Key Insights About the Global Market, UK Market and General Election In UK

Global Markets: Benchmark indices of the NYSE traded in green, with the Dow Jones Industrial Average Index traded 36.03 points or 0.13% higher at 28,168.08, the broader S&P 500 index traded 2.53 points or 0.08% higher at 3,171.10, and the technology benchmark index Nasdaq Composite expanded by 26.63 points or 0.31% higher at 8,743.95 (at the time of writing, before the U.S market close at 10:47 AM ET).

Global News: On 13th December 2019, the stocks opened in the green, following clarity on Brexit post the Conservative party victory in the UK. Broadcom stock plunged 1.6 per cent after a poor performance from the company towards the ending of the year. Oracle stock was down by 2.3 per cent after it produced its Quarterly revenue below the expectations of the market. Adobe’s Quarterly earnings came in above the anticipations of the wall street, post which its stock jumped 2.5 per cent. News reports in the US suggested that Liberty media wants to increase its interest in iHeart Media, post which the iHeart Media stock surged by 7.8 per cent. Barclays ADR was up by 8.5 per cent, and Lloyds Banking Group ADR was up by 8.8 per cent, responding to a resounding Conservative party victory in the United Kingdom General elections.

S&P 500 (SPX)

Top Performers*:Â Adobe Inc, Biogen Inc and Simon Property Group Inc are top gainers and increased by 2.89%, 1.80% and 1.20% respectively.

Worst Performers*: Broadcom Inc, HanesBrands Inc, and Incyte Corp are the top three laggards and decreased by 3.25%, 3.03% and 2.11% respectively.

NASDAQ Composite (IXIC)

Top Performers*: China Ceramics Co Ltd, Sarepta Therapeutics Inc, and Lianluo Smart Ltd are top gainers and increased by 78.75%, 26.42% and 21.95% respectively.

Worst Performers*: Aethlon Medical Inc, Aquestive Therapeutics Inc and Sienna Pharmaceuticals Inc are the top three laggards and decreased by 45.00%, 20.60% and 19.39% respectively.

Top Performing Sectors*: Telecommunication Services (up 0.70%), Energy (up 0.09%) and Healthcare (up 0.06%).

Worst Performing Sectors*: Technology (down 0.07%), Industrials (down 0.14%) and Financials (down 0.17%).

Dow Jones Industrial Average (DJI)

Top Performers*: Cisco Systems Inc, Dow Inc, and UnitedHealth Group Inc are top gainers and increased by 0.59%, 0.46% and 0.45% respectively.

Worst Performers*: United Technologies Corp, Nike Inc, and Caterpillar Inc are the top three laggards and decreased by 0.58%, 0.53% and 0.49% respectively.

European Markets: The London’s broader equity benchmark index FTSE 100 traded at 79.97 points or 1.10% higher at 7,353.44, the FTSE 250 index snapped 714.76 points or 3.44% higher at 21,507.79, and the FTSE All-Share Index ended 61.62 points or 1.53% higher at 4,095.03 respectively. Another European equity benchmark index STOXX 600 ended at 412.02, up by 4.44 points or 1.09 per cent.

European News: In economic news, the conservative party of the United Kingdom has won the general elections held in the United Kingdom on 12 December 2019. The party won by a comfortable majority, which gives Prime Minister Boris Johnson enough strength to push through the Draft Brexit deal he had agreed with the European Union which will ensure smooth passing of the event on 31 January 2020.

In Business news, a number of stocks on the London Stock Exchange elated by the news of the conservative party win and rose sharply. Primary of them to have gained more than 10 per cent are Taylor Wimpey Plc (LON: TW) which has gained 14.9 per cent, Barratt Developments Plc (LON: BDEV) gaining 12.0 per cent, Persimmon Plc (LON: PSN) gaining 11.1 per cent, Berkeley Group Holding Plc (LON: BKG) gaining 12 per cent, Bellway Plc (LON: BWY) and Redrow Plc (LON: RDW)Â gaining 10 per cent each in the Housebuilding space. In the banking and financial services space, Royal Bank of Scotland (LON: RBS) gained 11.8 per cent.

London Stock Exchange

Best Performers*: VIRGIN MONEY UK PLC (VMUK), STAGECOACH GROUP PLC (SGC) and TAYLOR WIMPEY PLC (TW.) were on the bright spot for the day and up by 19.78%, 13.46% and 13.41% respectively.

Worst Performers*: INDIVIOR PLC (INDV), POLYMETAL INTERNATIONAL PLC (POLY) and FUTURE PLC (FUTR) are the top three laggards of the day and down by 3.83%, 3.78% and 3.40% respectively.

FTSE 100 Index

5-days Price Performance Chart of FTSE-100 Index (as on December-13-2019), before the market closed. (Source: Thomson Reuters)

Performers*: TAYLOR WIMPEY PLC (TW.), BERKELEY GROUP HOLDINGS (THE) PLC (BKG) and BARRATT DEVELOPMENTS PLC (BDEV) are the top three gainers in today’s session and up by 14.27%, 13.46% and 13.41% respectively.

Laggards*: POLYMETAL INTERNATIONAL PLC (POLY), ROLLS-ROYCE HOLDINGS PLC (RR.), and FRESNILLO PLC (FRES) are top laggards at the FTSE 100 index and down by 3.57%, 2.21% and 1.86% respectively.


Best Performing Sectors*: Utilities (up 6.22%), Consumer Cyclicals (up 3.81%) and Technology (up 3.70%).

Worst Performing Sectors*: Energy (down 0.70%) and Healthcare (down 0.40%).

Currency*: GBP/USD and EUR/GBP were quoting at 1.3340 and 0.8330, respectively.

US & UK 10-Year Bond Yields*: U.S 10-Year Treasuries yield was quoting at 1.826%, and the UK 10-Year Government Bond yield was trading at 0.785%, respectively.


*At the time of writing

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