Pound Rallies As MPs Offered Vote On Second Referendum

May 22, 2019 08:10 AM AEST | By Team Kalkine Media
 Pound Rallies As MPs Offered Vote On Second Referendum

Global Markets: Equity Indices in the United States were hovering in green, with Dow Jones Industrial Average Index jumped by 165.39 points or 0.64 per cent and quoting at 25,845.29, the S&P 500 Index grew by 25.94 points or 0.91 per cent to 2,866.17 and the Nasdaq Composite, a technology weighted index surged by 94.67 points or 1.23 per cent against the yesterday’s close and trading at 7,797.04 respectively, at the time of writing.

Global News: U.S. Treasury yields and equity market edged higher on Tuesday as the United States has temporarily eased trade restrictions on China's telecommunications equipment maker Huawei Technologies to minimize disruption for its customers. U.S. existing home sales fell 0.4 per cent to a seasonally adjusted annual rate of 5.19 million, declining for a second straight month in April amid weakness in the lower-priced segment.

European Markets: The London’s broader equity benchmark index FTSE 100 traded at 18.04 points or 0.25% higher at 7,328.92, the FTSE 250 index snapped 100.77 points or 0.52% higher at 19,436.36, and the FTSE All-Share Index ended 11.56 points or 0.29% higher at 4,014.44 respectively. European benchmark index STOXX 600 ended 2.04 points or 0.54% higher at 379.50 respectively.

European News: Theresa May (British Prime Minister) during the speech, revealed a new Brexit package which includes a chance to vote on whether to hold another referendum if the lawmakers back her Withdrawal Agreement Bill. Discussion points to be tabled in Parliament in early June will also include new guarantees on the Irish backstop, environmental protections and workers' rights.

London Stock Exchange

Top Risers Stocks: THOMAS COOK GROUP PLC (TCG), GALLIFORD TRY PLC (GFRD), and SAGA PLC (SAGA) rose by 18.83 per cent, 15.38 per cent and 8.41 per cent respectively.

Top Fallers Stocks: ENTERTAINMENT ONE LTD. (ETO), GULF MARINE SERVICES PLC (GMS) and ROYAL MAIL PLC (RMG) declined by 10.95 per cent, 9.39 per cent and 9.23 per cent respectively.

FTSE 100 Index

FTSE100 Index: 5-days Price Chart as on May 21, 2019. (Source: Thomson Reuters)

Top Performers Stocks: SAINSBURY (J) PLC (SBRY), COCA-COLA HBC AG (CCH) and PERSIMMON PLC (PSN) increased by 4.70 per cent, 3.63 per cent and 3.03 per cent respectively.

Top Laggards Stocks: ROLLS-ROYCE HOLDINGS PLC (RR.), IMPERIAL BRANDS PLC (IMB) and PEARSON PLC (PSON) declined by 2.46 per cent, 2.01 per cent and 1.92 per cent respectively.

Top Volume Leaders: LLOYDS BANKING GROUP PLC (LLOY), VODAFONE GROUP PLC (VOD), and BARCLAYS PLC (BARC).

Top Performers Sectors: Technology (+1.58%), Consumer Cyclicals (+0.66%), and Financials (+0.65%).

Top Fallers Sectors: Industrials (-0.17%), Telecommunications Services (-0.16%), and Consumer Non-Cyclicals (-0.15%).

Foreign Exchange and Fixed Income

FX Rates*: GBP/USD and EUR/GBP were exchanging at 1.2704 and 0.8782 respectively.

10-Year Bond Yields*: US 10Y Treasury and UK 10Y Bond yields were trading at 2.432% and 1.074% respectively.

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*At the time of writing


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