Evening Euro Markets Bulletin

ADVFN III Evening Euro Markets Bulletin Daily world financial news Friday, 20 December 2013 17:28:15 Monitor Quote Charts News CFD's Spreadbetting Free BB   Sponsored by: Galvan 3 Superb Stocks to Buy BEFORE Christmas There is a small window of opportunity if you're quick! Click here for your FREE report. London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London close: Stocks end week higher after six straight falls - FTSE 100 at highest since November 29th - GDP revised higher in UK and US - Vedanta gains ahead of FTSE reshuffle - BAE tumbles after missing out on UAE contract techMARK 2,737.30 +0.08% FTSE 100 6,606.58 +0.33% FTSE 250 15,636.59 +0.30% UK stocks pushed higher on Friday, sending the FTSE 100 to its highest level in three weeks, as economic growth was revised higher in the UK and US. Markets were building on gains made yesterday as investors celebrated the Federal Reserve's move to end months of uncertainty by tapering its stimulus programme. The FTSE 100 finished 21.88 points higher at 6,606.58, extending its weekly rise to 2.6%. It has not closed above the 6,600 level since November 29th. "The FTSE looks set to close out the week on a positive note after the previous six weekly falls. With just over a week of trading left in 2013 there is still a chance that the index will be able to maintain the December rally that it has enjoyed every year for the last decade," said Alastair McCaig, Market Analyst at IG. "If that does transpire, however, it will no doubt feel like a hollow victory, as the index has been sitting in the red for so long," he said. Data revisions boost markets The year-on-year expansion of UK gross domestic product in the third quarter was revised up to 1.9%, from an earlier estimate of 1.5% after upwards changes to historic figures. Meanwhile, US GDP expanded by 4.1% in the three months to September, its fastest pace in two years and higher than the previous figure showing 3.6% growth. Not all data was positive today though as Britain's deficit with the rest of the world widened to £20.7bn from £6.2bn in the third quarter, equivalent to 5.1% of GDP - its biggest share of GDP since 1989. Data also released this morning showed that UK consumer confidence deteriorated this month. The GfK Consumer Confidence Index fell from -12 to -13 in December, surprising analysts who had expected a small up-tick to -11. Markets were higher across Europe despite the news that Standard & Poor's has downgraded its long-term debt rating for the European Union from 'AAA' to 'AA+'. Meanwhile, Asian markets finished mixed overnight amid continuing volatility in China's money-market rates, which rose for a third straight day. Vedanta gains ahead of FTSE 100 exit Vedanta Resources was a high riser this afternoon as it continues to recover after its poor performance over the last month. The stock is expected to be ejected from the FTSE 100 next week in the index's latest quarterly reshuffle and will be replaced by Royal Mail. Other miners including Anglo American and Randgold Resources, however, finished in the red. BAE Systems was a heavy faller after the United Arab Emirates withdrew its interest in buying 60 Eurofighter Typhoon jet fighters, a major blow for the defence group which had been in talks regarding the £6bn contract for over a year. Cruise operator Carnival Corp. extended gains after beating forecasts with its full-year results yesterday. Credit Suisse gave the stock a boost today by upgrading its rating to ‘outperform’ from ‘neutral’. William Hill declined after a strong surge yesterday as it confirmed that it plans to maintain its online betting base in Gibraltar despite new tax laws that are expected to cost the firm tens of millions of pounds. Learn to trade the most liquid financial market in the world At our free workshop we will give you a proven strategy for you to apply straight away. Also for simply signing up you will receive a free 50 page e-book from a publish FX trader.  Book your place now  FTSE 100 - Risers Vedanta Resources (VED) 848.50p +5.14% Carnival (CCL) 2,389.00p +3.33% Coca-Cola HBC AG (CDI) (CCH) 1,728.00p +2.92% Tesco (TSCO) 332.20p +2.58% Kingfisher (KGF) 385.00p +2.07% Travis Perkins (TPK) 1,805.00p +1.86% Legal & General Group (LGEN) 218.00p +1.77% Aggreko (AGK) 1,665.00p +1.71% Schroders (SDR) 2,503.00p +1.67% Smiths Group (SMIN) 1,452.00p +1.54% FTSE 100 - Fallers BAE Systems (BA.) 422.10p -4.50% Severn Trent (SVT) 1,661.00p -1.77% Anglo American (AAL) 1,261.00p -1.71% William Hill (WMH) 384.50p -1.71% Sports Direct International (SPD) 718.00p -1.31% SABMiller (SAB) 2,999.00p -1.30% SSE (SSE) 1,355.00p -1.24% Randgold Resources Ltd. (RRS) 3,765.00p -1.21% easyJet (EZJ) 1,506.00p -0.92% BG Group (BG.) 1,247.50p -0.80% FTSE 250 - Risers Genus (GNS) 1,274.00p +4.51% COLT Group SA (COLT) 130.50p +4.40% Domino Printing Sciences (DNO) 766.50p +4.14% Catlin Group Ltd. (CGL) 574.00p +3.99% Lancashire Holdings Limited (LRE) 800.50p +3.76% Beazley (BEZ) 269.20p +3.54% Renishaw (RSW) 1,871.00p +3.54% Balfour Beatty (BBY) 289.80p +3.50% Hiscox Ltd (HSX) 690.00p +3.37% Bank of Georgia Holdings (BGEO) 2,375.00p +3.35% FTSE 250 - Fallers Menzies(John) (MNZS) 715.00p -9.03% Dialight (DIA) 813.00p -6.07% Essar Energy (ESSR) 68.15p -5.22% Chemring Group (CHG) 205.00p -4.65% Greggs (GRG) 415.00p -4.49% Polymetal International (POLY) 493.10p -4.44% Perform Group (PER) 217.80p -3.37% Hochschild Mining (HOC) 123.20p -3.37% Domino's Pizza Group (DOM) 482.90p -3.09% Petra Diamonds Ltd.(DI) (PDL) 113.80p -3.07% Download your free Santa Rally report. Have you heard of the stock market phenomenon called the Santa Rally? The FTSE 100 has risen in 18 of the last 20 Decembers*. Download your free report showing a breaking down of what the average rise has been for the stocks within the FTSE over the month of December.  