US-Iran Conflict Dominates The Market

June 24, 2019 06:12 PM BST | By Team Kalkine Media
 US-Iran Conflict Dominates The Market

Global Markets: Equity indices in the United States were trading in mix, with the Dow Jones Industrial Average Index added 8.82 points or 0.03% in the Monday’s session and quoting at 26,727.95, the S&P 500 Index lost 2.60 points or 0.09% and trading at 2,947.87 and the technology benchmark index Nasdaq Composite declined by 13.87 points or 0.17% and quoting at 8,017.83 respectively, at the time of writing.

Global News: Â Further escalating tensions between the United States and Iran, President Donald Trump said on Monday the country would be imposing fresh sanctions on Iran, which will target Iranian Supreme Leader Ayatollah Ali Khamenei. The Federal Reserve was criticised by US president for not undertaking expansionary policy. As investors forecast more than one interest rate cut this year, the dollar fell to three-month lows. Ahead of much-awaited trade talks between the US and China later this week at the G20 summit, global equity markets traded mostly flat on Monday.

European Markets: The London’s broader equity benchmark index FTSE 100 traded at 9.19 points or 0.12% higher at 7,416.69, the FTSE 250 index snapped 24.92 points or 0.13% lower at 19,299.68, and the FTSE All-Share Index ended 2.83 points or 0.07% higher at 4,047.95 respectively. European benchmark index STOXX 600 ended 0.97 points or 0.25% lower at 383.79 respectively.

European News: As traders looked reluctant to take big positions on the pound, the Conservative Party leadership contest concludes to decide the new prime minister, the Sterling hovered off near one-month highs reached earlier on Monday against the dollar but was trading only slightly above 5-month low against the Euro. Jeremy Hunt called rival Boris Johnson coward for avoiding public head-to-head debates on what to do about Brexit after Johnson called down the opportunity for a head-to-head debate on Sky television. Both are vying to become the next prime minister of the country.

London Stock Exchange (LSE)

Top Performers Stocks: NANOCO GROUP PLC (NANO), GULF MARINE SERVICES PLC (GMS), and LOOKERS PLC (LOOK) surged by 11.29 per cent, 10.75 per cent and 7.32 per cent respectively.

Top Laggards Stocks: SUPERDRY PLC (SDRY), ALFA FINANCIAL SOFTWARE HOLDINGS PL (ALFA), and AO WORLD PLC (AO.) decreased by 7.93 per cent, 7.44 per cent and 6.86 per cent respectively.

FTSE 100 Index

 FTSE100 Index: 5-days Price Chart as on June 24, 2019. (Source: Thomson Reuters)

Top Risers Stocks: MICRO FOCUS INTERNATIONAL PLC (MCRO), ADMIRAL GROUP PLC (ADM) and HALMA PLC (HLMA) rose by 3.75 per cent, 3.74 per cent and 3.14 per cent respectively.

Top Fallers Stocks: SAINSBURY(J) PLC (SBRY), BT GROUP PLC (BT.A) and FLUTTER ENTERTAINMENT PLC (FLTR) reduced by 4.01 per cent, 3.25 per cent and 2.97 per cent respectively.

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

Top Risers Sectors: Industrials (+1.21%), Healthcare (+0.92%) and Technology (+0.85%).

Top Fallers Sectors: Telecommunications Services (-1.52%), Financials (-0.47%) and Energy (-0.17%).

Foreign Exchange and Fixed Income

FX Rates*: GBP/USD and EUR/GBP were exchanging at 1.2740 and 0.8944 respectively.

10-Year Bond Yields*: US 10Y Treasury and UK 10Y Bond yields were trading at 2.030% and 0.814% respectively.Â

*At the time of writing


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