Positive Development On The US-China Dispute Raises FTSE 100 Index

  • Nov 04, 2019 GMT
  • Team Kalkine
Positive Development On The US-China Dispute Raises FTSE 100 Index

Global Markets: Benchmark indices in the United States were trading in green, with the Dow Jones Industrial Average Index traded 106.09 points or 0.39% higher at 27,453.45, the broader S&P 500 index bagged 12.76 points or 0.42% up at 3,079.67 and the technology benchmark index the Nasdaq Composite surged by 50.38 points or 0.60% to 8,436.78, respectively (before the market closed as on 2:10 PM ET).

Global News: On 4th November 2019, the Wall Street opened as a diverse assortment with the earnings season continuing. General Motors stock rose 1.4 per cent post, beating the Wall Street expectations. Boeing stock was down by 0.2 per cent ahead of the company’s testimony before the Senate by CEO Dennis Muilenburg in connection to the two deadly 737 Max crashes. Beyond Meat stock plunged significantly by 18.9 per cent following reporting a surprise profit which was not enough to outweigh the comments that it would need to add discounts to combat competition. Alphabet’s stock dropped by 1.5 per cent post reporting earnings below forecasts. Pfizer stock was up by 3.1 per cent after its income came in above assessments and overhauled its estimates for the entire year. Mastercard stock was up around 1.1 percent after it reported a 11 percent development in its profit.

S&P 500 (SPX)

Top Performers: Cimarex Energy Co, Xilinx Inc and Pioneer Natural Resources Co are top gainers and increased by 5.09%, 4.56% and 3.72% respectively.

Worst Performers: Under Armour Inc and NeWell Brands Inc are the top two laggards and decreased by 15.09% and 14.86% respectively.

NASDAQ Composite (IXIC)

Top Performers: Asta Funding Inc, Enlivex Therapeutics Ltd, and Wright Medical Group NV are top gainers and increased by 40.71%, 31.17% and 29.58% respectively.

Worst Performers: iFresh Inc, Aveo Pharmaceuticals Inc and Ceragon Networks Ltd are the top three laggards and decreased by 77.27%, 30.15% and 24.16% respectively.

Top Performing Sectors: Energy (up 1.86%), Industrials (up 0.76%) and Technology (up 0.72%).

Worst Performing Sector: Utilities (down 0.15%).

Dow Jones Industrial Average (DJI)

Top Performers: Wallgreens Boots Alliance Inc, Chevron Corp and Nike Inc are top gainers and increased by 2.06%, 1.52% and 1.46% respectively.

Worst Performers: McDonald’s Corp, Verizon Communications Inc and Proctor & Gamble Co are the top three laggards and decreased by 2.26%, 0.96%, and 0.07% respectively.

European Markets: The London’s broader equity benchmark index FTSE 100 traded at 67.27 points or 0.92% higher at 7,369.69, the FTSE 250 index snapped 90.95 points or 0.45% higher at 20,249.72, and the FTSE All-Share Index ended 33.16 points or 0.82% higher at 4,055.90 respectively. Another European equity benchmark index STOXX 600 ended at 403.41, up by 3.98 points or 1.0 per cent.

European News: The Resolution Foundation, a think-tank, warned in a report that taxes will have to rise if the two main political parties in the upcoming election make good on their promises, as state spending will head back to levels not seen since the 1970s. Even as the businesses prepare for an uncertain time, the IHS Markit/CIPS construction PMI rose from 43.3 in September to 44.2 in October, suggesting that the British construction activity shrank for the sixth month in a row in October. The pound was holding below the $1.30, benchmark hit nearly two weeks ago as the attention of investors was focused on political developments as election campaigning gets underway, while the FTSE100 joined a global stock rally on Monday, driven by rising hopes of a U.S.-China trade deal.

London Stock Exchange*

Top Performers: SDL PLC (SDL), WOOD GROUP (JOHN) PLC (WG.), and NMC HEALTH PLC (NMC) were top gainers and leapt up by 7.42%, 7.02% and 6.02% respectively.

Worst Performers: GVC HOLDINGS PLC (GVC), WILLIAM HILL PLC (WMH), and 888 HOLDINGS PLC (888) were the top three laggards and dipped by 9.85%, 9.39% and 8.33% respectively.

FTSE 100 Index*

5 days share price performance (November-04-2019), before the market closed (Chart sourced from Thomson Reuters)

Top Gainers: NMC HEALTH PLC (NMC), GLENCORE PLC (GLEN) and RIO TINTO PLC (RIO) were top performers and accelerated by 6.16%, 4.48% and 3.08% respectively.

Top Laggards: FLUTTER ENTERTAINMENT PLC (FLTR), HISCOX LD (HSX) and EVRAZ PLC (EVR) were the poor performers and tumbled by 3.22%, 3.05% and 2.19% respectively.

Volume Leaders: (CNA) CENTRICA PLC; (LLOY) LLOYDS BANKING GROUP PLC; (GLEN) GLENCORE PLC.

Best Performing Sectors: Energy (up by 2.39%), Basic Materials (up 2.30%), and Financials (up by 1.30%).

Forex Rates*: GBP/USD and EUR/GBP were quoting at 1.2877 and 0.8643, respectively.

Bond Yields*: U.S 10-Year Treasuries yield was quoting at 1.788%, and the UK 10-Year Government Bond yield was trading at 0.711%, respectively.

 

*At the time of writing

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