Global Markets: U.S benchmark indices traded in mix, with the Dow Jones Industrial Average Index surged 20.89 points or 0.08% against the previous close at 27,702.13, the broader S&P 500 index traded 5.43 points or 0.18% lower to 3,087.65, and the Nasdaq Composite Index snapped 9.67 points or 0.11% lower at 8,465.65 (as on November 11, 2019, before the U.S market close at 2:20 PM ET)
Global News: On 11th November 2019, Wall Street opened in red in the midst of trade tensions re rising between the United States of America and China. Boeing Stock was at a decline of 0.7 per cent after two carriers reported that the company’s 737 Max jets would not be on flight schedule at least until March 2020. Goldman Sachs was under investigation for Gender Discrimination by New York Department of Financial Services and its stocked dipped by 0.8 per cent. Alibaba’s year on year sales growth declined and in lieu of this, its stock fell by 0.6 per cent. Tesla’s price target was raised by two analysts and its stock shot up by 1 per cent. Amazon.com’s Steve Kessel, the brains behind Kindle, is reportedly leaving the company as per news sources, post which, the company’s stock moved downward by 0.3 per cent.
S&P 500 (SPX)*
Top Performers: Walgreens Boots Alliance Inc, Aptiv Plc and D.R. Horton Inc are top gainers and increased by 4.51%, 0.94% and 0.94% respectively.
Worst Performers: Freeport-McMoRan Inc, Marketaxess Holdings Inc and Cabot Oil & Gas Corp are the top three laggards and decreased by 3.30%, 3.14% and 2.90% respectively.
NASDAQ Composite (IXIC)*
Top Performers: Dare Bioscience Inc, Carbonite Inc, and CUI Global Inc are top gainers and increased by 27.57%, 24.51% and 23.96% respectively.
Worst Performers: Lipocine Inc, Asian Pharmaceuticals Ltd and NextCure Inc are the top three laggards and decreased by 73.99%, 56.25% and 52.18% respectively.
Top Performing Sector*: Consumer Non-Cyclicals (up 0.34%).
Worst Performing Sectors*: Telecommunications Services (down 0.66%), Technology (down 0.65%), and Basic Materials (down 0.65%).
Dow Jones Industrial Average (DJI)*
Top Performers: Walgreens Boots Alliance Inc, and Visa Inc are top gainers and increased by 4.68%, and 0.06% respectively.
Worst Performers: Cisco Systems Inc, Boeing Co and 3M Co are the top three laggards and decreased by 1.81%, 1.05% and 0.95% respectively.
European Markets: The London’s broader equity benchmark index FTSE 100 traded at 30.84 points or 0.42% lower at 7,328.54, the FTSE 250 index snapped 52.40 points or 0.26% higher at 20,410.03, and the FTSE All-Share Index ended 12.09 points or 0.30% lower at 4,043.57 respectively. Another European equity benchmark index STOXX 600 ended at 405.34, down by 0.08 points or 0.02 per cent.
European News: Providing a major boost to the chances of Boris Johnson to become the prime minister again, Brexit Party leader Nigel Farage said on Monday that his party would not contest 317 Conservative Party seats in the upcoming election to prevent another EU referendum and make a hung parliament much less likely. The Office for National Statistics reported that the economy expanded by 0.3 per cent in Q3 alone after a 0.2 per cent fall in Q2, as the global slowdown and Brexit worries hit manufacturing and business investment, though it avoided a technical recession. From 1.3 per cent in the April-June period, annual gross domestic product growth fell to 1.0 per cent in the third quarter, indicating that the economy grew at its slowest annual pace in nearly a decade during the three months to September.
On Monday, Geraldine Slattery, President Operations Petroleum of BHP Group (BHP), said that petroleum could potentially generate margins of more than 60% over the next decade and expressed optimism for its growing Petroleum unit, supported by high-potential projects in Trinidad & Tobago, the Gulf of Mexico and Western Australia.
After it was reported that on November 6 flaring occurred while taking one of the units at Pernis oil refinery in the Netherlands for scheduled maintenance, Royal Dutch Shell (RDSA) reported on 8 November that there was a gas leak on Friday on a unit 404,000 barrel per day at the refinery, which was under control now.
In a complaint filed last week, James Ehlers said Ben & Jerry’s breached consumer trust as more than half of the milk came from factory-style, mass-production dairy operations, in contrast to claims made by the Unilever (ULVR) owned brand that the milk and cream it uses to make ice cream came exclusively from happy cows.
London Stock Exchange*
Top Performers: GREGGS PLC (GRG), SIRIUS MINERALS PLC (SXX), and LAMPRELL PLC (LAM) were top gainers and leapt up by 15.75%, 10.26% and 9.55% respectively.
Worst Performers: AMIGO HOLDINGS PLC (AMGO), DIALIGHT PLC (DIA), and EVRAZ PLC (EVR) were the top three laggards and dipped by 7.03%, 6.40% and 6.26% respectively.
FTSE 100 Index*
5 days share price performance (November-11-2019) before the market closed (Chart sourced from Thomson Reuters)
Top Gainers: ROYAL BANK OF SCOTLAND GROUP PLC (RBS), LLOYDS BANKING GROUP PLC (LLOY) and PERSIMMON PLC (PSN) were top performers and accelerated by 4.08%, 3.62% and 3.48% respectively.
Top Laggards: EVRAZ PLC (EVR), NMC HEALTH PLC (NMC) and GLENCORE PLC (GLEN) were the poor performers and tumbled by 6.23%, 3.93% and 3.77% respectively.
Volume Leaders: (LLOY) LLOYDS BANKING GROUP PLC; (GLEN) GLENCORE PLC; (BARC) BARCLAYS PLC.
Best Performing Sectors: Utilities (up by 0.52%) and Technology (up 0.25%).
Worst Performing Sector: Basic Materials (down 2.66%), Healthcare (down 1.48%), and Industrials (down 1.31%).
Forex Rates*: GBP/USD and EUR/GBP were quoting at 1.2852 and 0.8590, respectively.
Bond Yields*: U.S 10-Year Treasuries yield was quoting at 1.945%, and the UK 10-Year Government Bond yield was trading at 0.811%, respectively.
*At the time of writing
With Bank of England reducing the interest rates to a historic low level, the spotlight is back on diverse investment opportunities.
Amidst this, are you getting worried about these falling interest rates and wondering where to put your money?
Well! Team Kalkine has a solution for you. You still can earn a relatively stable income by putting money in the dividend-paying stocks.
We think it is the perfect time when you should start accumulating selective dividend stocks to beat the low-interest rates, while we provide a tailored offering in view of valuable stock opportunities and any dividend cut backs to be considered amid scenarios including a prolonged market meltdown.