Markets Rise After Confidence Increase Around Geopolitical Tensions

  • Nov 01, 2019 GMT
  • Team Kalkine
Markets Rise After Confidence Increase Around Geopolitical Tensions

Global Markets: Benchmark indices in the United States were trading in green, as the technology benchmark index Nasdaq Composite surged by 73.77 points or 0.89% to 8,366.13, the S&P 500 index expanded by 25.13 points or 0.83% to 3,062.70, and the Dow Jones Industrial Average was trading higher at 27,298.09, up by 251.86 points or 0.93% (before the US market closed, at the time of writing 3:30 PM ET).

Global News: On 1st November 2019, Wall Street opened higher after news that the Chinese Manufacturing sector picked up pace. Chevron stock was down 0.19 per cent in value after profit was reported to be down by 36 per cent in the third quarter. Allergan Plc stock was up 0.18 per cent after announcing a deal with AbbVie worth US $63 billion. Also, at an increase of 2.2 per cent, its cold drinks and iced coffee boosted store sales by 5 per cent globally. Apple was up 2.26 per cent, post expanding its iPad and AirPods sales. Facebook reported earnings significantly higher than previously anticipated, post which its stock continued an upward journey for the second day in a row by 1.81 per cent. Twitter stock was down by 0.37 per cent after Post that the political ads ban which was announced by the company.

S&P 500 (SPX)

Top Performing Sectors: Healthcare (up 1.44%), Consumer Non-Cyclicals (up 0.94%) and Energy (up 0.77%).

Worst Performing Sectors*: All were up at the time of quoting.

S&P 500 (SPX)

Top Performers: Qorvo Inc, Fortinet Inc and Skyworks Solutions Inc are top gainers and increased by 17.78%, 11.62% and 6.27% respectively.

Worst Performers: Arista Networks Inc, Colgate-Palmolive Co and Seagate Technology Plc are the top three laggards and decreased by 26.59%, 2.64% and 2.22% respectively.

NASDAQ Composite (IXIC)

Top Performers*: CHF Solutions Inc, Beigene Ltd, and EI Pollo Loco Holdings Inc are top gainers and increased by 91.30%, 29.63% and 27.45% respectively.

Worst Performers: Casa Systems Inc, MobileIron Inc and CareDx Inc are the top three laggards and decreased by 32.89%, 21.57% and 16.44% respectively.

Dow Jones Industrial Average (DJI)

Top Performers: Dow Inc, Wallgreens Boots Alliance Inc and Caterpillar Inc are top gainers and increased by 2.26%, 2.06% and 1.54% respectively.

Worst Performers: Chevron Corp, Cisco Systems Inc and McDonald’s Corp the top three laggards and decreased by 1.24%, 1.16%, and 0.46% respectively.

European Markets: The London’s broader equity benchmark index FTSE 100 traded at 54.04 points or 0.75% higher at 7,302.42, the FTSE 250 index snapped 137.27 points or 0.69% higher at 20,158.77, and the FTSE All-Share Index ended 29.28 points or 0.73% higher at 4,022.74 respectively. Another European equity benchmark index STOXX 600 ended at 399.43, up by 2.68 points or 0.68 per cent.

European News: Great Britain's central bank has looked ready not to change the interest rates next week, even though there was a weak economic outlook, as the country is waiting for a snap election that may change the scenario surrounding Brexit. The Bank of England, unlike the United States Federal Reserve and the European Central Bank, has decided that it will not cut rates as the trade war between the United States and China caused a global economic slowdown. In the midst of all this, the IHS Markit UK Manufacturing Purchasing Managers Index (PMI) date showed an increase to 49.6 from 48.3 in the month of September, reaching its top level since the month of April and being on the top of all predictions previously predicted by all economists to be around 48.1.

London Stock Exchange*

Top Performers: METRO BANK PLC (MTRO), DISCOVERIE GROUP PLC (DSCV), and IP GROUP PLC (IPO) were top gainers and leapt up by 14.40%, 7.93% and 7.50% respectively.

Worst Performers: XPS PENSIONS GROUP PLC (XPS), LAMPRELL PLC (LAM), and EUROMONEY INSTITUTIONAL INVEST.PLC (ERM) were the top three laggards and dipped by 5.60%, 3.86% and 3.82% respectively.

FTSE 100 Index*

5 days share price performance (November-01-2019), after the market closed (Chart sourced from Thomson Reuters)

Top Gainers: RIO TINTO PLC (RIO), GLENCORE PLC (GLEN) and EVRAZ PLC (EVR) were top performers and accelerated by 3.84%, 3.57% and 3.38% respectively.

Top Laggards: AUTO TRADER GROUP PLC (AUTO), HARGREAVES LANSDOWN PLC (HL.) and CENTRICA PLC (CNA) were the poor performers and tumbled by 3.20%, 1.98% and 1.76% respectively.

Volume Leaders: (LLOY) LLOYDS BANKING GROUP PLC; (BARC) BARCLAYS PLC; (BP) BP PLC.

Best Performing Sectors: Basic Materials (up 2.67%), Energy (up by 1.59%), and Industrials (up by 0.78%).

Worst Performing Sectors: Technology (down 0.63%), Healthcare (down 0.31%), and Utilities (down 0.09%).

Forex Rates*: GBP/USD and EUR/GBP were quoting at 1.2942 and 0.8630, respectively.

Bond Yields*: U.S 10-Year Treasuries yield was quoting at 1.719%, and the UK 10-Year Government Bond yield was trading at 0.655%, respectively.

 

*At the time of writing

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