Losses can exceed deposits. * Past performance is no guarantee of the future Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe close: US economic data boosts stocks - US economic growth revised upwards - Eurozone and German consumer confidence rises - S&P downgrades rating of EU - UK GDP revised upwards - UK consumer confidence falls FTSE 100: 0.21% DAX: 0.69% CAC 40: 0.40% FTSE MIB: 0.60% IBEX 35: 0.16% Stoxx 60: 0.52% European stocks advanced as an upwards revision to economic growth estimates in the US confirmed the Federal Reserve was correct to reduce monetary stimulus. US gross domestic product rose by its fastest rate in two years during the third quarter, according to a revision of initial estimates by the Commerce Department. It said that the economy expanded by 4.1% in the three months to September, much higher than the previous figure showing 3.6% growth. The upwardly revised data was due to a faster-than-expected increase in consumer spending and business investment during the quarter. It comes after the Federal Reserve announced it would reduce its monthly bond purchases to $75bn from $85bn and would make further cuts gradually subject to economic data. In the UK, GDP was up 0.8% in the July-to-September period compared with the previous quarter. It was in line with previous figures but growth in the earlier quarter was revised up. On a year-on-year basis, growth was 1.9%, revised up from an earlier estimate of 1.5%. Also in the UK, GfK’s consumer confidence index for the UK fell from -12 to -13 in December, surprising analysts who had expected a small up-tick to -11. On a brighter note for European markets, GfK's forward-looking consumer sentiment indicator for Germany rose to 7.6 points in January from 7.4 points in December, the highest level since August 2007. Economists had expected it to remain unchanged. Eurozone consumer confidence also improved in December, according to data from the European Commission. Confidence in the 17 countries using the euro improved to -13.6 points from a dip to -15.4 in November. Economists had pencilled in a fall to -15. The data signalled that the nascent economic recovery in the Eurozone may be starting to positively affect household sentiment. S&P downgrades EU Standard & Poor’s stripped the European Union of its triple-A rating due to a decline in overall creditworthiness and decreasing cohesion amidst its 28 members. The agency cut the region's credit rating to 'AA+' from the prior 'AAA' with a stable outlook. “In our view, EU budgetary negotiations have become more contentious, signalling what we consider to be rising risks to the support of the EU from some member states,” S&P said in the report. BAE, Carnival BAE slumped after the defence company said yesterday that the United Arab Emirates ended talks to buy its Eurofighter Typhoon. Cruise operator Carnival continued to advance as executives said yesterday both pricing and booking levels are returning to historical norms after being decimated by ship problems. Retailers M&S, Tesco, Sainsbury and Morrison rebounded after a poor performance in recent days. Telenet gained after Goldman Sachs raised its rating on the stock to ‘buy’ from ‘neutral’, citing growth prospects. Lundin Petroleum retreated after Norway said the Swedish oil explorer drilled a dry well. The euro rose 0.12% to $1.3677. Brent crude futures climbed $0.952 to $111.350 per barrel, according to the ICE. 40% Returns from unusual but proven industry Download your FREE Investment Guide here. US Market Report US open: Markets set to hit new records after GDP revised higher - US GDP revised higher - Dow and S&P 500 on track for record highs - Red Hat, Carnival beat forecasts - BlackBerry agrees deal with Foxconn Dow Jones: 0.42% Nasdaq: 0.63% S&P 500: 0.44% US markets were registering solid gains on Friday morning after an upwards revision to economic growth lifted the Dow Jones Industrial Average and S&P 500 to record highs. The Dow looked set to hit its third all-time closing high in a row, while the S&P 500 recovered after a fall yesterday to hit its highest ever intraday level in morning trade. US gross domestic product rose by its fastest rate in two years during the third quarter, according to a revision of initial estimates by the Commerce Department. It said that the economy expanded by 4.1% in the three months to September, much higher than the previous figure showing 3.6% growth. The upwardly revised data was due to a faster-than-expected increase in consumer spending and business investment during the quarter. Nevertheless, as Analyst Peter Newland from Barclays pointed out, the quarter "continues to be characterised by an unusually sharp build in inventories". "Timely retail and auto sales data suggest that consumption growth should pick up further in Q4, adding to domestic demand, although inventory accumulation is likely to fall back. Our published forecast for Q4 GDP growth remains at 1.5%," he said. The focus has been on economic data this week after the Federal Reserve chose to scale back its quantitative easing programme in light of a stronger economic outlook. The Fed also said it would continue to gradually introduce further reductions if data points to further recovery in the world’s biggest economy. The central bank is expected to reduce its bond purchases by $10bn in each of its next seven meetings before ending the programme in December 2014, according to a median forecast in a Bloomberg survey of 41 economists conducted on December 19th. Red Hat, Carnival, BlackBerry Red Hat gained after the software company raised its full-year profit and sales forecast and posted third-quarter earnings that beat analysts’ expectations. Carnival Corp. continued to rally after its annual results yesterday as Credit Suisse raised its rating to ‘outperform’ from ‘neutral’ after the cruise operator's 2014 earnings guidance exceeded analysts’ estimates. Mobile phone group BlackBerry surged after agreeing to a five-year partnership with Taiwan-based gadget maker Foxconn. Investors were largely shrugging off a worse-than-expected loss for the third quarter. Drugstore group Walgreen advanced after hitting forecasts with its first-quarter profits which rose solidly on last year. CarMax, however, failed to meet targets with its third-quarter earnings. NEW Trading Strategy - Currently running at 70% success rate Earn a tax free income trading, from just 20 minutes a day – no experience needed.  