What made FTSE 100 index end Monday’s session in green?

  • Feb 11, 2019 GMT
  • Team Kalkine
What made FTSE 100 index end Monday’s session in green?

London’s broader equity benchmark FTSE 100 index traded higher against its previous closing price

At the time of writing, US market was trading lower against its previous closing, as market participants have been taking a pause as China and US started their new trade deals talks and lawmakers of United States are trying to fix a deal on border funding. At Wall Street, the Dow Jones Industrial Average (.DJI) fell 53.22 points, the S&P 500 added 1.92 points and the technology stocks benchmark Nasdaq Composite gained 9.7 points.

Coming back to the European market, the broader European equity benchmark FTSE 100 index traded 57.93 points higher against its previous close. The index ended the Monday’s session at 7129.11, up 0.82 per cent against its last close price. British blue-chip companies drove the Monday’s session as banking and consumer stocks strengthened while a higher dollar exposed companies with significant global presence as a new trade negotiation started between the US and China. Another broader European equity benchmark STOXX 600 ended the Monday’s session at 361.12, up 0.85 per cent against the previous close.

GDP Update: Office for National Statistics (ONS) of the UK revealed GDP data for 2018, and as per the data showed, GDP growth rate dropped to 1.4 in 2018, down from 1.8 per cent in 2017. This is the lowest growth rate since 2012. As per ONS, growth rate weakened sharply in late 2018, dragged the full-year growth to its lowest in the last six years. On Q-on-Q basis growth rate fell to 0.2 per cent for the quarter that ended in December 2018 compared to 0.6 per cent in the previous quarter.

Performers and Laggards on the LSE

Stocks like Contourglobal Plc (GLO.L), RPS Group Plc (RPS.L) and KCOM Group Plc (KCOM.L) were among the top performers on the London Stock Exchange and were up by 6.9%, 6.8% and 6.7% respectively, while on the other side stocks like Carpetright Plc (CPR.L), Thomas Cook Group Plc (TCG.L) and Robert Walters Plc (RWA.L) were laggards on the London Stock Exchange and were down by 4.9%, 4.9%and 4.6% respectively.

At LSE, stocks like Lloyd Banking Plc (LLOY.L), Vodafone Group Plc (VOD.L) and Glencore Plc (GLEN.L) were among the top active volume stocks.

Broader Index FTSE 100 Cues

Stocks like TUI AG (TUI.L), Smurfit Kappa Group Plc (SKG.L) and Ocado Group Plc (OCDO.L) were among the top performers on the broader equity benchmark FTSE 100 and were up by 4.9%, 3.9%, and 3.8% respectively, while on the other side stocks like Antofagasta Plc (ANTO.L), Smith & Nephew Plc (SN.L) and Anglo American Plc (AAL.L) were laggards on the broader equity benchmark FTSE 100 index and were down by 3.5%, 3.0% and 1.2% respectively.

On sector specific front, almost every sector traded in green except Healthcare sector. Sectors like Consumer Cyclicals, Telecommunication and Financials were the top performing sectors on the broader equity benchmark FTSE 100 index.

Commodity Market Cues

At the time of writing,

  • Brent Crude oil was trading 0.80% higher at $62 per barrel.
  • West Texas Intermediate crude oil was trading 0.74% higher at $52.8 per barrel.
  • Gold was at $1311.15 per ounce.

London Metal Exchange

  • LME Aluminium traded at $1848 per tonne
  • LME Copper traded at $6148 per tonne.
  • LME Zinc traded at $2648.00 per tonne.
  • LME Nickel traded at $12475 per tonne.
  • LME Tin traded at $21100 per tonne.
  • LME Lead traded at $2050 per tonne.

Forex Market Cues

At the time of writing,

  • The British pound was trading against the US dollar (GBP/USD) at 1.2857.
  • Euro was trading against British pound at (EUR/GBP) at 0.8772.
  • US Dollar index was trading higher against majors at 97.03.

Money Market Cues

At the time of writing,

  • US 10-year treasury bond was trading at 2.66%
  • UK 10-year treasury bond was trading at 1.18%

Key Events to Watch This Week

  • On 13th Feb, United Kingdom, CPI rate (Chg.MM/YY)
  • On 15th Feb, United Kingdom, Retail Sales (Chg. MM/YY)

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