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US Markets: Broader indices in the United States traded in green - particularly, the S&P 500 index traded 27.83 points or 0.72 per cent higher at 3,909.20, Dow Jones Industrial Average Index surged by 311.50 points or 0.99 per cent higher at 31,848.85, and the technology benchmark index Nasdaq Composite traded higher at 13,507.86, up by 42.66 points or 0.32 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 in the green zone despite ongoing worries regarding a spike in inflation. Among the gaining stocks, MicroStrategy shares jumped by approximately 8.28%, driven by the strong Bitcoin performance. Johnson & Johnson shares jumped by about 0.53% after the Covid-19 vaccine appeared to be safe and effective. Toll Brothers shares jumped by approximately 0.21% after the Company reported better than expected first-quarter results. Among the declining stocks, shares of TJX Companies plunged by about 0.37% after the Company had missed holiday-quarter sales estimates.
US Stocks Performance*
UK Market News: The London markets traded in green after the sterling pound continued its rally against the US dollar and the Euro. FTSE 100 traded higher by around 0.50% despite continuing inflation fears and stronger pound hitting exporters. British Finance Minister Rishi Sunak is prepared to extend the stamp duty holiday by three months till June 2021 end.
Shares of Barratt Developments, Taylor Wimpey and Persimmon surged by around 2.19%, 1.68% and 1.43%, respectively, driven by stamp duty extension reports.
British Consumer Goods giant Reckitt Benckiser Group shares dropped by approximately 1.37%, although the Company had reported a surge in FY20 sales driven by the Covid-19 pandemic. Furthermore, the Company had anticipated sales growth during FY21 as well.
Lloyds Banking Group had reported a 72% slump in annual profits. However, the Company had reinstated dividend payments. Moreover, the shares plunged by around 1.72%.
Covid-19 vaccine provider Omega Diagnostics Group, shares went down by approximately 0.65% after presenting new data regarding their AbC-19 rapid antibody test performance.
Vodafone Group’s subsidiary Vantage Towers had announced that it would be listed on Frankfurt Stock Exchange by the end of March 2021. Meanwhile, the shares went down by around 2.42%.
European Indices Performance (at the time of writing):
FTSE 100 Index One Year Performance (as on 24 February 2021)
1 Year FTSE 100 Chart (Source: EODHD/Others, Thomson Reuters)
Top 3 Volume Stocks in FTSE 100*: Lloyds Banking Group Plc (LLOY); International Consolidated Airlines Group SA (IAG); Barclays Plc (BARC).
Top 3 Sectors traded in green*: Energy (+0.71%), Basic Materials (+0.57%) and Consumer Cyclicals (+0.49%).
Top 3 Sectors traded in red*: Technology (-1.35%), Consumer Non-Cyclicals (-1.17%) and Utilities (-0.73%).
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 $65.87/barrel and $62.98/barrel, respectively.
Gold Price*: Gold price was quoting at US$1,798.20 per ounce, down by 0.43% against the prior day closing.
Currency Rates*: GBP to USD: 1.4102; EUR to GBP: 0.8609.
Bond Yields*: US 10-Year Treasury yield: 1.384%; UK 10-Year Government Bond yield: 0.729%.
*At the time of writing
