How The European Market Behaved In Wednesday’s Session?

  • Jun 12, 2019 BST
  • Team Kalkine
How The European Market Behaved In Wednesday’s Session?

Global Markets: Equity Indices in the United States on the third trading day of this week were firm in red, with the broader index S&P 500 index was down by 5.98 points or 0.21% at 2,879.74, the Dow Jones Industrial Average Index declined by 41.57 points or 0.16% in the today’s session and quoting at 26,006.94, and the technology benchmark index Nasdaq Composite decreased by 33.60 points or 0.43% and trading at 7,788.97, at the time of writing.

Global News: As Washington hardened its stance regarding the US-China dispute, worries of a prolonged trade dispute led to a drop in main indexes on Wednesday. Consumer prices barely rose in May, rising by 0.1 per cent in May, helping to back the case for an interest rate cute. The weak inflation data pulled short-dated yields lower, resulting in a steepened Treasury yield curve.

European Markets: The London’s broader equity benchmark index FTSE 100 traded at 30.83 points or 0.42% lower at 7,367.62, the FTSE 250 index snapped 75.66 points or 0.39% lower at 19,250.06, and the FTSE All-Share Index ended 16.57 points or 0.41% lower at 4,024.80 respectively. European benchmark index STOXX 600 ended 1.15 points or 0.30% lower at 379.74 respectively.

European News: With a commitment to lead the country out of the European Union on Oct. 31, Boris Johnson, the favourite for the top job and one of 10 contenders, officially kicked off his campaign to succeed Prime Minister Theresa May. Boris Johnson claimed that he was not targeting for a no-deal outcome but encouraged to prepare for the same. After Labour announced its intention to introduce parliamentary legislation to prevent Britain leaving the EU without a deal, the pound rose towards a three-week high on Wednesday.

London Stock Exchange (LSE)

Top Performers Stocks: KIER GROUP PLC (KIE), SPORTECH PLC (SPO), and COUNTRYWIDE PLC (CWD) surged by 8.14 per cent, 8.01 per cent and 6.66 per cent respectively.

Top Laggards Stocks: PENDRAGON PLC (PDG), NOSTRUM OIL & GAS PLC (NOG), and THOMAS COOK GROUP PLC (TCG) decreased by 20.87 per cent, 10.00 per cent and 9.52 per cent respectively.

FTSE 100 Index

FTSE100 Index: 5-days Price Chart as on June 12, 2019. (Source: Thomson Reuters)

Top Risers Stocks: RECKITT BENCKISER GROUP PLC (RB.), FERGUSON PLC (FERG) and FRESNILLO PLC (FRES) rose by 4.38 per cent, 2.91 per cent and 2.18 per cent respectively.

Top Fallers Stocks: BRITISH AMERICAN TOBACCO PLC (BATS), BP PLC (BP.) and CRH PLC (CRH) reduced by 4.40 per cent, 2.91 per cent and 2.77 per cent respectively.

Top Active Volume Leaders: VODAFONE GROUP PLC, LLOYDS BANKING GROUP PLC, and Glencore PLC.

Top Risers Sectors: Healthcare (+0.73%), Utilities (+0.32%), and Consumer Non-Cyclicals (+0.28%).

Top Fallers Sectors: Energy (-1.29%), Financials (-0.89%) and Telecommunications Services (-0.43%).

Foreign Exchange and Fixed Income

FX Rates*: GBP/USD and EUR/GBP were exchanging at 1.2692 and 0.8896 respectively.

10-Year Bond Yields*: US 10Y Treasury and UK 10Y Bond yields were trading at 2.122% and 0.868% respectively.

 

*At the time of writing

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