How the UK Markets’ performed after rising bond yields; Bitcoin tumbled below $50,000

Source: Copyright © 2021 Kalkine Media Pty Ltd.

US Markets: Broader indices in the United States traded on a mixed note - particularly, the S&P 500 index traded 6.89 points or 0.18 per cent higher at 3,836.23, Dow Jones Industrial Average Index dipped by 260.35 points or 0.83 per cent lower at 31,141.66, and the technology benchmark index Nasdaq Composite traded higher at 13,262.56, up by 143.12 points or 1.09 per cent against the previous day close (at the time of writing, before the US market close at 1:15 PM ET).

US Market News: The major indices of Wall Street traded on a mixed note amid rising bond yields. Among the gaining stocks, Airbnb shares jumped by approximately 4.90%, after the Company reported better than expected gross bookings. Beyond Meat shares went up by about 1.12% after the Company signed an agreement with McDonald’s. Among the declining stocks, Foot Locker shares plunged by approximately 8.97% after quarterly revenue came out to be less than expectations. Shares of DoorDash went down by about 4.09% after the Company reported a heavy loss in the first result since its IPO.  

US Stocks Performance*

 

UK Market News: The London markets traded in a red zone due to bond market selloff.  FTSE 100 traded lower by around 2.53%, as rising bond yields increased the fears of higher interest rates.

Britain’s Pets at Home had raised the annual underlying pre-tax profit guidance for the third time in the last six months. Moreover, the business was boosted by increasing product demands during the Covid-19 pandemic. Meanwhile, the shares jumped by around 5.33%.

British Airways owner International Consolidated Airlines Group had reported a record €7.4 billion loss for 2020. However, the shares went up by about 3.76%.

FTSE 100- listed, Rightmove had reported a drop in the FY20 revenue and profit due to the customers’ discount given during the Covid-19 pandemic. However, it has resumed dividend payments. Moreover, the shares plunged by approximately 5.15% and dropped the most on FTSE-100.

Cryptocurrency Miner Argo Blockchain shares dropped by around 7.44% after it announced the installation of 4,500 Bitmain Antminer S19 and S19 pro-mining machines.

British General Insurance Company RSA Insurance Group reported a 15% growth in the full-year operating profit. However, the shares dropped by approximately 0.25%.

European Indices Performance (at the time of writing):

FTSE 100 Index One Year Performance (as on 26 February 2021)

1 Year FTSE 100 Chart (Source: Refinitiv, Thomson Reuters)

Top 3 Volume Stocks in FTSE 100*: Lloyds Banking Group Plc (LLOY); International Consolidated Airlines Group (IAG); Rolls-Royce Holdings Plc (RR.).

Top 3 Sectors traded in red*: Real Estate (-3.25%), Energy (-3.09%) and Basic Materials (-2.93%).

London Stock Exchange: Stocks Performance (at the time of writing)

Crude Oil Future Prices*: Brent future crude oil (future) price and WTI crude oil (future) price were hovering at $64.85/barrel and $61.97/barrel, respectively.

Gold Price*: Gold price was quoting at US$1,725.55 per ounce, down by 2.81% against the prior day closing.

Currency Rates*: GBP to USD: 1.3943; EUR to GBP: 0.8664.

Bond Yields*: US 10-Year Treasury yield: 1.462%; UK 10-Year Government Bond yield: 0.820%.

 

*At the time of writing

 

 


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