Investors Seek Respite From Brexit-Turmoil As Theresa May Resigns

  • May 24, 2019 BST
  • Team Kalkine
Investors Seek Respite From Brexit-Turmoil As Theresa May Resigns
Global Markets: After two consecutive days of fall, equity indices in the U.S were trading in green zone during the Friday’s market session, with the benchmark S&P 500 was quoting at 2,828.88 and added 6.64 points or 0.24% against the previous day close, the Dow Jones Industrial Average was quoting at 102.83 points or 0.40% higher at 25,593.30, and the technology benchmark index Nasdaq Composite index added 20.84 points or 0.27% to 7,649.12 against the yesterday’s closing level, at the time of writing.

Global News: As President Donald Trump said that the protracted trade war with China could soon end, market sentiment was buoyed by the optimistic comments, helping US stocks post gains on Friday. Providing further evidence that manufacturing and the broader economy were slowing, new orders for US-made capital goods fell more than expected in April, declining by 0.9% in April.

European Markets: The London’s broader equity benchmark index FTSE 100 traded at 46.69 points or 0.65% higher at 7,277.73, the FTSE 250 index snapped 96.05 points or 0.51% higher at 19,127.26, and the FTSE All-Share Index ended 24.60 points or 0.62% higher at 3,981.61 respectively. European benchmark index STOXX 600 ended 2.10 points or 0.56% higher at 375.89 respectively.

European News: Current Prime Minister Theresa May, after months of haggling, said she would step down as Conservative Party leader on June 7, paving the way for a contest for new prime minister. Tories would choose the new PM by July-end, who could want a more decisive split. Former foreign minister Boris Johnson is the frontrunner for PM, raising the chances of a confrontation with the European Union. Early on Friday, 10-year yields touched their lowest intra-day level since June 2017, before rising after May’s news, but they remained on track for their lowest weekly close since 2016.

London Stock Exchange (LSE)

Top Performers Stocks: TARSUS GROUP PLC (TRS), BABCOCK INTERNATIONAL GROUP PLC (BAB), and ROYAL MAIL PLC (RMG) surged by 38.14 per cent, 10.39 per cent and 6.42 per cent respectively.

Top Laggards Stocks: PETRA DIAMONDS LIMITED (PDL), KIER GROUP PLC (KIE) and B&M EUROPEAN VALUE RETAIL S.A. (BME) decreased by 8.42 per cent, 6.63 per cent and 4.24 per cent respectively.

FTSE 100 Index

FTSE100 Index: 5-days Price Chart as on May 24, 2019. (Source: Thomson Reuters)

Top Riser Stocks: EVRAZ PLC (EVR), ANTOFAGASTA PLC (ANTO) and HISCOX LTD (HSX) rose by 3.41 per cent, 2.87 per cent and 2.80 per cent respectively.

Top Fallers Stocks: INTERNATIONAL CONSOLIDATED AIRLINES GROUP S.A. (IAG), PADDY POWER BETFAIR PLC (PPB) and ITV PLC (ITV) reduced by 2.17 per cent, 1.83 per cent and 1.23 per cent respectively.

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

Top Sectors: Basic Materials (+1.69%), Utilities (+1.27%), and Telecommunications Services (+1.01%).

Foreign Exchange and Fixed Income

FX Rates*: GBP/USD and EUR/GBP were exchanging at 1.2715 and 0.8817 respectively.

10-Year Bond Yields*: US 10Y Treasury and UK 10Y Bond yields were trading at 2.324% and 0.958% respectively. 

*At the time of writing

FTSE100 Index: 5-days Price Chart as on May 24, 2019. (Source: Thomson Reuters)

Top Riser Stocks: EVRAZ PLC (EVR), ANTOFAGASTA PLC (ANTO) and HISCOX LTD (HSX) rose by 3.41 per cent, 2.87 per cent and 2.80 per cent respectively.

Top Fallers Stocks: INTERNATIONAL CONSOLIDATED AIRLINES GROUP S.A. (IAG), PADDY POWER BETFAIR PLC (PPB) and ITV PLC (ITV) reduced by 2.17 per cent, 1.83 per cent and 1.23 per cent respectively.

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

Top Sectors: Basic Materials (+1.69%), Utilities (+1.27%), and Telecommunications Services (+1.01%).

Foreign Exchange and Fixed Income

FX Rates*: GBP/USD and EUR/GBP were exchanging at 1.2715 and 0.8817 respectively.

10-Year Bond Yields*: US 10Y Treasury and UK 10Y Bond yields were trading at 2.324% and 0.958% respectively. 

*At the time of writing

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