Our powerful trading software will help you decide when to enter trades and how to maximise profits. Register for a FREE brochure and trading guide, Click Here.  Broker Tips Carnival, BAE Systems, Euromoney Cruise operator Carnival's full-year results released on Thursday could be an 'inflection point for sentiment', according to analysts at Numis Securities. Nevertheless, the broker has left its 'hold' rating and 2,250p target in place. "The key messages from yesterday's FY13 results for Carnival, in our view, were that: perception of the Carnival brands is recovering more quickly than expected; recent booking patterns have been encouraging with Q4 yields ahead of expectations; and costs are being tightly managed with guidance for FY14 much improved," Numis said. UBS has lowered its target for defence group BAE Systems from 490p to 475p after the United Arab Emirates withdrew its interest in buying 60 Eurofighter Typhoon jet fighters. "We previously estimated the value to BAE Systems was 30p in net present value terms, to which we had allocated a probability win of 50% - as a result we are reducing our price target by 15p to 475p." However, the bank maintained its 'buy' rating for the stock. Westhouse Securities has downgraded its rating for magazine publisher Euromoney Institutional Investor from 'neutral' to 'sell', saying that the stock's valuation is looking stretched. The broker explained that the share price has increased by 12% since it last updated its forecasts and increased its target to 1,110p in the aftermath of last month's full-year results. It said that the report was accompanied by an "encouraging rather than spectacular update which prompted a marginal uplift in consensus, we left our forecasts unchanged, and when coupled with relatively modest medium-term growth prospects … did not suggest scope for a significant re-rating"   New ADVFN Service - FREE Reports Get your free report on Isa's, Investment Trusts, Funds, Sipps Travel and Cars - FREE and Easy service CLICK HERE To advertise in the Euro Markets Bulletin please contact patrick@advfn.co.uk     To unsubscribe from this news bulletin or edit your mailing list settings click here. Registered Office/Accounts Dept: Suite 27, Essex Technology Centre, The Gable, Fyfield Road, Ongar, CM5 0GA. Customer Support +44 (0) 207 0700 961. Company registered in England and Wales: Number 2374988 VAT No. GB 549 2130 49

ADVFN Newsdesk - Markets Hold Onto Slender Optimism

ADVFN III World Daily Markets Bulletin Daily world financial news Friday, 20 December 2013 10:03:26    Monitor Quote Charts News Toplists Forex Boards   Sponsored by: VectorVest Are you looking for guaranteed performance? Discover automated trading plans that make money year after year and tell you exactly when to buy, what to buy and when to sell. Click Here US Market The major U.S. index futures are pointing to a higher opening on Friday, with sentiment showing modest improvement, with the third quarter growth being upwardly revised. Also on a positive note, NIKE reported better than expected earnings and some tech earnings released after the markets closed yesterday are also encouraging. That said, strong data and recent gains could position markets on track for some degree of consolidation. U.S. stocks managed to withstand the profit taking that followed the Fed-induced gains on Thursday, as traders reacted to some innocuous economic data and earnings. The major averages opened lower and fell further in early trading only to recoup their losses over the course of the session. The Dow Industrials moved into positive territory by the mid-session and mostly advanced thereafter before closing up 11.11 points or 0.07 percent at another record closing high of 16,179. Despite trimming its loss, the S&P 500 Index remained mostly below the flat line, ending down 1.05 points or 0.06 percent at 1,810. Meanwhile, the Nasdaq Composite ended at 4,058, down 11.93 points or 0.29 percent. Even though The Dow closed higher, the breadth among the components, with nineteen stocks closing lower, while the remaining 11 stocks advanced. Microsoft and Wal-Mart declined notably, while Chevron and Disney gained ground. Gold and housing stocks were among the biggest decliners of the session. On the economic front, the Labor Department reported that initial jobless claims rose to 379,000 in the week ended December 14th from 369,000 in the previous week, reaching the highest levels since March. Continuing claims rose 94,000 to 2.884 million for the week ended December 7th. The results of the Philadelphia Federal Reserve's manufacturing survey showed that the manufacturing growth in the region was little changed in December. The business conditions index rose less than expected, coming in at 7 compared to 6.5 in November. The new orders index rose 3.6 points to 15.4 after the 15+point decline in November and the shipments index was up almost 8 points to 13.3. The order backlogs continued to be in negative territory at -5. The employment indexes were mostly positive, with the number of employees index rising to 2.2 from 1.1, while the average workweek index rose to 6.8 from -8.6. Meanwhile, the business activity outlook index fell 1.8 points. Meanwhile, the National Association of Realtors reported that existing home sales fell to a seasonally adjusted annual rate of 4.90 million units from 5.12 million units. Single-family sales were down 3.8 percent month-over-month and condominium/co-ops sales fell 7.9 percent. Inventories measured in terms of months of supply rose to 5.1 months from 4.9 months. The median sales price of an existing home was down to $196,300 from $197,500. First time homebuyers