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US Markets: Broader indices in the United States traded on a mixed note - particularly, the S&P 500 index traded 8.06 points or 0.20 per cent higher at 3,977.00, Dow Jones Industrial Average Index dipped by 115.45 points or 0.35 per cent lower at 32,838.01, and the technology benchmark index Nasdaq Composite traded higher at 13,613.71, up by 154.00 points or 1.14 per cent against the previous day close (at the time of writing, before the US market close at 10:30 AM ET).
US Market News: Wall Street showed mixed response on Tuesday, while Nasdaq rose with optimism regarding vaccine distribution. Even S&P 500 edged higher despite the decline in February retail sales more than estimated. Subsequently, 10-year Treasury bond yields declined 1.59%. Among the gaining stocks, Moderna soared over 5.92% as it initiated Covid-19 vaccine testing in children. Likewise, Facebook gained around 2.38% post announcing a partnership with Rupert Murdoch's News Corp. Among the declining stocks, Ford Motor fell over 3.22% post announcing its intentions to raise nearly US$2 billion through a convertible bond sale. Similarly, Nikola Corporation lost around 6.57% after filing the shares sell of US$100 million in a secondary offering with SEC.
US Stocks Performance*
UK Market News: The London markets soared to the day ahead of the Budget statement. FTSE 100 climbed 0.80% and was trading at 6,803.61 (at the time of writing). As per the Bank of England (BOE), economic growth in the UK will decline by 4% in the first quarter of 2020. The UK inflation rate are likely to remain below the 2% target. The BOE also assured that Brexit would not result in lower capital buffers for the UK’s insurers.
Among the gaining stocks, Greggs gained over 4.34% post reporting a better-than-expected start to the new financial year with a positive cash position. Similarly, AFC Energy jumped around 11.13%, following the announcement of a strategic partnership with Mace Group.
Among the fallers, 4 Imprint Group fell over 8.55% after posting a 35% decline in FY20 revenue. Likewise, Sabre Insurance shed around 6.34% post unveiling a decline in revenue and profitability in FY20 results.
European Indices Performance (at the time of writing):
FTSE 100 Index One Year Performance (as on 16 March 2021)
1 Year FTSE 100 Chart (Source: EODHD/Others, Thomson Reuters)
Top 3 Volume Stocks in FTSE 100*: Lloyds Banking Group Plc (LLOY); Rolls-Royce Holdings Plc (RR.); Vodafone Group Plc (VOD).
Top 3 Sectors traded in green*: Real Estate (+2.88%), Healthcare (+2.68%) and Industrials (+1.08%).
Top 2 Sectors traded in red*: Energy (-2.07%) and Basic Materials (-0.59%).
London Stock Exchange: Stocks Performance (at the time of writing)
Crude Oil Future Prices*: Brent future crude oil (future) price and WTI crude oil (future) price were hovering at $68.61/barrel and $65.02/barrel, respectively.
Gold Price*: Gold price was quoting at US$1,729.05 per ounce, down by 0.01% against the prior day closing.
Currency Rates*: GBP to USD: 1.3895; EUR to GBP: 0.8569.
Bond Yields*: US 10-Year Treasury yield: 1.620%; UK 10-Year Government Bond yield: 0.794%.
*At the time of writing
