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US Markets: Broader indices in the United States traded in green - particularly, the S&P 500 index traded 16.34 points or 0.42 per cent higher at 3,891.78, Dow Jones Industrial Average Index surged by 244.39 points or 0.77 per cent higher at 32,077.13, and the technology benchmark index Nasdaq Composite traded higher at 13,121.80, up by 47.97 points or 0.37 per cent against the previous day close (at the time of writing, before the US market close at 10:30 AM ET).
US Market News: The major indices of Wall Street traded in a green zone after underlying consumer prices remained tepid during February 2021. Among the gaining stocks, Express shares went up by about 20.12% after reporting lower loss than the consensus estimates. Shares of Eli Lilly and Co jumped by about 0.76% after the drugmaker reported encouraging development regarding its Covid-19 antibody therapy. Among the declining stocks, General Electric shares went down by approximately 2.21% after striking a deal to merge GE Capital Aviation Services with AerCap. Levi Strauss shares dropped by approximately 0.21% after its Chairman Stephen Neal had decided to step down on 26 March 2021.
US Stocks Performance*
UK Market News: The London markets traded on a mixed note amid ongoing concerns of inflation. FTSE 100 traded marginally lower by around 0.07% after rising uncertainty regarding long-term interest rates in the bond markets. According to the leading payment card firm, British consumer spending remained around 13.8% lower during February 2021 as compared to February 2020.
FTSE 100-listed Just Eat Takeaway.Com shares jumped by around 3.92% after forecasting encouraging order growth for 2021. The food delivery group had reported a surge of 54% in FY20 revenues.
Postal Services provider Royal Mail shares went up by approximately 2.20% after raising the full-year expectations due to strong trading performance in Advertising, Business and Stamped Mail. Moreover, the restructuring program would target an annual saving of 130 million pounds.
British Clothing Retailer Next had agreed to acquire a 25% stake in the fashion rival Reiss. The Company will make an equity investment of 33 million pounds and a debt investment of 10 million pounds upon completing the deal. Meanwhile, the shares went up by approximately 0.36%.
Broadcaster ITV shares slumped by about 4.99% after Piers Morgan decided to leave TV show “Good Morning Britain”. The Company had already announced the full-year results yesterday.
European Indices Performance (at the time of writing):
FTSE 100 Index One Year Performance (as on 10 March 2021)
1 Year FTSE 100 Chart (Source: Refinitiv, Thomson Reuters)
Top 3 Volume Stocks in FTSE 100*: Vodafone Group Plc (VOD); Lloyds Banking Group Plc (LLOY); Barclays Plc (BARC).
Top 3 Sectors traded in green*: Healthcare (+0.71%), Consumer Non-Cyclicals (+0.60%) and Utilities (+0.39%).
Top 2 Sectors traded in red*: Basic Materials (-1.4%) and Financials (-0.42%).
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 $67.27/barrel and $63.73/barrel, respectively.
Gold Price*: Gold price was quoting at US$1,718.90 per ounce, up by 0.12% against the prior day closing.
Currency Rates*: GBP to USD: 1.3919; EUR to GBP: 0.8564.
Bond Yields*: US 10-Year Treasury yield: 1.511%; UK 10-Year Government Bond yield: 0.707%.
*At the time of writing