accounted for 28 percent of total sales, which is well below the trend. A report released by the Conference Board showed that its leading economic indicators index rose 0.8 percent month-over-month in November following a 0.1 percent increase in October. The board noted that improving labor markets and new orders in manufacturing combined with strong financial indicators were responsible for November's gain. The lagging economic indicators index remained unchanged in November and the coincident economic indicators index rose 0.4 percent. The markets retained some of the moment they picked up along the way in the wake of the Fed decision, and that is reflected by the fact that The Dow pushed further to a new high. However, there is no denying the fact that the gains could make traders wary of pushing the markets further unless supported by some solid catalysts. In the eventuality of a pullback by the Dow, 16,158, 16,069, 16,006, its 21-day MA of 15,972 and 15,901 could serve as support levels. Santa Monica Wiz Kid Makes $87 Million Trading Stocks Using his same strategy you can get crazy rich – fast! Click Here and Find Out How! US Economic Reports CADUSD Oil Gold Allbanc Please click on the images to view our interactive charts With consumer spending and non-residential fixed investment rising more than estimated just two weeks ago, The Commerce Department released a report on Friday showing an unexpected upward revision to the pace of U.S. economic growth in the third quarter of 2013. The Commerce Department said gross domestic product increased by 4.1 percent in the third quarter compared to the 3.6 percent growth estimated earlier this month. Economists had expected the pace of GDP growth to be unrevised. The Atlanta Federal Reserve is scheduled to release the results of its survey on business inflation expectations at 10 am ET. The Kansas City Federal Reserve is due to release its index measuring regional manufacturing activity at 11 am ET. Tomorrow's Technical Set-Ups & Resistance Levels Over 100K traders are using this free analysis email to prepare and plan for the next trading day This daily report will include: Extreme Market Movement Recaps, Technical Set-Ups & Resistance Levels, Key Daily Events and a Complete Sector Analysis. Learn more about this free report now! Stocks in Focus FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts Nike reported second quarter earnings from continuing operations of 59 cents per share, up 4 percent year-over-year, and revenues climbed 8 percent to $6.4 billion. The earnings exceeded estimated, while the revenues were just about in line. The company also noted that worldwide future orders for its footwear and apparel scheduled for delivery from December 2013 through April 2014 totaled $10.4 billion, up 12 percent year-over-year. Red Hat reported third quarter non-GAAP earnings of 42 cents per share, up from 29 cents per share last year. Revenues rose 15 percent to $397 million. The results exceeded estimates. TIBCO reported fourth quarter non-GAAP net income of 42 cents per share, flat with last year. Revenues climbed to $315.5 million from $296.5 million last year. The results were better than expected. AAR Corp. reported second quarter net income of 50 cents per share, up from 44 cents per share last year. Sales rose to $540.7 million from $512.8 million in the year ago period. Citing fewer aircraft positions in its airlift operations, the company lowered its full year earnings per share guidance to $1.95-$2 per share from $2-$2.05 per share, while revenues are now expected at $2.10 billion to $2.15 billion. The results exceeded estimates, while the guidance was weak. Jones Group announced an agreement to be taken private by Sycamore Partners for $15 per share in cash or a total of about $1.2 billion. Including net debt, the deal is valued at $2.2 billion. Expeditors International of Washington announced that its CIO Jeffrey Musser has been elected as president and CEO to succeed Peter Rose, who is due to retire, effective March 1st, 2014. Peabody Energy said it expects full year 2013 adjusted earnings to be about $60 million to $80 million lower than its original targets due to delays in commissioning and the impact of the now-resolved labor action at the Metropolitan Mine. Covance said its board has authorized the repurchase of up to $100 million of its outstanding stock. American Express said it has agreed to settle a lawsuit that dates back to 2006 and challenged its card acceptance agreement. The company also noted that $4 million in costs related to the agreement will be recognized in the fourth quarter. Swift Transportation said it expects fourth quarter adjusted earnings of 33-36 cents per share compared to its previous expectations of 40 cents per share. The company attributed the downgraded expectations to unfavorable accident claims development, new fleet start-up and integration related costs. Trade Free for 60 Days at ETRADE Click here European Market After opening higher, European stocks saw volatility, as they moved back and forth across the unchanged line in the morning session. The averages are trading mostly higher. On the economic front, the results of a consumer confidence survey by GfK showed that its forward looking consumer confidence index for Germany is set to rise to its highest level in more than 6 years in January. The consumer climate index is set to rise to 7.6 in January from 7.4 in December. French statistical office INSEE reported that its business confidence index for France rose 2 points to 100 in December, while economists had expected a more modest improvement to 99. Revised estimates released by the U.K. Office for National Statistical Office showed that the economy expanded at an unrevised rate of 0.8 percent sequentially in the third quarter. The second quarter growth was upwardly revised slightly to 0.8 percent. No platform or data fees with no trade minimums Trade free for 60 days + get up to $600 cash. Join TD Ameritrade