Saga Accelerated by 31.96% at Close of Trade

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Saga Accelerated by 31.96% at Close of Trade

 Saga Accelerated by 31.96% at Close of Trade

US Markets: Broader indices in the United States traded in green - particularly, the S&P 500 index traded 11.89 points or 0.34 per cent higher at 3,512.20, Dow Jones Industrial Average Index expanded by 91.51 points or 0.32 per cent higher at 28,521.56, and the technology benchmark index Nasdaq Composite traded higher at 11,895.28, up by 119.83 points or 1.02 per cent against the previous day close (at the time of writing, before the US market close at 12:05 PM ET).

US Market News: The US market traded in the green as the ISM Manufacturing PMI in the US was 56.0 in August 2020 that was above expected PMI of 54.5. Meanwhile, the US Construction Spending was down by 0.1 percent month on month in July 2020. Among the gaining stocks, Zoom Video’s shares surged by around 39.8 percent after the company reported quarterly earnings better than the estimates and increased its annual revenue forecast. Liberty Oilfield was up by close to 28.5 percent after the announcement of the merger of Schlumberger’s North American fracking business with Liberty Oilfield. Walmart’s shares were up by close to 3.3 percent after the company announced it would launch Walmart+, a membership programme. Among the decliners, Tesla was down by around 4.4 percent after the company is expected to raise USD 5 billion through a stock offering. Delta Air Lines was down by nearly 0.3 percent after the company removed the ticket change fees.

US Stocks Performance (at the time of writing)

European News: The London market traded in the red as the Manufacturing PMI in the UK was 55.2 in July 2020 that was below expected PMI of 55.3. The European market traded in the red as the Core CPI increased by 0.4 percent year on year in August 2020 against an expected increase of 0.8 percent. Meanwhile, the Mortgage Lending in the UK in July 2020 was £2.70 billion. Among the gaining stocks, Dunelm shares were up by close to 5.2 percent after the company reported improved sales in the last two months. Univision Engineering was up by around 1.5 percent after the company announced a new contract win. Among the decliners, Vodafone was down by close to 3.3 percent after it announced the sale of a stake in Indus Towers to Bharti Infratel. AstraZeneca shares were down by about 1.7 percent although the company reported that it got approval for Imfinzi in Europe for treatment of small cell lung cancer. SSE was down by close to 1.4 percent after the company announced it would sell 25.1 percent stake in Walney Offshore Wind Farm to Greencoat UK Wind PLC. Coca Cola was down by about 1.2 percent after the company reported the issue of new shares on the exercise of the options.

European Indices Performance (at the time of writing)

FTSE 100 Index Chart

1 Year FTSE 100 Index Performance (1 September 2020), before the market closed (Source: Refinitiv, Thomson Reuters)

Stocks traded with decent volume*: (LLOY) LLOYDS BANKING GROUP PLC; (VOD) VODAFONE GROUP PLC; (BT.A) BT GROUP PLC.

Sectors traded in the positive zone*: Basic Materials (+0.68%) and Technology (+0.01%).

Sectors traded in the negative zone*: Telecommunications Services (-3.28%), Financials (-2.41%) and Industrials (-2.00%).

London Stock Exchange: Stocks Performance (at the time of writing)

Crude Oil Future Prices*: WTI crude oil (future) price and Brent future crude oil (future) price were hovering at $42.78 per barrel and $45.61 per barrel, respectively.

Gold Price*: Gold price was trading at USD 1,973.70 per ounce, down by 0.25% from previous day closing.

Currency Rates*: GBP to USD and EUR to GBP were hovering at 1.3377 and 0.8901, respectively.

Bond Yields*: U.S 10-Year Treasury yield and UK 10-Year Government Bond yield were trading at 0.674 per cent and 0.299 per cent, respectively.

*At the time of writing

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