US & UK Market Update in Monday’s Trading Session

  • Jan 06, 2020 GMT
  • Team Kalkine
US & UK Market Update in Monday’s Trading Session

US Markets: Broader indexes in the United States were trading in red, with the S&P 500 index traded 4.05 points or 0.13% lower at 3,230.80, Dow Jones Industrial Average Index plunged by 114.83 points or 0.40% and quoting at 28,520.05 and the technology benchmark index Nasdaq Composite traded lower at 9,015.94 and was down by 4.83 points or 0.05% against its previous day close (at the time of writing, before the U.S market close at ET 10:35 AM).

US News: On 6th January 2020, Wall Street opened lower, amidst the escalation of tensions in Middle East, after US Drone Airstrike in Baghdad on Thursday night, the Capital of Iraq, killed Major General Qassem Soleimani, chief of the elite Quds Force who was also one of Iran’s most influential figures. Energy and Power stocks were in the limelight after this news as Chevron stock was down by 0.35 per cent while Exxon Mobil stock was down by 0.80 per cent. In the wake of this news, defence stocks were skyrocketing, led by Lockheed Martin, who’s stock jumped 3.60 per cent, while Industry peers such as the likes of Northrop Grumman was up by 5.48 per cent and Raytheon was up by 1.48 per cent. Apple shares also fell by 0.97 per cent after an analyst downgraded the rating on the stock from ‘Strong Buy’ to ‘Buy’. Boeing stock was down by 1.2 per cent after news sources reporting that the company was considering raising additional debt.

S&P 500 (SPX)

Top Performers*: Nordstrom Inc, Raytheon Co, and Newmont Goldcorp Corp are top gainers and increased by 2.06%, 1.91% and 1.89% respectively.

Worst Performers*: Skyworks Solutions Inc, Western Digital Corp, and Applied Materials Inc are the top three laggards and decreased by 2.91%, 2.58% and 2.53% respectively.

NASDAQ Composite (IXIC)

Top Performers*: aTyr Pharma Inc, CTI Industries Corp, and Titan Pharmaceuticals Inc are top gainers and increased by 65.02%, 37.50% and 29.54% respectively.

Worst Performers*: Edesa Biotech Inc, Cal-Maine Foods Inc, and ALJ Regional Holdings Inc are the top three laggards and decreased by 23.80%, 12.84% and 12.78% respectively.

Top Performing Sectors*: Energy (up 1.98%), Utilities (up 0.15%) and Basic Materials (up 0.10%).

Worst Performing Sectors*: Consumer Non-cyclicals (down 0.16%), Telecommunication services (down 0.18%) and Consumer cyclicals (down 0.38%).

Dow Jones Industrial Average (DJI)

Top Performers*: Proctor & Gamble Co, United Technologies Corp, and Chevron Corp are top gainers and increased by 0.34%, 0.26% and 0.24% respectively.

Worst Performers*: Boeing Co, JP Morgan Chase & Co, and American Express Co are the top three laggards and decreased by 1.20%, 1.05% and 0.97% respectively.

European Markets: The London’s broader equity benchmark index FTSE 100 traded at 47.06 points or 0.62% lower at 7,575.34, the FTSE 250 index snapped 227.66 points or 1.03% lower at 21,760.53, and the FTSE All-Share Index ended 28.72 points or 0.68% lower at 4,206.93 respectively. Another European equity benchmark index STOXX 600 ended at 416.63, down by 1.70 points or 0.41 per cent.

European News: In economic news, car sales in the United Kingdom last year fell to its lowest since 2013. This according to industry observers is on account of twin factors of the uncertain economic environment ensuing from pre-Brexit jittery and the other, the increased emission restrictions for diesel vehicles in the country. According to the data provided by the Society of Motor Manufacturers and Traders (SMMT), the new car registrations in 2019 were 2.31 million which was a drop of 2 percent since 2018. However, the situation took a turn for the good in the month of December as sales climbed by at least 4 percent alone in that month. In other news Oil prices have reached a high of $70 per barrel amidst heightened tensions between Irian and The United States of America who have exchanged hostilities in the past two days. On the other commodities space, Gold accelerated significantly to near seven year high on account of tensions prevailing currently between US and Iran and Palladium commodity price breached $2,000 mark during the Monday’s trading session.

London Stock Exchange (LSE)

Leading Performers of the Day*: WOOD GROUP (JOHN) PLC (WG.), GOODWIN PLC (GDWN) and AVON RUBBER PLC (AVON) were on the bright spot and rose by 5.93%, 5.36% and 4.09% respectively.

Worst Performers of the Day*: PARAGON BANKING GROUP PLC (PAG), HAMMERSON PLC (HMSO) and TBC BANK GROUP PLC (TBCG) are the major laggards and declined by 5.63%, 5.25% and 5.25% respectively.

FTSE 100 Index

FTSE-100 index performance in previous five days (as on January 06, 2020), before the market closed. (Source: Thomson Reuters (TR))

Top Stocks of the Day*: BAE SYSTEMS PLC (BA.), BP PLC (BP.), and POLYMETAL INTERNATIONAL PLC (POLY) were in the bright spot and leapt up by 2.27%, 1.97% and 1.49% respectively.

Worst Stocks of the Day*: HIKMA PHARMACEUTICALS PLC (HIK), EVRAZ PLC (EVR), and INTL CONSOLIDATED AIRLINES GROUP SA (IAG) were the beaten down stocks at the broader equity benchmark index FTSE 100 and decelerated by 4.30%, 3.79% and 3.65% respectively.

Top Volume Gainers of the Day*: LLOYDS BANKING GROUP PLC (LLOY), BP PLC (BP.), and VODAFONE GROUP PLC (VOD).

Elite Performing Sector of the Day*: Energy (up 0.76%).

Worst Performing Sectors of the Day*: Financials (down 1.70%), Basic Materials (down 1.43%), and Healthcare (down 1.17%).

Forex Rates*: GBP/USD and EUR/GBP were quoting at 1.3165 and 0.8504, respectively.

Bond Yields*: U.S 10-Year Treasuries yield was quoting at 1.790%, and the UK 10-Year Government Bond yield was trading at 0.773%, respectively. 

*At the time of writing

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