Asian Markets USDCAD USDEUR USDGBP USDJPY Please click on the images to view our interactive charts The Asian markets ended mixed once again, with the Chinese, Hong Kong, Indonesian, Malaysian and New Zealand markets closing lower, while the rest of the markets advanced. A lack of conviction following the lackluster performance on Wall Street overnight led to some indecision among traders. Japan's Nikkei 225 average languished below the unchanged line for the better part of the session before closing up 11.20 points or 0.07 percent before closing at 15,870. The yen remained firm amid the Bank of Japan decision to leave interest rates and the monetary base target unchanged. Australia's All Ordinaries opened higher and advanced sharply in early trading before moving roughly sideways for the rest of the session. The index ended up 59.50 points or 1.14 percent at 5,262. The market witnessed broad based strength, although utility stocks came under pressure. Energy, healthcare and material stocks gained ground in the session. Hong Kong's Hang Seng Index closed 76.57 points or 0.33 percent lower at 22,812 and China's Shanghai Composite Index fell 43 points or 2.02 percent before closing at 2,085. On the economic front, the Bank of Japan kept its monetary easing plan unchanged as the economy continued its moderate recovery and consumer prices maintained an upward trend. At the end of a two-day meeting, Governor Haruhiko Kuroda's nine-member Policy Board said it will keep the target of the monetary base expansion at an annual pace of 60-70 trillion yen. The board also said that the economy has been recovering moderately and the year-over-year change in the core consumer price index is now at around 1 percent. Currency and Commodities Markets Crude Oil futures are slipping $0.21 to $98.83 a barrel after rising $0.98 to $99.04 a barrel on Thursday. Gold futures, which declined $41.40 to $1,193.60 an ounce in the previous session, are currently moving down an incremental $1.30 to $1,192.30 an ounce. Among currencies, the U.S. dollar is trading at 104.63 yen compared to the 104.24 yen it fetched at the close of New York trading on Thursday. Against the euro, the dollar is valued at $1.3635 compared to yesterday's $1.3660.     To unsubscribe from this news bulletin or edit your mailing list settings click here. 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Morning Euro Markets Bulletin

ADVFN III Morning Euro Markets Bulletin Daily world financial news Friday, 20 December 2013 10:03:55 Monitor Quote Charts News CFD's Spreadbetting Free BB   Sponsored by: Galvan 3 Superb Stocks to Buy BEFORE Christmas There is a small window of opportunity if you're quick! Click here for your FREE report. London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London open: Markets edge higher despite growing UK concerns - UK consumer confidence falls - BoE admits to poor economic estimates - S&P downgrades EU to 'AA+' - BAE tumbles after UAE walks away from Eurofighter deal techMARK 2,732.19 -0.10% FTSE 100 6,595.40 +0.16% FTSE 250 15,592.04 +0.01% UK stocks edged higher on Friday morning with markets hitting their highest levels in December despite growing concerns about the UK economy. The FTSE 100 was trading up 0.16% at 6,595.4 early on after a 1.4% surge the day before as investors reacted to the Federal Reserve's move to scale back stimulus, ending months of uncertainty that has plagued financial markets worldwide. London's benchmark index has not closed above this level since November 29th when it ended the session at 6,650.57. UK consumer confidence declines, BoE admits forecasting errors Just as the Bank of England has become more cautious on its economic forecasts, data released this morning showed that consumer confidence deteriorated this month. The GfK Consumer Confidence Survey fell from -12 to -13 in December, surprising analysts who had expected a small tick-up to -11. This was the third straight fall in the sentiment index, its longest decline since 2010, signalling a clear "downwards trend", according to Nick Moon, Managing Director of Social Research at GfK. He said that while the fall was not nearly enough to reverse massive gains made earlier in the year, "the explanation for the last quarter of declining confidence most likely results from people's sense of how well- or rather badly-off they personally feel". This comes after the BoE admitted in its quarterly bulletin that its economic estimates have been poor since the start of the financial crisis, and have "tended to overpredict growth and underpredict inflation". "With a number of economic data being released for the UK at 09:30 - current account and final gross domestic product figures headlining - speculators could latch onto this story should the figures miss forecasts," said Alex Conroy, Financial Sales Trader at Spreadex. Markets on the whole were broadly higher across Europe this morning despite the news that Standard & Poor's has downgraded its long-term debt rating for the European Union from 'AAA' to 'AA+'. The agency said in a statement that the "financial profile of the EU has deteriorated, and that cohesion among EU members has lessened". Asian markets finished mixed overnight amid continuing volatility in China's money-market rates, which have risen higher for a third straight day. Renewed concerns about another credit crunch prompted the People's Bank of China to make an emergency liquidity injection, while the Shanghai Composite fell for its ninth consecutive session, its worst losing streak since 1994, according to Bloomberg. BAE tumbles after UAE walks away BAE Systems was a heavy faller this morning after the United Arab Emirates withdrew its interest in buying 60 Eurofighter Typhoon jet fighters, a major blow for the defence group which had been in talks regarding the £6bn contract for over a year. Retailers M&S, Tesco, Sainsbury and Morrison were among the best performers early on, recovering after a poor performance in recent days. Cruise operator Carnival was extending gains after impressing the market with its full-year results yesterday afternoon. Analysts at Numis this morning said that the better-than-expected results mean that "investor sentiment for the stock may now be near an inflection point". Oil majors BP and Shell were in demand after West Texas crude futures hit a two-month high yesterday following the Fed move. Natural gas firm BG Group, however, was in the red despite the news that its partner on block BM-S-9 in the Santos Basin, offshore Brazil, has submitted a Declaration of Commerciality to the Brazilian authorites. Learn to trade the most liquid financial market in the world At our free workshop we will give you a proven strategy for you to apply straight away. Also for simply signing up you will receive a free 50 page e-book from a publish FX trader.  