PM To Face Lawmaker’s Ire As Parliament Reconvenes

September 25, 2019 11:40 PM BST | By Team Kalkine Media
 PM To Face Lawmaker’s Ire As Parliament Reconvenes

Global Markets*: The Equity benchmark indices in the United States were trading in mix (at the time of writing at 03:36 PM GMT), with the Dow Jones Industrial Average Index added 128.85 points or 0.48% to 26,936.64, the broader S&P 500 index bagged 5.00 points or 0.21% to 2,972.19, and the technology benchmark index Nasdaq Composite declined marginally against the previous closing level and trading at 7,990.42, respectively.

Global News: On September 25, 2019, in the midst of Political uncertainty around beginning of President Trump’s impeachment hearing, US Stocks opened at a marginal low compared to yesterday’s closing. Pharma stocks were in the highlights with PhaseBio Pharmaceuticals, Inc. showing a jump of 19.18 per cent, trading at US $4.66, compared to the previous close at US $3.91. Following the suite, was another Pharma stock, Achillion Pharmaceuticals Inc., which was up 12.84 per cent to US $4.068, compared to the previous day’s closing price at US $3.61 per share. Albeit, a biotech stock that opened as a top loser was electroCore Inc., which opened 14.88 per cent below the previous day’s closing price of US $3.36 at US $2.86.

S&P 500 (SPX)*

Top Performers: Cintas Corp, Nike Inc and Marathon Petroleum Corp are top gainers and increased by 5.64%, 5.49% and 5.35% respectively.

Worst Performers: Broadcom Inc, Advanced Micro Devices Inc and Monster Beverage Corp are the top three laggards and decreased by 3.89%, 2.98% and 2.74% respectively.

NASDAQ Composite (IXIC)*

Top Performers:Â PhaseBio Pharmaceuticals Inc, Achillion Pharmaceuticals Inc and Senmiao Technology Ltd are top gainers and increased by 17.39%, 16.78% and 14.77% respectively.

Worst Performers: Titan Medical Inc, AzurRX BioPharma Inc and Vaxart Inc are the top three laggards and decreased by 28.64%, 26.95% and 16.60% respectively.

Top Performing Sectors: Industrials (up 0.21%), Financials (up 0.08%).

Worst Performing Sectors: Utilities (down 0.08%), Consumers Non-Cyclicals (down 0.14%) and Telecommunication services (down 0.26%).

Dow Jones Industrial Average (DJI)*

Top Performers: Nike Inc, Boeing Co and Wallgreens Boots Alliance Inc are top gainers and increased by 5.28%, 0.74% and 0.62% respectively.

Worst Performers: Visa Inc, American Express Co and Microsoft Corp are the top three laggards and decreased by 0.91%, 0.74% and 0.69% respectively.

European Markets: The London’s broader equity benchmark index FTSE 100 traded at 1.44 points or 0.02% lower at 7,289.99, the FTSE 250 index snapped 144.15 points or 0.72% lower at 19,774.92, and the FTSE All-Share Index ended 6.24 points or 0.16% lower at 4,003.60 respectively. Another European equity benchmark index STOXX 600 ended at 387.59, down by 2.25 points or 0.58 per cent.

European News*: After the Supreme Court ruled on Tuesday against Prime Minister Boris Johnson, the parliament reconvened on Wednesday and the PM, who had to cut short a visit to New York, will face lawmakers as calls for his resignation grows within the opposition bench. Financial professionals based in Britain warned that if the country does not apply EU equivalence system that would come into force after Brexit, the position of London as a financial gateway into the European Union could be in jeopardy. The Confederation of British Industry said on Wednesday that the British retail sales fell for a fifth straight month in September, rising to -16 in September from a 10-year low of -49 in August. The pound hit a two-week low during the trading session on Wednesday as it extended its decline against the dollar amid Brexit Uncertainties. As domestic political worries rose and there were calls for impeachment in the US, the FTSE 100 faced its biggest fall in a month, before getting support from the declining pound.

London Stock Exchange*

Top Performers: CARD FACTORY PLC (CARD), BABCOCK INTERNATIONAL GROUP PLC (BAB) and MERIAN CHRYSALIS INVESTMENT COMPANY (MERI) are top gainers and increased by 7.06%, 5.62% and 4.24% respectively.

Worst Performers: AIRTEL AFRICA PLC (AAF), IP GROUP PLC (IPO) and FUNDING CIRCLE HOLDINGS PLC (FCH) are the top three laggards and decreased by 6.54%, 6.03% and 5.97% respectively.

FTSE 100 Index*

 (Source: Thomson Reuters) Price Performance in Last Five days (September-25-2019), before the market closed

Top Gainers: BRITISH AMERICAN TOBACCO PLC (BATS), IMPERIAL BRANDS PLC (IMB) and SAINSBURY(J) PLC (SBRY) are top gainers and increased by 2.51%, 2.23% and 2.16% respectively.

Top Laggards: TUI AG (TUI), AVEVA GROUP PLC (AVV) and MELROSE INDUSTRIES PLC (MRO) are top losers and decreased by 4.44%, 3.72% and 3.58% respectively.

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

Top Performing Sector: Consumer Non- Cyclicals (up 0.16%).

Worst Performing Sectors: Technology (down 1.83%), Consumer Cyclicals (down 1.43%) and Industrials (down 1.10%).

Currency Exchange Rates*: GBP/USD and EUR/GBP were quoting at 1.2361 and 0.8865.

US and UK 10-Year Bond Yields*: The US 10-year and the UK 10-year Bond yields were quoting at 1.666% and 0.513% respectively.

*At the time of writing.


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