Wall Street uplifts London equities as US retail sales jump

US Markets: Wall Street indices started on a positive footing on Friday, 15 October, with the Dow Jones Industrial Average rising approximately 1%, extending Thursday’s gain of more than 1.50%. The technology barometer Nasdaq Composite advanced moderately, while the broader S&P 500 jumped over 0.70% as equities saw a market-wide buying. The two-day gain has effectively counterbalanced the three-day slide with the Dow Industrials turning positive on a monthly scale.

US Market News: American markets were on a roll after the retail sales in the September of 2021 surged 0.7% as compared to the quantum of sales realised in August. The upbeat consumer spending and continuous improvement in the sales volume has regenerated the confidence amidst the investors, even as the rising inflationary pressure worries escalate, alongside the persisting shortcomings with regard to the supply chain and logistics systems.

Market participants are looking forward to the speech by New York Federal Reserve president and chief executive officer John C. Williams, scheduled later today.

Shares of Goldman Sachs Inc, American Express Co, Caterpillar Inc, UnitedHealth Group Inc, Visa Inc, JPMorgan Chase, Home Depot Inc and Honeywell International Inc were the lead gainers on Dow today.

UK Markets: The domestic benchmark FTSE 100 bounced back in the late trades following the higher opening on Wall Street and optimistic sentiments across Europe. The mid-cap reflector FTSE 250 and the broader indices FTSE 350 and FTSE All-Share oscillated in a much similar fashion.

FTSE 100 was trading at 7,223.44, up 0.23% from the previous close of 7,207.71. Today itself, the index registered a fresh 52-week high of 7,243.85.

FTSE 100 (1-year performance as on 15 October 2021)

One year performance of FTSE 100 as on 15 October 2021

Source: REFINITIV

The heavyweight shares of HSBC Holdings Plc (up 1.90%), Royal Dutch Shell Plc (up 1.71%) and BP Plc (up 2.03%) handheld the index throughout the day, helping it to offset the negative points provided by the falling shares of AstraZeneca (down 0.35%), Unilever (down 0.52%) and Diageo (down 0.78%).

Across the index, the stock of HSBC Holdings provided the biggest boost to the index, while the stock of Evraz Plc (up 3.66%) emerged as the biggest gainer among the 101 constituents, followed by International Consolidated Airlines Group SA (up 3.50%), Ocado Group Plc (up 2.74%), Antofagasta Plc (up 2.71%) and Barclays (up 2%).

UK Market Snapshot

Top 3 volume leaders: Lloyds Banking Group, Glencore Plc and Barclays Plc

Top 3 sectoral indices: Fossil Fuels, Banking and Industrial Transportation

Bottom 3 sectoral indices: Personal Goods, Media, and Gas & Water

Crude oil prices: Brent crude up 0.95% at $84.80/barrel; US WTI crude up 1.12% at $82.22/barrel

Gold prices: An ounce of gold traded at 1,774, down 1.33%

Exchange rate: GBP vs USD - 1.3765, up 0.68% | GBP vs EUR - 1.1865, up 0.64%

Bond yields: US 10-Year Treasury yield - 1.565% | UK 10-Year Government Bond yield - 1.0925%

Global Markets @ 15:50 BST

*All financial figures are recorded while writing the copy

Performance of global stock markets

 

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