Book your place now  FTSE 100 - Risers Carnival (CCL) 2,393.00p +3.50% International Consolidated Airlines Group SA (CDI) (IAG) 395.40p +1.59% RSA Insurance Group (RSA) 92.00p +1.49% Schroders (SDR) 2,491.00p +1.18% Tesco (TSCO) 327.60p +1.16% GlaxoSmithKline (GSK) 1,587.50p +0.92% Coca-Cola HBC AG (CDI) (CCH) 1,694.00p +0.89% Marks & Spencer Group (MKS) 448.00p +0.86% Aggreko (AGK) 1,649.00p +0.73% Admiral Group (ADM) 1,276.00p +0.71% FTSE 100 - Fallers BAE Systems (BA.) 422.20p -4.48% Petrofac Ltd. (PFC) 1,125.00p -1.32% BG Group (BG.) 1,242.00p -1.23% Anglo American (AAL) 1,269.00p -1.09% TUI Travel (TT.) 396.30p -1.05% Severn Trent (SVT) 1,676.00p -0.89% William Hill (WMH) 387.70p -0.89% Antofagasta (ANTO) 793.00p -0.81% Burberry Group (BRBY) 1,439.00p -0.76% Fresnillo (FRES) 693.00p -0.72% FTSE 250 - Risers Centamin (DI) (CEY) 40.81p +1.87% Berendsen (BRSN) 920.00p +1.77% Hiscox Ltd (HSX) 679.00p +1.72% Premier Farnell (PFL) 217.00p +1.64% Hochschild Mining (HOC) 129.50p +1.57% Lancashire Holdings Limited (LRE) 782.50p +1.43% Diploma (DPLM) 720.00p +1.41% Kentz Corporation Ltd. (KENZ) 627.50p +1.37% Countrywide (CWD) 548.50p +1.29% Enterprise Inns (ETI) 150.50p +1.28% FTSE 250 - Fallers Polymetal International (POLY) 495.90p -3.90% Menzies(John) (MNZS) 770.50p -1.97% Domino's Pizza Group (DOM) 488.70p -1.93% Supergroup (SGP) 1,379.00p -1.71% Carpetright (CPR) 535.00p -1.47% National Express Group (NEX) 271.90p -1.41% Dialight (DIA) 853.50p -1.39% Wetherspoon (J.D.) (JDW) 756.50p -1.37% UDG Healthcare Public Limited Company (UDG) 317.10p -1.37% UK Event Calendar INTERIM DIVIDEND PAYMENT DATE Alpha Real Trust Ltd., Foresight 2 VCT Infrastructure Shares, Foresight VCT Infrastructure Shares, Liontrust Asset Management, LondonMetric Property, Record, Tesco, Victoria QUARTERLY PAYMENT DATE BP, Duet Real Estate Finance Ltd INTERNATIONAL ECONOMIC ANNOUNCEMENTS Consumer Confidence Indicator (EU) (10:00) GDP (Final) (US) (13:30) Producer Price Index (GER) (07:00) GMS Inland Homes SPECIAL DIVIDEND PAYMENT DATE Lancashire Holdings Limited AGMS Botswana Diamonds, Hangar 8, JPMorgan Japanese Inv Trust, Kedco, Kolar Gold Ltd., Mining Investments Resources, Peninsular Gold Ltd., Zambeef Products UK ECONOMIC ANNOUNCEMENTS Balance of Payments (09:30) Current Account (09:30) GDP (quarterly national accounts) (09:30) GFK Consumer Confidence (00:01) Index of Services (09:30) Public Sector Finances (09:30) FINAL DIVIDEND PAYMENT DATE CEB Resources, CVS Group, Dunelm Group, Edinburgh Dragon Trust, Gleeson (M J) Group, Northern Venture Trust, Pan African Resources, St Ives   Download your free Santa Rally report. Have you heard of the stock market phenomenon called the Santa Rally? The FTSE 100 has risen in 18 of the last 20 Decembers*. Download your free report showing a breaking down of what the average rise has been for the stocks within the FTSE over the month of December.  Losses can exceed deposits. * Past performance is no guarantee of the future Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe open: Stocks mixed before confidence and GDP figures - Confidence figures in Eurozone, UK and US released - UK and US GDP figures out - EU receives downgrade from S&P FTSE 100: 0.12% DAX: 0.30% CAC 40: -0.01% FTSE MIB: -0.26% IBEX 35: 0.13% Stoxx 60: 0.18% European stocks were mixed before the release of batch of economic data and after the Federal Reserve announced a scaling back of stimulus. Consumer confidence figures for the Eurozone will be released today and the index expected to increase to -15 in December from -15.4 the prior month. In Germany, data from Nuremberg-based GfK is forecast to show gauge of consumer confidence in Europe's largest economy climbed to 7.6 in January from 7.4 this month, the highest reading since August 2007. GfK's consumer confidence index for the UK fell from -12 to -13 in December, surprising analysts who had expected a small tick-up to -11. The final estimate of UK gross domestic product report is tipped to confirm that the economy grew by 1.5% in the third quarter. Later in the US, GDP data may confirm a 3.6% annualised expansion in the third quarter. It comes two days after the Federal Reserve announced a tapering of its monetary stimulus and said it would continue to gradually introduce further reductions if data points to further recovery in the world's biggest economy. S&P downgrades EU Standard & Poor's has reduced its long-term credit rating on the European Union to 'AA-plus' from 'AAA' today due to rising tensions on budget negotiations. "In our opinion, the overall creditworthiness of the now 28 European Union (EU) member states has declined," S&P said in a statement. "In our view, EU budgetary negotiations have become more contentious, signalling what we consider to be rising risks to the support of the EU from some member states." BAE, Telenet BAE slumped after the defense company said yesterday that the United Arab Emirates ended talks to buy its Eurofighter Typhoon. Telenet gained after Goldman Sachs raised its rating on the stock to 'buy' from 'neutral', citing growth prospects. Cruise operator Carnival continued to advance as executives said yesterday both pricing and booking levels are returning to historical norms after being decimated by ship problems. The euro fell 0.20% to $1.3634. 