Global Markets: Equity Indices in the United States on the first trading day of this week were firm in green, with the broader index S&P 500 index was up by 19.89 points or 0.69% at 2,893.23, the Dow Jones Industrial Average Index surged by 135.47 points or 0.52% in the today’s session and quoting at 26,119.41, and the technology benchmark index Nasdaq Composite added 103.58 points or 1.34% and trading at 7,845.69, at the time of writing.
Global News: China will make a trade deal with the United States as it is needed by China to boost its economy. The Chinese government had already devalued its currency and the issue needs to be addressed as it will further create tension between the two countries. The Federal Reserve’s policies were criticized by the US President for not decreasing the interest rates.
European Markets: The London’s broader equity benchmark index FTSE 100 traded at 43.60 points or 0.59% higher at 7,375.54, the FTSE 250 index snapped 77.21 points or 0.40% higher at 19,309.60, and the FTSE All-Share Index ended 22.41 points or 0.56% higher at 4,030.56 respectively. European benchmark index STOXX 600 ended 0.79 points or 0.21% higher at 378.27 respectively.
European News: Britain’s rules related to illiquid assets need to be revised in investment funds. As Neil Woodford, a high-profile fund manager based in the UK suspended redemptions in his flagship GBP 3.7 billion of equity fund following a protracted period of underperformance and heavy outflows. Such fund provides the investors with an opportunity to liquidate on a daily basis even if it is invested in illiquid assets. The FCA is bringing new rules on liquidity management, which will apply to all UK based funds.
London Stock Exchange (LSE)
Top Performers Stocks: THOMAS COOK GROUP PLC (TCG), JUST GROUP PLC (JUST), and AMIGO HOLDINGS PLC (AMGO) surged by 17.11 per cent, 10.80 per cent and 10.66 per cent respectively.
Top Laggards Stocks: MJ GLEESON PLC (GLE), WOODFORD PATIENT CAPITAL TRUST PLC (WPCT), and BATM ADVANCED COMMUNICATIONS LD (BVC) decreased by 10.84 per cent, 6.05 per cent and 5.47 per cent respectively.
FTSE 100 Index
FTSE100 Index: 5-days Price Chart as on June 10, 2019. (Source: Thomson Reuters)
Top Risers Stocks: OCADO GROUP PLC (OCDO), ANTOFAGASTA PLC (ANTO) and NMC HEALTH PLC (NMC) rose by 4.67 per cent, 3.65 per cent and 3.09 per cent respectively.
Top Fallers Stocks: FERGUSON PLC (FERG), FRESNILLO PLC (FRES) and NEXT PLC (NXT) reduced by 4.64 per cent, 2.73 per cent and 2.41 per cent respectively.
Top Active Volume Leaders: LLOYDS BANKING GROUP PLC, VODAFONE GROUP PLC, and BARCLAYS PLC.
Top Risers Sectors: Basic Materials (+1.35%), Healthcare (+0.95%), and Technology (+0.95%).
Top Fallers Sectors: Utilities (-0.64%) and Consumer Non-Cyclicals (-0.12%).
Foreign Exchange and Fixed Income
FX Rates*: GBP/USD and EUR/GBP were exchanging at 1.2691 and 0.8918 respectively.
10-Year Bond Yields*: US 10Y Treasury and UK 10Y Bond yields were trading at 2.145% and 0.835% respectively.
*At the time of writing