Johnson Decision To Suspend Parliament Ruled Unlawful

4 min read | September 24, 2019 11:10 PM BST | By Team Kalkine Media

Global Markets*: The Equity benchmark indices in the United States were trading in red (at the time of writing at 05:30 PM GMT), with the Dow Jones Industrial Average Index decreased by 197.85 points or 0.73% to 26,752.14, the broader S&P 500 index lost 29.65 points or 0.99% to 2,962.12, and the technology benchmark index Nasdaq Composite declined significantly against the previous closing level by 127.04 points or 1.57% lower at 7,985.42, respectively.

Global News: On September 24, 2019, US Stocks opened at a high, being lifted by Technology shares, as there was a confirmation from the Treasure secretary Steven Mnuchin that the trade talks with China would resume within two weeks. The broader technology industry stocks rose by 0.79 per cent with Apple Inc. proving to be the biggest gainer. While writing, Apple Inc stock traded at $222.38, 1.67 per cent above the previous close of $218.72. World’s biggest sportswear producer, Nike rose by around 0.3 per cent ahead of its first quarter results. Amongst other stocks that were not doing so well, was the streaming service Netflix Inc. fell 2.1 per cent after a price target cut from an analyst coverage.

S&P 500 (SPX)

Top Performers*: Wynn Resorts Ltd, HanesBrands Inc and Norfolk Southern Corp are the top gainers and increased by 2.54%, 1.92% and 1.80% respectively.

Worst Performers*: Helmerich and Payne Inc, Marathon Oil Corp and Nektar Therapeuticss are the top laggards and decreased by 6.56%, 6.42% and 6.15% respectively.

NASDAQ Composite (IXIC)

Top Performers*: Ovid Therapeutics Inc, NXT-ID Inc and Wheeler Real Estate Investment Trust Inc are top gainers and increased by 24.29%, 22.18% and 18.84% respectively.

Worst Performers*: Pintec Technology Holdings Ltd, electroCore, Inc. and Sienna Biopharmaceuticals Inc are the top three laggards and decreased by 30.70%, 21.05% and 20.97% respectively.

Dow Jones Industrial Average (DJI)

Top Performers*: Walmart Inc, Mcdonald's Corp and Procter & Gamble Co are top gainers and increased by 0.64%, 0.63% and 0.56% respectively.

Worst Performers*: Dow Inc, Goldman Sachs Group Inc and UnitedHealth Group Inc are the top three laggards and decreased by 3.72%, 2.44% and 2.15% respectively.

Top Performing Sector*: Utilities (up 0.63%).

Worst Performing Sectors*: Energy (down 3.62%), Healthcare (down 1.71%) and Technology (down 1.70%).

European Markets: The London’s broader equity benchmark index FTSE 100 traded at 34.65 points or 0.47% lower at 7,291.43, the FTSE 250 index snapped 124.72 points or 0.62% lower at 19,919.07, and the FTSE All-Share Index ended 19.94 points or 0.49% lower at 4,009.84 respectively. Another European equity benchmark index STOXX 600 ended at 389.84, up by 0.04 points or 0.01 per cent.

European News: In a stunning blow for Prime Minister Boris Johnson, the UK Supreme Court ruled on Tuesday that his decision to prorogue parliament in the run-up to Brexit was unlawful, giving lawmakers more time to try to stop him from taking the country out of the EU without an agreement. While the opposition leaders called on Johnson to resign immediately for misleading the Queen, the PM said he disagreed with the judgement and indicated that it would make no difference to his Brexit agenda. While the British gilt yields rose following the decision and sterling gained as much as nearly 0.5 per cent during the day, exporter-heavy FTSE 100 fell to session lows, as British American Tobacco (BATS) and Imperial Brands (IMB) lost more than 1 per cent each.

London Stock Exchange

Top Performers*: PURECIRCLE LD (PURE), TUI AG (TUI) and SDL PLC (SDL) are top gainers and increased by 11.30%, 8.08% and 6.94% respectively.

Worst Performers*: METRO BANK PLC (MTRO), INVESTEC PLC (INVP) and SANNE GROUP PLC (SNN) are the top three laggards and decreased by 29.38%, 6.09% and 5.59% respectively.

FTSE 100 Index

 (Source: Thomson Reuters) Price Performance in Last Five days (September-24-2019), before the market closed

Top Gainers*: TUI AG (TUI), HIKMA PHARMACEUTICALS PLC (HIK) and SAGE GROUP PLC (SGE) are top gainers and increased by 7.72%, 2.77% and 1.66% respectively.

Top Laggards*: EVRAZ PLC (EVR), BURBERRY GROUP PLC (BRBY) and IMPERIAL BRANDS PLC (IMB) are top losers and decreased by 5.17%, 3.57% and 3.53% respectively.

Volume Leaders*: (LLOY) LLOYDS BANKING GROUP PLC; (VOD) VODAFONE GROUP PLC; (BARC) BARCLAYS PLC.

Top Performing Sectors*: Healthcare (up 1.26%), Utilities (up 0.63%) and Consumer Cyclicals (up 0.62%).

Worst Performing Sectors*: Basic Materials (down 1.51%), Energy (down 1.51%) and Financials (down 0.52%).

Currency Rates (at the time of writing) *: GBP/USD was trading at 1.2481 and EUR/GBP was trading at 0.8811.

10-Year Sovereign Bond Yields (at the time of writing) *: US 10Y Treasury was quoting at 1.675% and UK 10Y Bond yields was quoting at 0.543%.Â

*At the time of writing


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