40% Returns from unusual but proven industry Download your FREE Investment Guide here. US Market Report US close: Markets mixed as economic data disappoints - Economic data disappoints, jobless claims rise - Subdued session after Wednesday's strong surge - Dow hits new record, S&P 500 pulls back from all-time high Dow Jones: 0.07% Nasdaq: -0.30% S&P 500: -0.04% US markets finished in a mixed fashion on Thursday with the Dow Jones Industrial Average hitting a fresh all-time high and the S&P 500 pulling back from a record high. Nevertheless, gains on the Dow were only modest after a wave of disappointing economic data, which revealed that jobless claims rose to a nine-month high, along with a fall in existing-home sales and a drop in the Philly Fed manufacturing index. Meanwhile, investors were still digesting the Federal Reserve's move on Wednesday night to scale back its monthly bond-buying programme from $85bn to $75bn and said it would make similar moderate reductions in the future subject to incoming economic data. Policymakers predicted that the jobless rate - currently at 7% - would drop to around 6.5% by the end of 2014. However, they stressed that interest rates would be held close to zero "well past the time that the unemployment rate declines below 6.5%, especially if projected inflation continues to run below the [FOMC's] 2% longer-run goal". "After the enthusiastic reaction of the US markets following last night's FOMC statement, it is possibly no surprise that having a night to reflect fully on the implications has seen a more measured response from traders […]," said Market Analyst Alastair McCaig from IG. "The current levels of these indices mean that the possibility of a Christmas rally will be a more closely-run thing on the far side of the Atlantic." Economic data misses forecasts Jobless claims unexpectedly climbed by 10,000 to 379,000 in the week ended December 14th, the most since the end of March, Labor Department data showed. Economists had called for a decrease to 336,000. The Philadelphia Fed manufacturing index rose from 6.5 to 7.0 in December, compared with the consensus estimate of a jump to 10. Existing-home sales fell for the third month in a row in November, dropping by 4.3% to a seasonally-adjusted annual rate of 4.9m, according to the National Association of Realtors. Analysts had expected a figure closer to 5m. Not all economic data disappointed though, as an index of leading economic indicators increased 0.8% in November after gaining a revised 0.1% the prior month. The forecast was for a 0.7% rise. Carnival impresses with results Ocean cruise operator Carnival impressed with its final results, as revenues and earnings were not as bad as feared thanks to a successful marketing push in the fourth quarter and encouraging noises about "momentum" as it enters 2014. Bristol-Myers Squibb advanced after AstraZeneca said it would buy-out the pharmaceuticals group in its diabetes joint venture for up to $4.3bn. Facebook declined after saying the company and some shareholders, including Chief Executive Officer Mark Zuckerberg, will sell 70m shares. ConAgra Foods, Oracle Corp. and Accenture rose strongly after beating estimates with their quarterly results. S&P 500 - Risers ConAgra Foods Inc. (CAG) $33.47 +5.28% Cabot Oil & Gas Corp. (COG) $38.31 +5.22% United States Steel Corp. (X) $28.64 +5.22% Accenture Plc (ACN) $79.51 +5.14% Cablevision Systems Corp. (CVC) $17.16 +4.13% Jabil Circuit Inc. (JBL) $16.26 +3.77% Paychex Inc. (PAYX) $44.90 +3.65% Cliffs Natural Resources Inc. (CLF) $24.87 +3.62% Sears Holdings Corp. (SHLD) $45.49 +3.50% Air Products & Chemicals Inc. (APD) $110.92 +3.39% S&P 500 - Fallers Health Care REIT Inc. (HCN) $52.58 -3.81% J.C. Penney Co. Inc. (JCP) $7.96 -3.63% Darden Restaurants Inc. (DRI) $51.02 -3.59% AbbVie Inc (ABBV) $52.63 -3.11% Valero Energy Corp. (VLO) $46.66 -2.99% Perrigo Company plc (PRGO) $151.14 -2.91% HCP Inc. (HCP) $35.80 -2.82% Tenet Healthcare Corp. (THC) $39.85 -2.61% Exelon Corp. (EXC) $27.22 -2.54% Rowan Companies plc (RDC) $32.94 -2.52% Dow Jones I.A - Risers Chevron Corp. (CVX) $123.22 +1.33% Walt Disney Co. (DIS) $72.97 +1.07% International Business Machines Corp. (IBM) $180.22 +0.85% E.I. du Pont de Nemours and Co. (DD) $62.71 +0.84% Travelers Company Inc. (TRV) $88.79 +0.74% American Express Co. (AXP) $86.41 +0.49% 3M Co. (MMM) $136.41 +0.45% Visa Inc. (V) $216.08 +0.34% Cisco Systems Inc. (CSCO) $21.07 +0.33% AT&T Inc. (T) $34.45 +0.20% Dow Jones I.A - Fallers Microsoft Corp. (MSFT) $36.25 -0.90% Wal-Mart Stores Inc. (WMT) $77.24 -0.90% McDonald's Corp. (MCD) $95.14 -0.82% Caterpillar Inc. (CAT) $87.54 -0.71% Johnson & Johnson (JNJ) $91.98 -0.71% Procter & Gamble Co. (PG) $81.90 -0.58% Coca-Cola Co. (KO) $39.86 -0.40% Nike Inc. (NKE) $78.26 -0.37% General Electric Co. (GE) $27.32 -0.33% United Technologies Corp. (UTX) $109.50 -0.28% Nasdaq 100 - Risers Paychex Inc. (PAYX) $44.90 +3.65% Sears Holdings Corp. (SHLD) $45.49 +3.50% Activision Blizzard Inc. (ATVI) $17.66 +2.79% Whole Foods Market Inc. (WFM) $58.75 +2.07% Vertex Pharmaceuticals Inc. (VRTX) $69.95 +1.92% Vodafone Group Plc ADS (VOD) $38.34 +1.75% Monster Beverage Corp (MNST) $66.24 +1.66% Alexion Pharmaceuticals Inc. (ALXN) $130.75 +1.63% Sba Communications Corp. (SBAC) $87.21 +1.56% Twenty-First Century Fox Inc Class A (FOXA) $33.97 +1.52% Nasdaq 100 - Fallers Tesla Motors Inc (TSLA) $140.72 -4.91% Avago Technologies Ltd. (AVGO) $51.44 -3.22% Xilinx Inc. (XLNX) $44.31 -1.95% Cerner Corp. (CERN) $54.69 -1.92% Altera Corp. (ALTR) $31.26 -1.82% Maxim Integrated Products Inc. (MXIM) $27.93 -1.69% Liberty Media Corporation - Class A (LMCA) $143.27 -1.57% Adobe Systems Inc. (ADBE) $58.13 -1.54% Texas Instruments Inc (TXN) $42.46 -1.48% Fossil Group Inc (FOSL) $118.81 -1.39% NEW Trading Strategy - Currently running at 70% success rate Earn a tax free income trading, from just 20 minutes a day – no experience needed.  