Global Markets: Benchmark indices in the United States traded in mix, with the Dow Jones Industrial Average traded marginally lower at 26,765.81, down by 68.14 points or 0.25%, the S&P 500 index surged by 0.97 points or 0.03% to 3,005.49, and the technology benchmark index Nasdaq Composite surged by 47.40 points or 0.58% to 8,167.20 (at the time of writing, before the US market close, 1:30 PM ET).
Global News: On 24th October 2019, Wall Street opened in the green as earnings season has continued. Twitter stock was down 17.9 per cent after weaker advertising and product bugs impacted revenue. 3M Company stock declined by 1.6 per cent following a downgrade in its profit forecasts because of the lower demand in the Asian Region. eBay stock was also down by 7.8 per cent following a downgrade in the full year outlook. American Airlines stock was down by 0.5 per cent after its revenue was short of the market estimates. PayPal stock was up by 8.6 per cent after it upgraded its full year outlook. Tesla stock was up by 17.6 per cent post reporting a surprise profit as well as bringing the model Y crossover to Market.
S&P 500 (SPX)
Top Performers: Align Technology Inc, Varian Medical Systems Inc and Lam Research Corp are top gainers and increased by 12.62%, 9.86% and 9.85% respectively.
Worst Performers: Twitter Inc, Alliance Data Systems Corp and Baxter International Inc are the top three laggards and decreased by 17.25%, 13.26% and 9.06% respectively.
NASDAQ Composite (IXIC)
Top Performers: Pareteum Corp, Cellect Biotechnology Ltd, and Tesla Inc are top gainers and increased by 35.45%, 21.48% and 17.42% respectively.
Worst Performers: Opgen Inc, Netgear Inc and Acorda Therapeutics Inc are the top three laggards and decreased by 53.01%, 16.76% and 13.49% respectively.
Top Performing Sectors: Basic Materials (up 0.97%), Technology (up 0.58%) and Consumer Cyclicals (up 0.52%).
Worst Performing Sectors: Consumer Non-Cyclicals (down 0.21%), Financials (down 0.22%) and Telecommunication services (down 0.53%).
Dow Jones Industrial Average (DJI)
Top Performers: Dow Inc, Visa Inc and Microsoft Corp are top gainers and increased by 4.36%, 1.63% and 1.51% respectively.
Worst Performers: 3M Co, Cisco Systems Inc and Caterpillar Inc are the top three laggards and decreased by 4.39%, 1.11%, and 0.61% respectively.
European Markets: The London’s broader equity benchmark index FTSE 100 traded at 67.51 points or 0.93% higher at 7,328.25, the FTSE 250 index snapped 28.79 points or 0.14% lower at 20,152.15, and the FTSE All-Share Index ended 29.52 points or 0.74% higher at 4,033.51 respectively. Another European equity benchmark index STOXX 600 ended at 397.37, up by 2.34 points or 0.59 per cent.
European News: As investors and Britons awaited the decision by leaders of the European Union who would decide for how long the latest delay to Brexit should be, with signs of a three-month flexible Brexit delay, Downing Street reiterated that the country will ultimately leave the European Union on the terms of deal signed by the British Prime Minister Boris Johnson. Troubles were sprucing up in the bloc as Paris is pushing for a shorter delay while Berlin supports a three-month delay, though the chances of a Christmas election rises with a long delay. The FTSE 100 rose on Thursday along with its European counterparts and was on course for its best weekly gain since early June, as it rose for consecutive sessions and climbed to a near one-month high.
London Stock Exchange*
Top Performers: WOODFORD PATIENT CAPITAL TRUST PLC (WPCT), INTERNATIONAL PERSONAL FINANCE PLC (IPF) and RPS GROUP PLC (RPS) were top gainers and leapt up by 26.19%, 18% and 10.97% respectively.
Worst Performers: THE VITEC GROUP PLC (VTC), ASA INTERNATIONAL GROUP PLC (ASAI) and RESTAURANT GROUP PLC (RTN) were the top three laggards and dipped by 6.48%, 5.67% and 5.22% respectively.
FTSE 100 Index*
5 days share price performance (October-24-2019), before the market closed (Chart sourced from Thomson Reuters)
Top Gainers: M&G PLC (MNG), ASTRAZENECA PLC (AZN) and RELX PLC (REL) were top performers and accelerated by 4.95%, 4.88% and 3.79% respectively.
Top Laggards: ROLLS-ROYCE HOLDINGS PLC (RR), EVRAZ PLC (EVR) and ROYAL BANK OF SCOTLAND GROUP PLC (RBS) were the poor performers and tumbled by 3.94%, 3.15% and 2.40% respectively.
Volume Leaders: (LLOY) LLOYDS BANKING GROUP PLC; (MNG) M&G PLC; (VOD) VODAFONE GROUP PLC.
Best Performing Sectors: Healthcare (up 3.00%), Technology (up 1.55%), and Industrials (up 1.35%).
Worst Performing Sector: Telecommunications Services (down 0.56%).
Forex Rates*: GBP/USD and EUR/GBP were quoting at 1.2841 and 0.8650, respectively.
Bond Yields*: U.S 10-Year Treasuries yield was quoting at 1.750%, and the UK 10-Year Government Bond yield was trading at 0.627%, respectively.
*At the time of writing
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