UK and US Equities Inched Lower; Oil Prices Edged Higher by 1%

US Markets: Broader indices in the United States traded in red - particularly, the S&P 500 index traded 52.31 points or 1.25 per cent lower at 4,140.35, Dow Jones Industrial Average Index dipped by 143.42 points or 0.42 per cent lower at 33,969.81, and the technology benchmark index Nasdaq Composite traded lower at 13,536.53, down by 358.59 points or 2.58 per cent against the previous day close (at the time of writing - 12:30 PM ET).

US Market News: The major indices of Wall Street traded in a red zone after economic reopening trade took a hit. Among the gaining stocks, Domtar Corp shares surged by about 17.42% amid media reports that the Company would be taken over by Canada-based Paper Excellence. CVS Health shares jumped by around 2.82% after the Company had reported earnings per share of USD 2.04 for the first quarter. Pfizer shares went up by about 0.36% after the Company had delivered quarterly earnings and revenue more than the expectations. Among the declining stocks, SmileDirectClub shares plunged by about 18.92% after its current quarterly sales got adversely impacted by the April cyberattack.

US Stocks Performance*

UK Market News: The London markets traded in a red zone even after the release of record UK manufacturing PMI. FTSE 100 traded lower by around 0.67% as UK mortgage lending hit a record high during March 2021. The IHS Markit/CIPS manufacturing PMI (“Purchasing Managers Index”) had increased to 60.9 during April 2021, while it was 58.9 in March 2021. Moreover, the number of new mortgage approvals had demonstrated a decline from around 87,000 in February 2021 to approximately 83,000 during March 2021.

WH Smith shares rose by about 0.83% amid media reports that the Company would consider moving its gadget chain InMotion to the airport stores left behind by Dixons Carphone.

British Retailer Frasers Group had announced a share buyback programme worth around 60 million pounds to reduce the share capital. Furthermore, the shares jumped by around 6.69%.

Camellia shares went down by about 1.29% after the Company had reported a slight decline in the revenue during FY20 as compared to FY19.

Shopping centre owner Land Securities Group shares climbed by 2.33% due to bright prospects after the opening of non-essential stores in the UK.

European Indices Performance (at the time of writing):

FTSE 100 Index One Year Performance (as on 4 May 2021)

            1 Year FTSE 100 Chart (Source: Refinitiv, Thomson Reuters)

Top 3 Volume Stocks in FTSE 100*: Lloyds Banking Group Plc (LLOY); Barclays Plc (BARC); BP Plc (BP.).

Top 3 Sectors traded in green*: Real Estate (+1.60%), Energy (+1.18%) and Basic Materials (+0.63%).

Top 3 Sectors traded in red*: Financials (-2.16%), Consumer Cyclicals (-1.66%) and Industrials (-0.82%).

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

 

Crude Oil Future Prices*: Brent future crude oil (future) price and WTI crude oil (future) price were hovering at $68.53/barrel and $65.33/barrel, respectively.

Gold Price*: Gold price was quoting at US$1,777.95 per ounce, down by 0.77% against the prior day closing.

Currency Rates*: GBP to USD: 1.39; EUR to GBP: 0.87.

Bond Yields*: US 10-Year Treasury yield: 1.584%; UK 10-Year Government Bond yield: 0.7945%.

*At the time of writing


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