US & UK Market Update in Tuesday’s Session-December 3, 2019

Global Markets: Broader indexes in the United States were trading in red, with the S&P 500 index traded 25.38 points or 0.82% lower at 3,088.49, Dow Jones Industrial Average Index contracted by 311.39 points or 1.12% and quoting at 27,471.65 and the technology benchmark index Nasdaq Composite traded lower at 8,500.90 and was down by 67.08 points or 0.78% against its previous day close (at the time of writing, before the U.S market close at ET 3:15 PM).Â

Global News: On 3^rd December 2019, markets opened lower, after the US President Donald Trump hinted that the Trade Deal with China might have to wait until the US elections in November 2020. This statement affected the semiconductor sector stocks the most, as Advanced Micro Devices was down by 3 per cent and NVIDIA stock was down 3.2 per cent post this statement. Intel’s investors were not impressed with the company’s talks to acquire Israeli Company Habana Labs in a US$ 1 billion deal, following which its stock fell around 1 per cent. An analyst on the wall street reported that the Netflix’s customer acquisition costs might be higher due to competition, after which its stock was reportedly down by 2.3 per cent. United Health Group’s earnings were short on the market expectation and its stock fell by 2 per cent following the news.

S&P 500 (SPX)

Top Performers*:Â Newmont Goldcorp Corp, SBA Communications Corp and CME Group Inc are top gainers and increased by 1.76%, 1.25% and 1.09% respectively.

Worst Performers*: Tapestry Inc, Freeport-McMoRan Inc, and Wynn Resorts Ltd are the top three laggards and decreased by 4.69%, 4.54% and 4.09% respectively.

NASDAQ Composite (IXIC)

Top Performers*: Audentes Therapeutics Inc, Ability Inc, and DarioHealth Corp are top gainers and increased by 105.70%, 81.09% and 67.86% respectively.

Worst Performers*:Â Aslan Pharmaceuticals Ltd, Cara Therapeutics Inc and Aldeyra Therapeutics Inc are the top three laggards and decreased by 42.50%, 28.55% and 23.63% respectively.

Top Performing Sectors: Utilities (up 0.23%).

Worst Performing Sectors*: Basic Materials (down 0.29%), Healthcare (down 0.47%) and Consumer Non-Cyclicals (down 0.54%).

Dow Jones Industrial Average (DJI)

Worst Performers*: Dow Inc, Apple Inc and Caterpillar Inc are the top three laggards and decreased by 2.78%, 2.47%, and 2.35% respectively.

European Markets: The London’s broader equity benchmark index FTSE 100 traded at 127.18 points or 1.75% lower at 7,158.76, the FTSE 250 index snapped 199.28 points or 0.96% lower at 20,500.93, and the FTSE All-Share Index ended 64.12 points or 1.59% lower at 3,971.65 respectively. Another European equity benchmark index STOXX 600 ended at 398.48, down by 2.53 points or 0.63 per cent.

European News: In positive economic news, the British consumers for the month of November 2019 increased their pace of spending and broke months of sliding trend even after excluding distortions caused by Black Friday, the data was released by British Retail consortium. In other news, British consumer expectation on Inflation also fell in the month of November as per a survey done by YouGov done for Citi.

In Corporate news, Retailer John Lewis has registered record sales on black Friday which stood at 9.5 per cent, the best that has been registered by the company. Online fashion retailer Boohoo also registered similar spike in sales during the period. Sky has announced to open a new Hollywood style film Studio in North London by 2022, for its new Elstree TV in order to compete with streaming Giants in the likes of Amazon and Netflix, the move by the company could create up to 2000 jobs in the United Kingdom.

London Stock Exchange (LSE)

Best Performers*: CENTAMIN PLC (CEY), CAPITAL & REGIONAL PLC (CAL) and RAVEN PROPERTY GROUP LIMITED (RAV) were on the bright spot for the day and up by 11.36%, 4.35% and 3.94% respectively.

Worst Performers*: GO-AHEAD GROUP PLC (GOG), EVRAZ PLC (EVR) and SYNTHOMER PLC (SYNT) are the top three laggards of the day and down by 9.24%, 7.16% and 6.46% respectively.

FTSE 100 Index

5-days Price Performance Chart of FTSE-100 Index (as on December-03-2019), before the market closed. (Source: Thomson Reuters)

Performers*: FRESNILLO PLC (FRES), POLYMETAL INTERNATIONAL PLC (POLY) and HALMA PLC (HLMA) are the top three gainers in today’s session and up by 1.85%, 1.62% and 0.29% respectively.

Laggards*: EVRAZ PLC (EVR), ITV PLC (ITV), and GLENCORE PLC (GLEN) are top laggards at the FTSE 100 index and down by 7.13%, 4.10% and 3.92% respectively.

Volume Gainers*: LLOYDS BANKING GROUP PLC (LLOY), VODAFONE GROUP PLC (VOD), and TESCO PLC (TSCO).

Worst Performing Sectors*: Energy (down 2.59%), Basic Materials (down 2.32%), and Consumer Cyclicals (down 2.23%).

Forex Rates*: GBP/USD and EUR/GBP were quoting at 1.2993 and 0.8528, respectively.

Bond Yields*: U.S 10-Year Treasuries yield was quoting at 1.711%, and the UK 10-Year Government Bond yield was trading at 0.670%, respectively.

*At the time of writing