In Tuesday’s session, stocks in US were trading in green, with Dow Jones Industrial Average was trading at 26,453.72, up by 68.95 points or 0.26 per cent, the S&P 500 Index was trading at 2,909.40 and surged by 3.82 points or 0.13 per cent and the technology benchmark Nasdaq Composite Index was hovering at 8,006.98 and climbed by 30.97 points or 0.39 per cent respectively.
After two straight monthly declines, U.S. manufacturing output remained unchanged in March as the sector was restrained by weak motor vehicle and wood products output. The numbers were below the market expectations of a slight increase. Production at factories dropped at a 1.1 per cent annualised rate in the first quarter, while the outlook for the manufacturing sector remains cloudy.
Coming back to the European market, the broader equity index FTSE 100 closed Tuesday’s session at 7,469.92 and accelerated by 33.05 points or 0.44 per cent as compared with the previous closing price. Also, the FTSE 250 index ended in green at 19,923.38 and surged by 116.29 points or 0.59 per cent. The FTSE All-Share index rose by 18.92 points or 0.47 per cent to 4,092.04 and the STOXX 600 index closed at 389.21 and climbed by 1.11 points or 0.29 per cent from its prior close.
Heiko Maas, Germany's foreign minister, indicated that Germany will now adopt a harder stance on the Brexit issue and warned that there would be no Brexit extension beyond October 31 if the UK does not make progress on agreeing to a Brexit deal.
Performers and Laggards at LSE
Stocks like S&U PLC (SUS), CARD FACTORY PLC (CARD) and JD SPORTS FASHION PLC (JD.) were the major leaders on the LSE and climbed by 10.80 per cent, 9.99 per cent, and 8.38 per cent, respectively. On the other side, stocks like GALLIFORD TRY PLC (GFRD), SPIRE HEALTHCARE GROUP PLC (SPI) and PENDRAGON PLC (PDG) were laggards on the London Stock Exchange and were down by 20.54 per cent, 4.82 per cent and 3.64 per cent respectively.
FTSE 100 Index
5-Day Chart as on 16th April 2019, after the market closed (Source: Thomson Reuters)
Stocks like ST. JAMES'S PLACE PLC (STJ), WPP PLC (WPP) and PRUDENTIAL PLC (PRU) were among the top performers and increased by 2.76 per cent, 2.76 per cent and 2.73 per cent respectively. Top laggards were MONDI PLC (MNDI), SMITH (DS) PLC (SMDS) and CENTRICA PLC (CNA) and decreased by 2.49 per cent, 1.89 per cent and 1.88 per cent respectively. LLOYDS BANKING GROUP PLC (LLOY), VODAFONE GROUP PLC (VOD) and GLENCORE PLC (GLEN) traded with high volumes on the FTSE 100 equity benchmark index.
In Tuesday’s market session, sectors like Financials, Industrials, and Technology were among the top performing sectors on the broader equity benchmark index FTSE 100. And on the other hand, the Utility sector was the only laggard on the broader equity benchmark FTSE 100 index.
- GBP/USD was quoting at 1.3058.
- EUR/GBP was exchanging at 0.8646.
* At the time of writing market commentary
- US 10Y Treasury Bond yield was trading at 2.590%.
- UK 10Y Bond yield was hovering at 1.222%.