US-China Meet Weigh On Investors’ Mind

3 min read | June 27, 2019 06:16 PM BST | By Team Kalkine Media

Global Markets: Shares at the Wall Street were zooming in green, with the broader index S&P 500 was trading at 2,928.08 and added 14.30 points or 0.49%, the Dow Jones Industrial Average Index added 49.07 points or 0.18% and quoting at 26,585.89 and the technology benchmark index Nasdaq Composite added 63.30 points or 0.80% against the yesterday’s close and quoting at 7,973.27, at the time of writing.

Global News: The US government confirmed that first-quarter GDP growth was 3.1 per cent, while weekly jobless claims increased by 10,000 to 227,000. Ahead of President Donald Trump and Chinese President Xi Jinping meet this weekend, government economic adviser Larry Kudlow said on Thursday that there are no preconditions set ahead of any trade talks with China. Demand for safe-haven debt rose as investors were worried that meeting between the US and China might be more complicated than previously expected, leading to a fall in Treasury yields on Thursday.

European Markets: The London’s broader equity benchmark index FTSE 100 traded at 14.06 points or 0.19% lower at 7,402.33, the FTSE 250 index snapped 54.07 points or 0.28% higher at 19,314.46, and the FTSE All-Share Index ended 4.33 points or 0.11% lower at 4,041.72 respectively. European benchmark index STOXX 600 ended 0.01 points or 0.00% higher at 382.21 respectively.

European News: Amid conflicting reports on whether the US and China would commit to a trade truce, FTSE 100 closed lower on Thursday as welcomed signs of progress in the trade talks gave way to uncertainty. The parliament will try cut off some of the funding of the government next week to block a new prime minister from taking the country out of the EU without an agreement and approval of the parliament. Japan on Thursday cautioned that investment by the country could end after 35 years if a no-deal Brexit happens.

London Stock Exchange (LSE)

Top Performers Stocks: NANOCO GROUP PLC (NANO), JUST GROUP PLC (JUST), and SAGA PLC (SAGA) surged by 8.68 per cent, 8.27 per cent and 7.48 per cent respectively.

Top Laggards Stocks: XPS PENSIONS GROUP PLC (XPS), SENIOR PLC (SNR), and PLUS500 LTD (PLUS) decreased by 40.62 per cent, 10.31 per cent and 7.65 per cent respectively.

FTSE 100 Index

FTSE100 Index: 5-days Price Chart as on June 27, 2019. (Source: Thomson Reuters)

Top Risers Stocks: KINGFISHER PLC (KGF), OCADO GROUP PLC (OCDO) and TUI AG (TUI) rose by 4.13 per cent, 2.60 per cent and 2.36 per cent respectively.

Top Fallers Stocks: GLENCORE PLC (GLEN), RIGHTMOVE PLC (RMV) and AUTO TRADER GROUP PLC (AUTO) reduced by 4.87 per cent, 3.39 per cent and 3.18 per cent respectively.

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

Top Risers Sectors: Telecommunications Services (+1.75%) and Consumer Cyclicals (+0.51%) and Financials (+0.32%).

Top Fallers Sectors: Energy (-1.25%), Technology (-0.79%) and Consumer Non-Cyclicals (-0.44%).

Foreign Exchange and Fixed Income

FX Rates*: GBP/USD and EUR/GBP were exchanging at 1.2677 and 0.8968 respectively.

10-Year Bond Yields*: US 10Y Treasury and UK 10Y Bond yields were trading at 2.011% and 0.822% respectively.Â

*At the time of writing


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