What Changed The Market In Wednesday’s Session?

  • April 10, 2019 02:53 PM BST
  • Team Kalkine
What Changed The Market In Wednesday’s Session?

London’s broader equity benchmark FTSE 100 Index traded lower by 0.05 per cent or 3.66 points against its Tuesday’s closing price and ended Wednesday’s session at 7,421.91.

Shares in the United States were quoting mixed, with Dow Jones Industrial Average was quoting at 26,131.97 and decreased by 18.61 points or 0.07 per cent, the S&P 500 was quoting 5.67 points or 0.20 per cent higher at 2,883.87 and the technology benchmark index Nasdaq Composite was quoting at 7,941.79 and surged by 32.51 points or 0.41 per cent respectively.

Ahead of minutes from the Federal Reserve's latest policy meeting, the market remained flat as investors were in a wait-and-watch mode. While underlying inflation remained benign against the backdrop of slowing domestic growth, US consumer prices, boosted by rising gasoline and rents, rose by the most in 14 months in March.

To counter spreading global gloom, the European Central Bank kept its monetary policy unchanged, in line with the market's expectations. The bank intends to give recent stimulus measures time to work as the bank warned of downside risks.

At an emergency summit on Wednesday, European Union leaders, struggling to end Britain's troublesome membership, will grant Theresa May a second delay to Brexit. The leaders are still debating over the length and terms of extension. While French President Emmanuel Macron is pushing for a short extension, German Chancellor Angela Merkel said she favours an extension of "several months".

Coming back to the European market, broader equity benchmark FTSE 100 index posted mix results on Wednesday’ session. On April 10, 2019, the FTSE 100 index closed the session at 7,421.91, down by 0.05% against its previous closing price. The FTSE All-Share index declined by 0.21 points or 0.01 per cent to 4,054.58. Another broader European equity benchmark index STOXX 600 closed at 386.68 and surged by 1 point or 0.26 per cent against its previous closing price.

Performers and Laggards on LSE

Stocks like G4S PLC (GFS), XAAR PLC (XAR) and PAGEGROUP PLC (PAGE) were among the top performers and increased by 19.69 per cent, 8.90 per cent and 5.43 per cent respectively. On the other side, shares like INDIVIOR PLC (INDV), LONMIN PLC (LMI) and STAGECOACH GROUP PLC (SGC) were among the laggards and declined by 71.64 per cent, 9.56 per cent and 9.30 per cent respectively.

FTSE 100 Index cues

Stocks like TESCO PLC (TSCO), SEVERN TRENT PLC (SVT) and MONDI PLC (MNDI) were among the top gainers on the broader equity benchmark FTSE 100 index and were up by 3.59%, 1.92% and 1.91% respectively. Shares including RECKITT BENCKISER GROUP PLC (RB.), NMC HEALTH PLC (NMC) and WHITBREAD PLC (WTB) were laggards on the FTSE 100 index and were down by 6.49%, 2.55% and 2.12%, respectively.

At FTSE 100 index, stocks like VODAFONE GROUP PLC (VOD), LLOYDS BANKING GROUP PLC (LLOY) and TESCO PLC (TSCO) were again top active volume stocks on Wednesday.

On Sector specific, Utilities, Basic Materials and Energy were among the top performing sectors and Consumer Non-Cyclicals, Healthcare and Telecommunications Services were among the laggards.

Commodity Cues*

  • Brent Crude was trading at $71.69 per barrel.
  • West Texas Intermediate was quoting at $64.55 per barrel.
  • Gold was quoting at $1,311.95 an ounce.

London Metal Exchange Cues - Closing Prices (Apr-09-19)

  • LME Aluminium was quoting at $1,851.00 per tonne.
  • LME Lead was quoting at $1,977.50 per tonne.

Forex Cues*

  • Currency Pair GBP/USD was quoting at 1.3085.
  • Currency Pair EUR/GBP was quoting at 0.8616.

Money Market Cues*

  • US 10Y Treasury Bond yield was quoting at 2.477% in Wednesday’s session.
  • UK 10Y Bond yield was quoting at 1.086% in Wednesday’s session.

* At the time of writing


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