Market Shrugs Off Trade Tensions

  • Jun 06, 2019 BST
  • Team Kalkine
Market Shrugs Off Trade Tensions

Global Markets: Shares at the Wallstreet were trading in green, with the broader Index S&P 500 was quoting at 2,839.88 and added 13.73 points or 0.49% in the Thursday’s session, the Dow Jones Industrial Average gained 139.58 points or 0.55% and quoting at 25,679.15 and the technology benchmark index Nasdaq Composite was trading at 7,599.31 and increased by 23.83 points or 0.31% against the previous closing level, at the time of writing.

Global News: US President Donald Trump has said not nearly enough progress is being made in negotiations with Mexico to avoid tariffs even as Mexican and US officials are set to resume talks in Washington on Thursday. The trade deficit unexpectedly fell by 2.1 per cent in April to $50.8 billion as imports of goods dropped to a 15-month low. Though Trump threatened to impose tariffs on Chinese goods worth at least another $300 billion, the stock market moved higher on hopes of a rate cut.

European Markets: The London’s broader equity benchmark index FTSE 100 traded at 39.63 points or 0.55% higher at 7,259.85, the FTSE 250 index snapped 6.65 points or 0.04% lower at 19,065.52, and the FTSE All-Share Index ended 17.45 points or 0.44% higher at 3,970.37 respectively. European benchmark index STOXX 600 ended 0.07 points or 0.02% lower at 374.01 respectively.

European News: In the European Central Bank's latest effort to revive a slowing eurozone economy, the bank again delayed the timing of its first post-crisis interest rate hike. Michael Gove, a leading contender to take PM May's post, said he would not rush into no-deal Brexit and would instead seek further extension, in contrast to many contenders who are prepared to leave the EU on October 31 without an agreement. As investors are hesitant to take positions on the sterling amid leadership contest, the currency remained firmly within recent ranges. Betting that central banks would act to avoid a recession, London's FTSE 100 share index rose on Thursday.

London Stock Exchange (LSE)

Top Performers Stocks: COUNTRYWIDE PLC (CWD), ENTERTAINMENT ONE LTD. (ETO), and GO-AHEAD GROUP PLC (GOG) surged by 16.90 per cent, 15.83 per cent and 10.46 per cent respectively.

Top Laggards Stocks: LOW & BONAR PLC (LWB), JUST GROUP PLC (JUST), and TOPPS TILES PLC (TPT) decreased by 10.00 per cent, 8.99 per cent and 7.89 per cent respectively.

FTSE 100 Index

FTSE100 Index: 5-days Price Chart as on June 06, 2019. (Source: Thomson Reuters)

Top Risers Stocks: IMPERIAL BRANDS PLC (IMB), BRITISH AMERICAN TOBACCO PLC (BATS) and UNITED UTILITIES GROUP PLC (UU.) rose by 5.71 per cent, 3.08 per cent and 2.78 per cent respectively.

Top Fallers Stocks: TAYLOR WIMPEY PLC (TW.), KINGFISHER PLC (KGF) and HARGREAVES LANSDOWN PLC (HL.) reduced by 7.48 per cent, 4.81 per cent and 4.11 per cent respectively.


Top Risers Sectors: Utilities (+1.71%), Energy (+1.34%), and Consumer Non-Cyclicals (+1.12%).

Top Fallers Sectors: Telecommunications Services (-2.50%), Financials (-0.27%) and Consumer Cyclicals (-0.05%).

Foreign Exchange and Fixed Income

FX Rates*: GBP/USD and EUR/GBP were exchanging at 1.2695 and 0.8881 respectively.

10-Year Bond Yields*: US 10Y Treasury and UK 10Y Bond yields were trading at 2.123% and 0.826% respectively. 

*At the time of writing

With Bank of England reducing the interest rates to a historic low level, the spotlight is back on diverse investment opportunities. 

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