US & UK Market Update in Tuesday’s Session

4 min read | January 28, 2020 11:10 PM GMT | By Team Kalkine Media

Global Markets: Broader indexes in the United States were trading in green, with the S&P 500 index traded 29.08 points or 0.90% higher at 3,272.71, Dow Jones Industrial Average Index expanded by 176.43 points or 0.62% higher and quoting at 28,712.23 and the technology benchmark index Nasdaq Composite traded higher at 9,234.10 and was up by 94.79 points or 1.04% against its previous day close (at the time of writing, before the U.S market close at ET 10:30 AM).

Global News: On 28th January 2020, stocks opened in the green, as the Wall Street was reported to be on a recovery path, after facing a difficult Monday in terms of volume. Harley Davidson Motorcycle shares were down by 6.3 per cent, following a disappointing announcement of the results from the company lead by a steep decline of 3.1 per cent in US Retail sales figures. Juniper Networks stocks were down by 1.9 per cent, after reporting a decline in the profit for the fourth quarter. Xerox announced its earnings which were up during the fourth quarter, post which its stocks gained 4.6 per cent. Lockheed Martin also reported a 20 per cent increase in profits, following which its stocks were up by 1.5 per cent. Delphi Technologies was the biggest winner of the day with 58 per cent rise in share prices, following an announcement by BorgWarner that it would be acquiring the company for a deal valued at US $3.3 Billion.

 S&P 500 (SPX)

Top Performers*: Nucor Corp, AO Smith Corp, and Whirlpool Corp are top gainers and increased by 5.53%, 3.95% and 3.51% respectively.

Worst Performers*: F5 Networks Inc, BorgWarner Inc, and McCormick & Company Inc are the top three laggards and decreased by 5.69%, 5.66% and 4.82% respectively.

NASDAQ Composite (IXIC)

Top Performers*: Vaxart Inc, Acceleron Pharma Inc, and Ocean Bio-Chem Inc are top gainers and increased by 71.29%, 50.67% and 48.48% respectively.

Worst Performers*: Lianluo Smart Ltd, Cleveland Biolabs Inc, and Allied Healthcare Products Inc are the top three laggards and decreased by 21.09%, 18.54% and 16.78% respectively.

Top Performing Sectors*: Energy (up 0.52%), Technology (up 2.48%) and Healthcare (up 0.86%).

Dow Jones Industrial Average (DJI)

Top Performers*: Apple Inc, Intel Corp, and Verizon Communications Inc are top gainers and increased by 1.42%, 1.16% and 0.80% respectively.

Worst Performers*: 3M Co, Pfizer Inc, and United Technologies Corp are the top three laggards and decreased by 3.62%, 3.06% and 1.32% respectively.

European Markets: The London’s broader equity benchmark index FTSE 100 traded at 68.64 points or 0.93% higher at 7,480.69, the FTSE 250 index snapped 129.39 points or 0.61% higher at 21,433.06, and the FTSE All-Share Index ended 35.60 points or 0.86% higher at 4,154.59 respectively. Another European equity benchmark index STOXX 600 ended at 417.56, up by 3.49 points or 0.84 per cent.

European News: In economic news, The Confederation of British Industry’s monthly retail sales gauge which the industry body came out with on Tuesday 28 January 2020 stood steady at zero for the month of January 2020 , a month which has usually seen a decline consecutively during the past ten years. In the three months to January 2020 period, the growth in the retail sales gauge was the strongest in a year. The above data comes only a couple of days ahead of the Bank of England meeting where a decision would be taken on a rate cut and is one of the many leading economic indicators which have turned positive in the past one month.

In business news, The United Kingdom retail industry has lost nearly 10,000 jobs in the first month of 2020 itself as more and more retail stores shut shop, which are under increasing threat from online retailing platforms. Centre for Retail Research (CRR) which came out with the data indicated that a further 1,200 jobs are also under risk currently in the sector.

London Stock Exchange (LSE)

Top Companies in the Movers list*: BARR(A.G.) PLC (BAG), ALLIED MINDS PLC (ALM) and LSL PROPERTY SERVICES PLC (LSL) zoomed up by 15.44%, 12.04% and 10.00% respectively.

Companies in the Top Stragglers list*: TED BAKER PLC (TED), SQN ASSET FINANCE INCOME FUND LTD (SQN) and PHAROS ENERGY PLC (PHAR) were in the red zone and declined by 8.51%, 7.14% and 5.31% respectively.

FTSE 100 Index

 FTSE-100 index 5-day performance – January 28th, 2020 (Source: Thomson Reuters)

Companies in the FTSE 100 Top Movers list*: WHITBREAD PLC (WTB), GLENCORE PLC (GLEN), and ST. JAMES’S PLACE PLC (STJ) accelerated by 2.36%, 2.35% and 2.00% respectively.

Companies in the FTSE 100 Top Laggards list*: DIAGEO PLC (DGE), NMC HEALTH PLC (NMC), HALMA PLC (HLMA), went down by 2.21%, 1.58% and 1.03% respectively.

Top Companies in the FTSE 100 Index list with Volume Runners*: LLOYDS GRP. (LLOY), VODAFONE GRP. (VOD) and GLENCORE (GLEN).

Sectors in the positive zone*: Telecommunications Services (up 1.01%), Healthcare (up 0.93%), and Financials (up 0.87%).

Sector in the negative zone*: Technology (down 0.01%).

Forex Rates*: GBP/USD and EUR/GBP were quoting at 1.3000 and 0.8470, respectively.

Bond Yields*: U.S 10-Year Treasuries yield was quoting at 1.644 %, and the UK 10-Year Government Bond yield was trading at 0.544 %, respectively.

*At the time of writing.


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