Trade Tensions Rattled Global Markets

3 min read | May 13, 2019 11:00 PM BST | By Team Kalkine Media

Global Markets: Shares in the United States started the week in red, with broader index the S&P 500 was quoting 67.28 points or 2.33 per cent lower at 2,814.12, the Dow Jones Industrial Average Index was trading 590.99 points or 2.28 per cent lower at 25,350.55 and the technology benchmark index Nasdaq Composite was down by 252.27 points or 3.19 per cent to 7,663.49 respectively, at the time of writing.

Global News: Global stocks tumbled on Monday with global stocks gauge was set for the worst day of 2019 amid escalating trade tensions between the world's two largest economies. On Monday, China announced that it would impose higher tariffs, ranging from 5% to 25%, on a range of U.S. goods worth $60 billion. Investors piled into safe-haven assets, including U.S. Treasuries and the Japanese yen, and China's yuan reached its weakest level since late December.

European Markets: The London’s broader equity benchmark index FTSE 100 traded at 39.61 points or 0.55% lower at 7,163.68, the FTSE 250 index snapped 239.92 points or 1.24% lower at 19,126.88, and the FTSE All-Share Index ended 26.29 points or 0.67% lower at 3,929.52 respectively. European benchmark index STOXX 600 ended 4.57 points or 1.21% lower at 372.57 respectively.

European News: Senior Conservatives lawmakers want Theresa May to set out her plans this week as pressure increases for her to decide a date for her resignation. According to an opinion poll for European parliamentary election, her party Conservatives have fallen to fifth place with just 10 per cent of the votes.

London Stock Exchange

Top Risers Stocks: COUNTRYWIDE PLC (CWD), 4IMPRINT GROUP PLC (FOUR), and NORCROS PLC (NXR) rose by 4.92 per cent, 4.35 per cent and 3.58 per cent respectively.

Top Fallers Stocks: METRO BANK PLC (MTRO), SIRIUS MINERALS PLC (SXX) and STOBART GROUP (STOB) declined by 10.97 per cent, 10.81 per cent and 10.64 per cent respectively.

FTSE 100 Index

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

Top Performers Stocks: CENTRICA PLC (CNA), NATIONAL GRID PLC (NG.) and COMPASS GROUP PLC (CPG) increased by 3.02 per cent, 1.69 per cent and 1.38 per cent respectively.

Top Laggards Stocks: ITV PLC (ITV), TUI AG (TUI) and VODAFONE GROUP PLC (VOD) declined by 6.33 per cent, 5.65 per cent and 5.19 per cent respectively.

Top Volume Leaders: VODAFONE GROUP PLC (VOD), LLOYDS BANKING GROUP PLC (LLOY) and CENTRICA PLC (CNA).

Top Performers Sectors: Utilities (+1.38%), Energy (+0.52%), and Consumer Non-Cyclicals (+0.31%).

Top Fallers Sectors: Telecommunications Services (-3.91%), Basic Materials (-1.59%) and Technology (-1.52%).

Foreign Exchange and Fixed Income

FX Rates*: GBP/USD and EUR/GBP were exchanging at 1.2964 and 0.8664 respectively.

10-Year Bond Yields*: US 10Y Treasury and UK 10Y Bond yields were trading at 2.402% and 1.092% respectively.

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*At the time of writing


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