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Live reporting

Stock Market Live 21/10 – The FTSE Plummets

1 month ago

As it happens:

Latest21:11
Tesla Earnings

Well, about a minute after I sent out the last update Tesla released its earnings report…

Tesla Q3:

EPS $0.76 Adj. vs. $0.57 Est.;

Revs. $8.77B vs. $8.36B Est

Tesla shares have jumped over 3% after-hours to $437.57

21:07
Reminder...

A quick reminder that Tesla will be reporting its third-quarter earnings this evening.

A few weeks ago Tesla said that it delivered 139,300 vehicles in Q3.

21:03
US Stocks Close Lower

DOW          -0.35%

S&P            -0.24%

NASDAQ   -0.28%

19:45
US Equities Trading Higher After Pelosi Comments

DOW            +0.12%

S&P              +0.40%

NASDAQ     +0.42%

US equities are trading higher after Speaker Nancy Pelosi said to MSNBC that there is a prospect for a stimulus deal and she hopes to figure out the appropriations part of the bill later today.

17:10
Brexit Talks Back on...

The UK Chief Brexit Negotiator, David Frost has tweeted: “We have agreed that a basis for negotiations with the EU & @michelbarnier has been re-established. Intensive talks will happen every day & begin tomorrow afternoon, 22 October, in London.”

The GBP/USD is now at 1.3165.

16:36
European Indices Fall, FTSE Plummets...

FTSE 100     -1.90%

DAX              -1.43%

STOXX 50   -1.44%

IBEX 35       -1.65%

CAC 40        -1.53%

15:17
PayPal

$PYPL +4.41% $210.85

PayPal has announced the launch of a new service that will enable customers to buy, hold and sell cryptocurrencies directly from their PayPal account.

The company also said it plans to significantly increase cryptocurrency’s utility by making it available for use to purchase items at its 26 million merchants worldwide.

The service will be available to US account holders in the coming weeks and international customers in the first half of 2021.

14:40
US Indexes

Two out of the main three US indices opened lower, but they are all trading in the green now…

DOW           +0.05%

S&P             +0.25%

NASDAQ   +0.50%

14:02
Social Media Stocks

Social media stocks are rising premarket after Snap’s earnings results

Snap +23.73%

Pinterest +8.67%

Facebook +4.56%

Twitter +5.39%

10:51
Brexit

The EU’s Chief Brexit Negotiator, Michel Barnier has tweeted saying an agreement with the UK “is possible.”

🇪🇺🇬🇧 Our principles respect UK sovereignty. An agreement is possible if we are both ready to work constructively & in a spirit of compromise over the next days, on the basis of legal texts. Time is short,” tweeted Barnier.

 

10:04
UK Stock Movers

Gainers:

Pipehawk +33.08% – Company reported year-end 30 June results showing a pre-tax profit increase of 1517% and an 86% rise in EPS

Erris Resources +30.12%

Jaywing +25.11% – Company reported the exercise and completion of put option in relation to Massive Group Pty Ltd

Tremor International +22% – Company provided a trading update saying it experienced strong demand and expects trading for the full year to be ahead of market expectations

Losers:

Centamin -20.59% – CENTAMIN SHARE PRICE CRASHES 21% ON LOWER OUTPUT

Panthera Resources -20.37%

D4T4 Solutions -12.33% – Company provided a 6-month trading update

Catenae Innovation -11.02% –

08:54
European Indices Trading Lower

FTSE 100      -0.86%

DAX               -0.72%

STOXX 50    -0.68%

IBEX 35        -0.16%

CAC 40          -0.59%

07:50
Preview

Good morning all…

-Overnight APAC indices were mostly higher, although, the majority of Chinese bourses are trading lower

-Senate Majority leader Mitch McConnell has pushed back against a stimulus deal despite Pelosi and Mnuchin edging closer to an agreement

-Snap stock jumped over 20% in after-hours trading as the company reported strong user growth, and beat analysts expectations on both revenue and EPS.

-Netflix reported slowing user growth in Q3 with earnings mixed

-AstraZeneca’s COVID-19 vaccine trial is expected to resume this week according to reports

-On today’s data calendar we have seen UK inflation come in slightly higher than expected while later we have Canadian inflation and retail sales data and speakers from the ECB, BoE, Fed, Bundesbank and the RBA.

-The earnings calendar sees names including Tesla, Nasdaq, Chipotle, Verizon, Ericsson, Biogen, Netgear and Equifax reporting today.