|Day's range||6,179.97 - 6,285.94|
|52-week range||4,898.80 - 7,727.50|
The Zacks Analyst Blog Highlights: Nvidia, Intel, Dollar General, Pernod Ricard and Fastenal
A handful of large-cap companies with a favorable Zacks Rank have skyrocketed more than 100% YTD, defying coronavirus-induced economic devastations.
The sharp rally in global stocks stalled on Tuesday, as traders weighed signs of economic recovery with new flare-ups in coronavirus cases in several parts of the world. London’s FTSE 100 was down 1.3 per cent while futures trade tipped Wall Street’s S&P 500 to open 0.9 per cent lower. Hopes for a rapid recovery in Europe were dented after the European Commission slashed its growth forecasts for the region’s economy this year after noting that the lifting of lockdown measures had been more “gradual” than first expected.
The rally comes after a major state-owned financial newspaper said that China requires a bull market to build strength, reviving memories of the bull run of 2015.
European stock markets slid at the start of trading on Tuesday following losses in Tokyo, as traders booked profits after strong gains for global equities the previous session. London's benchmark FTSE 100 index dropped 0.8 percent to 6,233.91 points, as investors weighed up second-wave virus fears against a rebounding economy. "After an impressive rally in the previous session, which saw the Nasdaq reach a new all-time high, the S&P close higher for a fifth straight session and the FTSE book a two-percent gain, investors are pausing for breath on Tuesday," noted Fiona Cincotta, analyst at City Index trading group.
"The outlook is very uncertain overall, the priority is going to be keeping costs down, and customers safe, as has become a bit of a mantra across the retail sector more generally," said Sophie Lund-Yates, equity analyst at Hargreaves Lansdown. "Investors are getting back to the reality of rising coronavirus cases, which is causing some caution and fear to be back following yesterday's rally," said David Madden, analyst at CMC Markets in London.
The health crisis weighed on European equity markets on Friday. Towards the end of last week, Dr Anthony Fauci, a US health official and expert in infectious diseases, warned that Covid-19 might have mutated, which could allow it to spread at a faster pace
European stock markets rebounded strongly at the start of trading on Monday following a rally in Asia, driven by hopes of a swift and solid economic recovery. London's benchmark FTSE 100 index surged 1.8 ...
The blue-chip FTSE 100 <.FTSE> slid 1.3%, with BP Plc <BP.L> and Royal Dutch Shell Plc <RDSa.L> among the biggest drags, as the new infections raised the spectre of further lockdowns and hit oil prices. The domestically-focussed FTSE 250 <.FTMC> fell 0.4% on the day, but still held onto a weekly gain. "Stocks enjoyed a big rally yesterday on the back of the optimism about a possible COVID-19 vaccine but all of the gains the FTSE 100 made yesterday have been lost today on renewed health fears," said David Madden, market analyst at CMC Markets UK.
European stock markets rose modestly at the start of trading on Friday, building on strong gains won the previous session thanks to solid US jobs data. London's benchmark FTSE 100 index climbed 0.4 percent ...
On Friday property group Land Securities, having reopened its retail properties, revealed plans to reinstate dividend payments in November. It is one of about half the FTSE 100 businesses that have either cancelled, reduced or suspended payouts this year. It is little surprise that dividend payers more exposed to economic gyrations have cut harder.
The blue-chip FTSE 100 <.FTSE> rose 1.3% and the mid-cap FTSE 250 <.FTMC> 1% as a COVID-19 vaccine from Pfizer <PFE.N> and Germany's BioNTech <BNTX.O> was found to be well tolerated in early-stage human trials. Appetite for global equities heightened after data showed record employment growth in the United States at 4.8 million job additions, even as layoffs remained elevated and COVID-19 cases across the country spiked.
Europe's main stock markets rebounded at the start of trading on Thursday, with London's benchmark FTSE 100 index climbing 0.7 percent to 6,202.03 points. In the eurozone, Frankfurt's DAX 30 index jumped ...
US stocks rose on the first day of the third quarter as bullish investors took heart from cheering economic data and news of a potential coronavirus vaccine. The S&P 500 index rose 0.5 per cent in New York on Wednesday, after the ADP employment report showed US private payrolls rose by 2.37m in June following a sharp upward revision to the previous month’s data. FedEx, seen as an economic bellwether, led gainers, up 11.7 per cent after benefiting from a boom in online shopping and home deliveries.
