Suspected Attack On Oil Tankers Sends Oil Prices Soaring

3 min read | June 13, 2019 11:10 PM BST | By Team Kalkine Media

Global Markets: Equity benchmark indices in the United States were trading in green, with the S&P 500 Index added 6.68 points or 0.23 per cent to 2,886.52, the Dow Jones Industrial Average Index surged by 58.93 points or 0.23% in the today’s session and quoting at 26,063.76, and the technology benchmark index Nasdaq Composite increased by 31.23 points or 0.40% and trading at 7,823.95, at the time of writing.

Global News: Oil futures rose on Thursday after suspected attacks on two oil tankers off the coast of Iran, which also stoked fears of a new confrontation between Iran and the United States. As investors regained their demand for risk assets, major stock indexes climbed after falling for two days. Weekly jobless claims surged by 3,000 to 222,000, and import prices fell by the most in five months in May, strengthening the case for the Federal Reserve to cut interest rates this year and sending yields down.

European Markets: The London’s broader equity benchmark index FTSE 100 traded at 0.95 points or 0.01% higher at 7,368.57, the FTSE 250 index snapped 77.69 points or 0.40% lower at 19,172.37, and the FTSE All-Share Index ended 1.96 points or 0.05% lower at 4,022.84 respectively. European benchmark index STOXX 600 ended 0.59 points or 0.16% higher at 380.33 respectively.

European News: In the first round of the contest to replace the Prime Minister Theresa May, Boris Johnson, former Foreign Secretary, won by far the most support from Conservative MPs, surging closer to power on Thursday. Johnson, who has promised to deliver Brexit on October 31, won 114 votes out of 313, while Jeremy Hunt and Michael Gove were the closest rivals. Rise in oil majors due to increasing crude prices and a surge in Ferguson lifted the FTSE 100 on Thursday.

London Stock Exchange (LSE)

Top Performers Stocks: JUST GROUP PLC (JUST), KIER GROUP PLC (KIE), and RENEWI PLC (RWI) surged by 12.69 per cent, 11.43 per cent and 10.77 per cent respectively.

Top Laggards Stocks: CARD FACTORY PLC (CARD), THOMAS COOK GROUP PLC (TCG), and CONTOURGLOBAL PLC (GLO) decreased by 6.64 per cent, 6.63 per cent and 6.51 per cent respectively.

FTSE 100 Index

 FTSE100 Index: 5-days Price Chart as on June 13, 2019. (Source: Thomson Reuters)

Top Risers Stocks: FERGUSON PLC (FERG), SMITH (DS) PLC (SMDS) and SMURFIT KAPPA GROUP PLC (SKG) rose by 5.88 per cent, 5.13 per cent and 4.78 per cent respectively.

Top Fallers Stocks: PERSIMMON PLC (PSN), WPP PLC (WPP) and 3I GROUP PLC (III) reduced by 4.49 per cent, 4.38 per cent and 4.38 per cent respectively.

Top Active Volume Leaders: LLOYDS BANKING GROUP PLC, VODAFONE GROUP PLC, and GLENCORE PLC.

Top Risers Sectors: Basic Materials (+1.63%), Telecommunications Services (+0.04%), and Industrials (+0.01%).

Top Fallers Sectors: Consumer Non-Cyclicals (-0.46%), Utilities (-0.36%) and Technology (-0.18%).

Foreign Exchange and Fixed Income

FX Rates*: GBP/USD and EUR/GBP were exchanging at 1.2685 and 0.8891 respectively.

10-Year Bond Yields*: US 10Y Treasury and UK 10Y Bond yields were trading at 2.093% and 0.835% respectively.

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*At the time of writing


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