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Live reporting

Stock Market Live Updates 14/10 – MDRR Stock Up 135%

1 week ago

As it happens:

Latest21:05
US Markets Close

DOW          -0.58%

S&P 500    -0.67%

NASDAQ  -0.80%

20:24
Netflix Subscriber Surge

$NFLX

Netflix website-tracking data suggests a subscriber surge during the pandemic started to slow internationally in Q3 – Business Insider.

Netflix shares are down 2.08% at $542.55

20:21
Nio Stock Rallies

$NIO

Nio shares are up 21.23% at $26.20 after a JPMorgan analyst upgraded the stock to overweight, hiking his price target to $40 per share.

 

20:00
Equities

After a very long break for me today, I am back for the evening, so let’s take a look at how European equities performed and how their counterparts in the US are getting on…

European indexes were overall lower with the FTSE at -0.58%, the STOXX 50 at -0.18% and the CAC 40 at -0.12%. The DAX closed 0.07% higher while the IBEX 35 was the strongest performer out of the lot closing up 0.60%.

In the US the three major equity markets are trading lower with the DOW down 0.31%, the S&P is down 0.39% and the NASDAQ is down 0.51%.

The fall has come after comments from Treasury Secretary Mnuchin lowering expectations of a stimulus deal being reached before the election.

12:54
Cyclerion Shares Plummet

$CYCN

Cyclerion shares have plummeted 36% to $4.55 after the company said that its olinciguat results “did not demonstrate adequate activity to support further internal clinical development. Cyclerion intends to complete its analysis of the study results and present or publish them in a future forum.”

12:03
Concho Resources Shares Rally 10%

$CXO  $COP

Concho Resources shares have rallied over 10% to $48.72 premarket after a report by Bloomberg reported that ConocoPhillips is in talks to buy the company.

The report stated that a deal may arrive within the next weeks.

 

11:19
Medalist Diversified REIT

$MDRR

Medalist Diversified REIT’s stock has jumped 135% to $2.74 premarket after the real estate investment trust announced that its board of directors have authorised and the company has declared a dividend for the third quarter of 2020 on it Series A Preferred Stock.

10:38
Brexit News

News has broken (somewhat predictably) that the UK won’t walk away from Brexit trade talks immediately with the original deadline set by Prime Minister Boris Johnson ending tomorrow.

According to Bloomberg: “Johnson will make a decision on whether to end talks after EU leaders meet on Thursday and Friday for a summit”.

The GBPUSD jumped after the news but fell immediately after. It is currently trading at 1.2925.

10:00
Ford Delays Plug-In Hybrid Vehicle Launch

Bloomberg has reported that Ford Motor Co is delaying the launch of its new plug-in hybrid vehicle until 2021 after seven fires involving its European market Kuga vehicle.

According to Bloomberg, the issue surrounds fires when recharging, triggering the recall of 2,500 models.

A company spokesman told Bloomberg that the issue could take months to resolve.

 

09:08
UK Stock Gainers

Touchstone Exploration +31.82% – Company announces significant natural gas discovery

BSF Enterprise +27.27%

Kainos Group +26.47% – HERE’S WHY KAINOS SHARE PRICE ERUPTED 30% TODAY

Petards Group +21.23% – Company announces contract win to supply Porterbook Maintenance with Petards eyeTrain Systems

Synthomer +20.90% – HERE’S WHY SYNTHOMER SHARE PRICE SKYROCKETED 30% THIS MORNING

08:47
Touchstone Exploration Shares Jump

Touchstone Exploration Inc (TXP) shares are up 29.20% at 113.8p after the company announced it has made a significant natural gas discovery at the Ortoire exploration block in the Republic of Trinidad and Tobago.

 

07:27
Preview

Good morning…

-APAC markets were mostly lower overnight, although the Nikkei did close 0.11% higher. The ASX closed 0.27% lower

-Yesterday evening Eli Lilly halted the trial of its coronavirus treatment over safety concerns

-American cinema chain AMC Entertainment warned that it is running out of cash with Bloomberg reporting that they are considering bankruptcy

-Pelosi said the latest White House stimulus plan falls short while Senate Majority Leader, Mitch McConnell plans a vote on limited coronavirus  stimulus legislation based on the Payment Protection Program this month

-On today’s calendar there are a host of central bank speakers from the ECB, Fed and RBA, while data wise we have European industrial production and US PPI numbers to look out for

-Earnings season kicked off yesterday. Today we have names such as Bank of America, United Airlines, Wells Fargo, Goldman Sachs, and Bancorp reporting earnings numbers