Quick Glance At The US & UK Market Update in Monday’s Session

  • Dec 09, 2019 GMT
  • Team Kalkine
Quick Glance At The US & UK Market Update in Monday’s Session

Global Markets: Broader indexes in the United States were trading in red, with the S&P 500 index traded 6.30 points or 0.20% lower at 3,139.61, Dow Jones Industrial Average Index contracted by 77.72 points or 0.28% and quoting at 27,937.34 and the technology benchmark index Nasdaq Composite traded lower at 8,636.76 and was down by 19.77 points or 0.23% against its previous day close (at the time of writing, before the U.S market close at ET 2:40 PM). 

Global News: On 9th December 2019, Wall Street broader indexes opened lower, post tariff deadline looms. As planned tariffs on Chinese imports will kick in on 15th December, the investors will have a close look on the US-China trade relations proceedings. Market participants are hoping for a further delay, with a more optimistic tone from both ends. Also, the Federal Open Market Committee's two-day policy meeting will commence on Tuesday. During the Monday’s trading session, 3M Co stock contracted by 0.7 per cent, post the rating cut by the Citigroup. Bank of America upgraded shares of Qorvo Inc and Skyworks Solutions Inc (both Apple suppliers). After the news, shares of both companies zoomed by 2 per cent each during the day. The drug maker, Merck & Co stated that it would acquire the ArQule Inc, cancer drug developer for $2.7 billion in cash. Shares of Merck & Co dipped by 0.2 per cent after the news released.

S&P 500 (SPX)

Top Performers*: Fortive Corp, Freeport-McMoRan Inc and Skyworks Solutions Inc are top gainers and increased by 2.76%, 2.75% and 2.72% respectively.

Worst Performers*: Seagate Technology Plc, Western Digital Corp, and Take-Two Interactive Software Inc are the top three laggards and decreased by 3.10%, 2.61% and 2.58% respectively.

NASDAQ Composite (IXIC)

Top Performers*: Synthorx Inc, ArQule Inc, and XBiotech Inc are top gainers and increased by 169.28%, 102.95% and 87.14% respectively.

Worst Performers*: Biocept Inc, Onconova Therapeutics Inc and Mustang Bio Inc are the top three laggards and decreased by 53.70%, 11.43% and 8.31% respectively.

Top Performing Sectors*: Healthcare (up 0.50%), Consumer Cyclicals (up 0.43%) and Technology (up 0.33%).

Worst Performing Sectors*: Telecommunication Services (down 0.01%), Industrials (down 0.10%) and Financials (down 0.12%).

Dow Jones Industrial Average (DJI)

Top Performers*: Cisco Systems Inc, International Business Machines Corporation, Home Depot Inc are top gainers and increased by 0.98%, 0.74% and 0.69% respectively.

Worst Performers*: 3M Co, Chevron Corp and Boeing Co are the top three laggards and decreased by 0.97%, 0.85%, and 0.73% respectively.

European Markets: The London’s broader equity benchmark index FTSE 100 traded at 5.76 points or 0.08% lower at 7,233.90, the FTSE 250 index snapped 10.39 points or 0.05% lower at 20,922.64, and the FTSE All-Share Index ended 2.88 points or 0.07% lower at 4,020.33 respectively. Another European equity benchmark index STOXX 600 ended at 406.39, down by 0.96 points or 0.24 per cent.

European News: British currency (GBP) edging higher and up by 0.13% to 1.3152 against the US dollar, after several media houses forecasted that PM Johnson-led Conservatives would return back to the House of Commons with an absolute majority. It is widely forecasted that it will help to resolve Brexit impasses, which is long hovering over the British economy and impacting the growth catalyst.

On the company specific, shares of Tullow Oil Plc plunged 100 points or 71% to GBX 41.20, as oil and gas explorer was forced to cut its production outlook and announce its chief executive and head of the exploration both left the company. Losses were observed mainly in the Travel & Leisure, Automobiles & Parts, Forestry & Paper sectors which propelled shares in the downward spiral. Shares which were in the bright spot during the Monday’s trading session were - Tesco Plc, rose by 4.65 per cent, Marks and Spencer Group Plc added 3.53 per cent and Aviva Plc stock accelerated by 1.63 per cent. Shares which were beaten down were - Phoenix Group Holdings Plc, down by 3.66 per cent, Rentokil Initial Plc plunged by 2.41 per cent and Tui AG dipped by 2.06 per cent.

London Stock Exchange (LSE)

Top Performers*: AMIGO HOLDINGS PLC (AMGO), CENTAMIN PLC (CEY) and VP PLC (VP.) are top performers of the day and up by 12.54%, 7.09% and 5.81% respectively.

Worst Performers*: TULLOW OIL PLC (TLW), ASTON MARTIN LAGONDA GLOBAL HOLDING (AML) and LAMPRELL PLC (LAM) are the top three laggards of the day and down by 69.26%, 8.48% and 6.33% respectively.

FTSE 100 Index

FTSE 100 Index Chart: 5-days Price Performance (as on December-09-2019), before the market closed. (Source: Thomson Reuters)

Performers*: TESCO PLC (TSCO), ROYAL BANK OF SCOTLAND GROUP PLC (RBS) and LLOYDS BANKING GROUP PLC (LLOY) are the top three gainers in today’s session and up by 4.65%, 1.67% and 1.61% respectively.

Laggards*: PHOENIX GROUP HOLDINGS PLC (PHNX), RENTOKIL INITIAL PLC (RTO), and MELROSE INDUSTRIES PLC (MRO) are top laggards at the FTSE 100 index and down by 3.56%, 2.11% and 1.94% respectively.


Top Performing Sectors*: Basic Materials (+0.64%), Financials (+0.37%) and Consumer Non-Cyclicals (+0.16%)

Worst Performing Sectors*: Industrials (-0.55%), Telecommunications Services (-0.53%), and Technology (-0.38%).

Forex Rates*: GBP/USD and EUR/GBP were quoting at 1.3149 and 0.8415, respectively.

Bond Yields*: U.S 10-Year Treasuries yield was quoting at 1.831%, and the UK 10-Year Government Bond yield was trading at 0.771%, respectively. 

*At the time of writing

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