A COVID-19 vaccine developed by Pfizer Inc <PFE.N> and German biotech firm BioNTech <BNTX.O> showed promise and was found to be well tolerated in early-stage human trials. "The turning point appeared to be some vaccine news, an element of the pandemic saga that has been missing from the last couple of weeks," said Connor Campbell, a financial analyst at Spreadex. The domestically focussed FTSE 250 <.FTMC> was up 0.4% after closing Tuesday with its best quarter in eight years, partly on the back of historic global monetary and fiscal stimulus.
British boardrooms will be asked to recruit at least one person from an ethnic minority background in the next three years by an influential corporate lobby group that wants to harness the momentum of anti-racist protests to push for greater executive diversity. The 30% Club, which was formed a decade ago to push for more women in board positions across the FTSE, will on Wednesday announce a series of targets for the UK for the next three years centred on bringing greater ethnic diversity to top management positions.
European stock markets traded mostly higher Wednesday, as some better-than-expected economic data indicated that the economic recovery in Europe is on track, despite lingering concerns about the Covid-19 outbreak both at home and, more acutely, in the U.S. It was cautious about the outlook for the rest of the year, but said it had repaid 500 million pounds that it had drawn down from a credit facility as a precautionary measure at the start of the outbreak.
Standard Life Aberdeen (SLA) <SLA.L> Chief Executive Keith Skeoch will step down after five years at the helm and former Citi executive Stephen Bird will replace him, the British asset manager said on Tuesday. The announcement marks the end of a 14-year career as an SLA director for Skeoch, during which he oversaw the 2017 merger of Standard Life and Aberdeen Asset Management to create one of Britain's biggest fund managers.
The first half of an already tumultuous year — and one that has packed in some of the greatest hits from previous episodes of financial turbulence — is closing. For investors there is really no half-time break, let alone a Super Bowl style show such as this epic performance by Prince from a rain-swept Miami in 2007. Instead, investors are left assessing or fretting about the extent of the coming recovery in economic activity and corporate profits.
The blue-chip FTSE 100 <.FTSE> closed 0.9% lower, weighed down by a 4% decline in Royal Dutch Shell Plc <RDSa.L> after it said it planned to write down the value of its assets by up to $22 billion on a lower outlook for oil and gas prices. Gross domestic product dropped by a quarterly 2.2% between January and March, while Prime Minister Boris Johnson in a speech on Tuesday, promised to fast-track 5 billion pounds ($6.15 billion) of infrastructure investment to steer the economy out of the downturn. "In the current climate the UK economy can do with all the help it can get, but the sum of money in question is very small in the grand scheme of things," said David Madden, market analyst at CMC Markets UK.
The blue-chip FTSE 100 <.FTSE> closed 1.3% higher after falling as much as 0.6%, while the British mid-cap index <.FTMC> rose 0.7%. Oil & gas stocks <.FTNMX0530> jumped 2.1%, with heavyweight BP <BP.L> gaining 3.3% as it agreed to sell its global petrochemicals business to billionaire Jim Ratcliffe's Ineos for $5 billion. UK stocks have staged a strong rebound in the past three months following a coronavirus-driven crash in March, and are on track for one of their best quarters since the global financial crisis, boosted in part by historic global stimulus.
In the Welsh and Scottish mountains, a small number of hydro power stations, some of them more than half a century old, have become a first line of defence in the battle to keep electricity flowing around Britain during the coronavirus crisis. Britain’s four “pumped storage” hydro power stations, often referred to as “green batteries”, have played a critical role in helping utility company National Grid address exceptional conditions in the energy system since lockdown. The closure of businesses pushed demand for electricity down by 20 per cent on average in April and May while unusual weather meant the grid was simultaneously flooded with record solar generation and strong output from wind farms.
The chief executives of FTSE 100 companies that have tapped government support schemes through the coronavirus crisis received higher than average multiples of staff pay, according to new research. A report by the High Pay Centre showed that the 11 FTSE 100 companies found to have used the schemes paid their chief executives an average of 80 times more than their median employee and 109 times more than their lowest-paid staff. Building materials group, CRH, was identified by the High Pay Centre as the FTSE 100 company that used a government support scheme with the highest pay differential — its chief executive was paid 207 times as much as the median employee salary.
Bookmakers heaved a sigh of relief last week as betting shops reopened in the UK and sports fixtures started to return across Europe after the pandemic-enforced break — even if they were behind closed doors with simulated cheers. Sports betting is crucial for gambling companies. According to the European Gaming and Betting Association, two-fifths of its members annual gross gaming revenue, about €2.4bn each year, is made from sports wagers.