Stocks Open Mixed Amidst Confusion Around Global Geopolitical Environment

December 11, 2019 11:10 PM GMT | By Team Kalkine Media
 Stocks Open Mixed Amidst Confusion Around Global Geopolitical Environment

Global Markets: Benchmark indices of the NYSE traded in green, with the Dow Jones Industrial Average Index traded 9.28 points or 0.03% higher at 27,891.00, the broader S&P 500 index traded 8.73 points or 0.28% higher at 3,141.25, and the technology benchmark index Nasdaq Composite expanded by 36.62 points or 0.43% higher at 8,652.80 (at the time of writing, before the U.S market close at 3:15 PM ET).

Global News: On 11th December 2019, the stocks opened with a mixed back, with a confusion around trade dispute as conflicting statements were arriving from US and China. Chevron was reported to have declined by around 5 per cent after announcing to take a charge between US $10 – US $11 billion. American Eagle Outfitters had declined by 6.7 per cent after reporting a weak demand for its core brand. Home Depot gave a guidance on its 2020 sales figure between 3 to 4 per cent, which was below the expectations of the market of 4.3 per cent and hence its stock plunged 1.8 per cent. AT&T stock was reported to have gained 0.2 per cent after news sources suggested that the company might be retiring about 100 million shares during Q1 2020. Dropbox stock lost 2.0 per cent after the resignation of the company’s COO Yamini Rangan.

S&P 500 (SPX)

Top Performers*:Â Qorvo Inc, Western Digital Corp and United Rentals Inc are top gainers and increased by 1.62%, 1.52% and 1.52% respectively.

Worst Performers*: Jack Henry & Associates Inc, Dentsply Sirona Inc, and Boeing Co are the top three laggards and decreased by 2.21%, 1.85% and 1.84% respectively.

NASDAQ Composite (IXIC)

Best Performers*: Diffusion Pharmaceuticals Inc, Steel Connect Inc, and Lmp Automotive Holdings Inc were in the bright spot and increased by 35.64%, 19.83% and 18.53% respectively.

Worst Performers*: Correvio Pharma Corp, Iterum Therapeutics Plc and SG Blocks Inc are the top three laggards and decreased by 62.64%, 41.86% and 31.85% respectively.

Top Performing Sectors*: Consumer Non-Cyclicals (up 0.22%), Technology (up 0.19%) and Energy (up 0.17%).

Worst Sectors Performance*: Consumer Cyclicals (- 0.01%) and Utilities (- 0.28%).

Dow Jones Industrial Average (DJI)

Top Performers*: Dow Inc, Walt Disney Co and Johnson & Johnson are top gainers and increased by 0.88%, 0.81% and 0.81% respectively.

Worst Performers*: Boeing Co, Chevron Corp, and Walgreens Boots Alliance are the top three laggards and decreased by 1.84%, 0.75% and 0.45% respectively.

European Markets: The London’s broader equity benchmark index FTSE 100 traded at 2.49 points or 0.04% higher at 7,216.25, the FTSE 250 index plunged by 133.98 points or 0.65% at 20,647.11, and the FTSE All-Share Index dipped by 3.09 points or 0.08% at 4,003.03 respectively. Another European equity benchmark index STOXX 600 ended at 406.22, up by 0.88 points or 0.22 per cent.

European News: In economic news, the consumer sales in the United Kingdom is showing signs of a slowdown. As per research done by market research firm Kantar, all four major supermarket stores in the United Kingdom have shown slow figures ahead of the Christmas season, they however, blame this slowdown on the December 12 general elections with hopes that shopping activity will pick up after that. In other news, the British Economy registered its slowest ever growth on seven years in October of 2019 ahead of the December 2019 general elections on account of political and economic headwinds in United Kingdom. In Business news, 50,000 of customers of Failed Thomas cook have not yet received their refunds even after four months since the global holiday maker went bust. The civil aviation authority which is overseeing the refund process has stated that good progress is being made in the process and the erstwhile customers of the company will receive their money back soon.

London Stock Exchange

Best Performers*: AA PLC (LON: AA.), STAGECOACH GROUP PLC (LON:SGC) and STUDIO RETAIL GROUP PLC (LON:STU) are top active performers of the current day and surged by 14.99%, 8.20% and 7.53% respectively.

Worst Performers*: JD SPORTS FASHION PLC (LON: JD.) RIVERSTONE ENERGY LIMITED (LON:RSE) and WATCHES OF SWITZERLAND GROUP PLC (LON:WOSG) are the top worst performers of the current day and decreased by 9.11%, 7.48% and 6.06% respectively.

FTSE 100 Index

 FTSE 100 Index: Share Price Performance for 5 days (as on 11th December 2019, before the market closed) (Source: Thomson Reuters).

Performers*: FRESNILLO PLC (FRES), ASHTEAD GROUP PLC (AHT) and HIKMA PHARMACEUTICALS PLC (HIK) are the top three gainers in today’s session and up by 3.28%, 1.67% and 1.59% respectively.

Stragglers*: JD SPORTS FASHION PLC (JD.), AUTO TRADER GROUP PLC (AUTO), SEGRO PLC (SGRO) are top laggards at the FTSE 100 index and down by 9.06%, 3.29% and 2.10% respectively.

Active Stocks with high volume*: LLOYDS BANKING GROUP PLC (LLOY); VODAFONE GROUP PLC (VOD); GLENCORE PLC (GLEN).

Top Performing Sectors*: Telecommunications services (+1.15%), Basic Materials (+0.70%), and Healthcare (0.68%).

Worst Performing Sectors*: Technology (-1.12%), Consumer Non-Cyclicals (-0.59%), and Consumer Cyclicals (-0.56%).

 Currency*: GBP/USD and EUR/GBP were quoting at 1.3205 and 0.8436, respectively.

US & UK 10-Year Bond Yields*: U.S 10-Year Treasuries yield was quoting at 1.786%, and the UK 10-Year Government Bond yield was trading at 0.774%, respectively.

 *At the time of writing


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