainers and increased by 0.40%, 0.38% and 0.37% respectively.

Worst Performers*: Pfizer Inc, UnitedHealth Group Inc and Goldman Sachs Group Inc. are top laggards and decreased by 1.90%, 1.31% and 0.72% respectively.

European Markets: The London’s broader equity benchmark index FTSE 100 traded at 20.38 points or 0.27% lower at 7,436.64, the FTSE 250 index snapped at 15.83 points or 0.07% higher at 21,866.69, and the FTSE All-Share Index ended 8.11 points or 0.20% lower at 4,150.19 respectively. Another European equity benchmark index STOXX 600 ended, down by 3.71 points or 0.86 per cent at 430.19.

European News:  In economic news, the office of National statistics today came out with the retail sales growth data for the three months ending period to January 2020 as well as the sales data for the month of January 2020. For the quarterly period, the retail sales in the country had a negative growth of -0.8 per cent while for the month of January only retail sales grew by 0.9 per cent. The largest contributors of this growth in January 2020 were the non-food stores sales sector, followed by the food stores sales sector and the Non-Stores retailing sector. Fuel stores sales sector had a decelerating role to play for both the monthly and quarterly periods as its growth fell by 5.7 per cent quarterly as well as 1.3 per cent quarterly. In trading on the London Stock Exchange, the Lloyds Banking Group today gained 2.5 per cent in share value, despite its profits falling by 26 per cent. The fall in profits was on account of impairment of certain assets by the bank and high compensation payout on PPI’s.

London Stock Exchange

Top Performers*: MONEYSUPERMARKET.COM GROUP PLC (MONY), RENEWI PLC (RWI) and SMITH & NEPHEW PLC (SN.) are top gainers and increased by 14.65%, 10.37% and 8.27% respectively.

Worst Performers*: NORCROS PLC (NXR), INTU PROPERTIES PLC (INTU) and IMPERIAL BRANDS PLC (IMB) are the top three laggards and decreased by 12.03%, 7.81% and 6.52% respectively.

FTSE 100 Index

Five days Price Performance (February-20-2020), before the market closed; Source: Thomson Reuters

Top Gainers*: SMITH & NEPHEW PLC (SN.), NMC HEALTH PLC (NMC) and CENTRICA PLC (CNA) are top gainers at the FTSE 100 index and climbed by 8.32%, 8.12% and 3.50% respectively.

Top Laggards*: IMPERIAL BRANDS PLC (IMB), BURBERRY GROUP PLC (BRBY) and AVEVA GROUP PLC (AVV) are top three laggards in today’s session and reduced by 6.57%, 3.97% and 2.65% respectively.

Volume Leaders*: (LLOY) LLOYDS BANKING GROUP PLC; (GLEN) GLENCORE PLC; (BARC) BARCLAYS PLC.

Sectors in the positive zone*: Basic Materials (up 0.80%), Industrials (up 0.33%), and Telecommunication Services (up 0.32%).

Sectors in the negative zone*: Technology (-0.96%), Consumer Non-cyclicals (-0.76%), and Consumer Cyclicals (-0.36%).

Forex Rates*: GBP/USD and EUR/GBP were quoting at 1.2879 and 0.8377, respectively.

Bond Yields*: U.S 10-Year Treasuries yield was quoting at 1.520%, and the UK 10-Year Government Bond yield was trading at 0.582%, respectively.

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*At the time of writing


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