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US Markets: Broader indices in the United States traded in green - particularly, the S&P 500 index traded 8.28 points or 0.29 per cent higher at 2,876.72, Dow Jones Industrial Average Index expanded by 39.26 points or 0.16 per cent higher at 23,922.35, and the technology benchmark index Nasdaq Composite traded higher at 8,910.03, up by 100.91 points or 1.15 per cent against its previous day close (at the time of writing, before the U.S market close at 11:10 AM ET).
US News: Wall Street opened higher with optimism over the systematic reopening of US economy. As per the ADP National Employment Report, 20.2 million private-sector jobs loss in April. Among the gaining stocks, Wendys surged over 5 per cent, post reporting a rebound in US same-store sales. General Motors gained around 4 per cent as they intend to reopen its plants on 18th May 2020, while reporting relative better first-quarter results than Ford and Fiat. Similarly, CVS Health rose around 2.8 per cent post reporting a massive jump in first-quarter profit. Among the laggards, Uber shed about 3 per cent, as it plans to lay-off 14 per cent of the workforce. Nordstrom shed over 2 per cent, post the plan of 16 store closure. Similarly, Spirit AeroSystems and United Airlines shed around 2.5 per cent and 2.92 per cent, respectively as they plan to cut slash jobs. Moreover, it is reported that US airlines are burning over USD 10 million in cash every month (according to the trade group Airlines for America).
S&P 500 (SPX)
Top Performers*: FLIR System Inc, KLA Corp, and General Motors Co. shares increased by 11.83 per cent, 7.61 per cent and 6.82 per cent, respectively.
Non Performers*: Arista Networks Inc, Cincinnati Financials Corp and PVH Corp shares decreased by 5.77 per cent, 5.32 per cent and 5.13 per cent, respectively.
NASDAQ Composite (IXIC)
Top Performers*: IZEA Wordwide Inc, MacroGenics Inc and CPS Technologies Corp shares expanded by 106.49 per cent, 86.58 per cent and 53.64 per cent, respectively.
Worst Performers*: My Size Inc, SAExploration Holdings Inc and Wealthbridge Acquisition Ltd shares plunged by 39.74 per cent, 25.88 per cent and 25.51 per cent, respectively.
Top Performing Sectors*: Energy (+2.53 per cent), Technology (+1.78 per cent) and Healthcare (+0.99 per cent).
Top Worst Sectors*: Utilities (-1.32 per cent), Financials (-0.55 per cent), and Basic Materials (-0.39 per cent).
Dow Jones Industrial Average (DJI)
Top Performers*: Intel Corp, Walt Disney Co and Microsoft Corp are the top gainers and increased by 2.52 per cent, 2.45 per cent and 1.70 per cent, respectively.
Non Performers*: Dow Inc, American Express Co and Chevron Corp shares decreased by 2.67 per cent, 1.84 per cent and 1.79 per cent, respectively.
European Markets: The London’s broader equity benchmark index FTSE 100 traded at 4.34 points or 0.07 per cent higher at 5,853.76, the FTSE 250 index snapped at 110.67 points or 0.69 per cent lower at 15,982.47, and the FTSE All-Share Index ended 1.20 points or 0.04 per cent lower at 3,224.70, respectively. Another European index STOXX 600 ended down by 1.16 points or 0.35 per cent, at 334.34. Among other major European indices, DAX index closed the session at 10,606.20, down by 123.26 points or 1.15 per cent; CAC 40 index decreased by 49.75 points or 1.11 per cent and ended the trading session at 4,433.38.
European News: London and European markets showed a mixed response while the blue-chip stocks were surging with the bright healthcare sector. Adjacently, market sentiments were dampened by the tension between the US and China over the Coronavirus infection despite the relief of gradual revival of economic activities. Meanwhile, Britain’s construction activity collapsed to a record low, and the Construction PMI dipped from 39.3 in March to 8.2 in April (as per the data published by the Chartered Institute of Procurement and Supply and HIS Markit). Among the stocks, AstraZeneca grew 2 per cent post receiving approval for its diabetic drug. Direct Line Insurance Group surged over 4 per cent with a 70 per cent slump in motor insurance claims for April. Ocado rose over 4 per cent post reporting around 40 per cent year-on-year rise in first-quarter revenue. Similarly, National Express Group surged over 4 per cent post equity issuance. Among the laggards, Norwegian Air plunged over 9 per cent after announcing its plan to sale its new shares at a 79 per cent discount. Similarly, Aker BP dipped over 5 per cent, following a slash in its full-year guidance.
London Stock Exchange
Top Performers*: HALFORDS GROUP PLC (HFD), HISCOX LD (HSX) and GALLIFORD TRY HOLDINGS PLC (GFRD) accelerated significantly by 22.18 per cent, 9.07 per cent and 8.42 per cent, respectively.
Worst Performers*: HAMMERSON PLC (HMSO), SSP GROUP PLC (SSPG) and WH SMITH PLC (SMWH) plunged by 13.55 per cent, 10.20 per cent and 8.73 per cent, respectively.
FTSE 100 Index Performance
3 months FTSE 100 Index Performance (May-06-2020), before the market closed (Source: EODHD/Others, Thomson Reuters)
Best Gainers*: OCADO GROUP PLC (OCDO), ITV PLC (ITV) and HIKMA PHARMACEUTICALS PLC (HIK) expanded by 5.06 per cent, 4.90 per cent and 4.65 per cent, respectively.
Non Performers*: PEARSON PLC (PSON), CARNIVAL PLC (CCL) and MEGGITT PLC (MGGT) traded in red zone and were down by 5.25 per cent, 4.89 per cent and 4.81 per cent, respectively.
Top Shares traded with high-level volume*: (LLOY) LLOYDS BANKING GROUP PLC; (BARC) BARCLAYS PLC; (BP) BP PLC.
Top Sectors traded in the positive zone*: Healthcare (+2.78 per cent), Technology (+1.21 per cent) and Basic Materials (+0.81 per cent).
Top Sectors traded in the negative zone*: Energy (-2.32 per cent), Utilities (-0.37 per cent), and Consumer Cyclicals (-0.23 per cent).
Oil Prices*: WTI crude oil future price was nudging at $23.48 per barrel, and Brent crude oil future price was trading at $29.23 per barrel.
Forex Rates*: GBP to USD and EUR to GBP were hovering at 1.2363 and 0.8746, respectively.
Bond Yields*: U.S 10-Year Treasuries yield was tilting at 0.724 per cent, and the UK 10-Year Government Bond yield was hovering at 0.236 per cent, respectively.
*At the time of writing.