Our powerful trading software will help you decide when to enter trades and how to maximise profits. Register for a FREE brochure and trading guide, Click Here.  Newspaper Round Up Friday newspaper round-up: BAE Systems, interest rates, British Gas BAE Systems suffered a bruising setback after Britain's negotiations to supply 60 Typhoon fighter jets to the UAE collapsed and pricing talks on a separate deal with Saudi Arabia stalled. – Financial Times Millions of homeowners will be forced to rein in their spending or take a second job when interest rates rise to cope with higher mortgage repayments, the Bank of England has warned. – The Telegraph Bert Pijls, the brave, perhaps foolhardy, British Gas executive who stepped forth on to Twitter when public rage over rising energy prices was at its most frenzied, was yesterday looking for a new job. – The Times High Street chains including M&S, Gap and Debenhams have cut prices by up to 75% in battle for shoppers' wallets in the lead up to Christmas. The average discounts rose to 46% compared with 42% last week and 44% in the same week last year, according to the accountancy firm PwC. - The Guardian An emergency cash injection by the Chinese central bank failed to calm the country's lenders as money market rates climbed to dangerously high levels. Analysts cited a variety of technical factors for the tightness in the Chinese financial system, but the sudden run-up in rates was an uncomfortable echo of a cash crunch that rattled global markets earlier this year. – Financial Times   New ADVFN Service - FREE Reports Get your free report on Isa's, Investment Trusts, Funds, Sipps Travel and Cars - FREE and Easy service CLICK HERE To advertise in the Euro Markets Bulletin please contact patrick@advfn.co.uk     To unsubscribe from this news bulletin or edit your mailing list settings click here. Registered Office/Accounts Dept: Suite 27, Essex Technology Centre, The Gable, Fyfield Road, Ongar, CM5 0GA. Customer Support +44 (0) 207 0700 961. Company registered in England and Wales: Number 2374988 VAT No. GB 549 2130 49

Evening Euro Markets Bulletin

ADVFN III Evening Euro Markets Bulletin Daily world financial news Thursday, 19 December 2013 17:29:18 Monitor Quote Charts News CFD's Spreadbetting Free BB   Sponsored by: Galvan 3 Superb Stocks to Buy BEFORE Christmas There is a small window of opportunity if you're quick! Click here for your FREE report. London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London close: Stocks surge to two-and-a-half-week high after Fed taper - FTSE 100 at highest since December 2nd after Fed taper - Fed scales back stimulus, gives guidance on rates - Carnival jumps late on after FY results - Pharmaceutical and life insurance stocks rise techMARK 2,735.02 +1.40% FTSE 100 6,584.70 +1.43% FTSE 250 15,589.95 +1.45% UK stocks surged to a two-and-a-half-week high on Thursday as investors reacted to the Federal Reserve's move to scale back monetary stimulus, ending months of uncertainty that has plagued financial markets worldwide. Strong gains from Carnival after its full-year results also helped lift the FTSE 100 in afternoon trade, along with a decent performance by pharmaceutical and life insurance stocks. Tracking a rally on Wall Street last night, London's benchmark index ended 92.62 points higher at 6,584.7 this afternoon - its best closing level since December 2nd when it finished at 6,595.33. The Fed announced that it would scale back its monthly bond-buying programme from $85bn to $75bn and said it would make similar moderate reductions in the future subject to incoming economic data. Policymakers predicted that the jobless rate - currently at 7% - would drop to around 6.5% by the end of 2014. However, they stressed that they would hold interest rates close to zero "well past the time that the unemployment rate declines below 6.5%, especially if projected inflation continues to run below the [FOMC's] 2% longer-run goal". "The removal of this festering sore of uncertainty, along with a more nuanced and tweaked tone of forward guidance has helped keep equity markets well underpinned," said Chief Market Analyst Michael Hewson from CMC Markets. US markets, however, opened lower today as the initial euphoria surrounding the Fed decision quickly faded in the face of disappointing economic data, which saw jobless claims rise to a nine-month high and existing-home sales drop sharply. Carnival buoyed by FY results, drugmakers higher Cruise operator Carnival surged into the top spot on the FTSE 100 risers list this afternoon after it impressed with its final results, as revenues and earnings declines were not as bad as feared thanks to a successful marketing push in the fourth quarter. The firm also made encouraging noises about "momentum" as it enters 2014. AstraZeneca was higher after spending up to $4.1bn to buy out Bristol-Myers Squibb's stake in their diabetes joint venture, giving the Anglo-Swedish company full ownership of intellectual property and global rights for a large portfolio of products. Fellow pharma group GlaxoSmithKline also advanced after US regulators approved Anoro Ellipta, its treatment for chronic obstructive pulmonary disease. Upside however was limited on the news that Denmark has approved the sale of a generic rival to GSK's biggest product, Advair. Life insurers were almost universally higher after rating agency Fitch gave an encouraging bill of health on US counterparts for 2014. Aviva, Legal & General, Old Mutual, Prudential and Standard Life were all up before the close. Precious metal miners Fresnillo and Randgold Resources were among the few fallers on the FTSE 100, with the stocks tracking heavy falls in gold and silver prices in afternoon trade. G4S was in the red after the government referred the security group to the Serious Fraud Office following a review of outsourcing contracts due to suspected over-charging. Sector peer Serco surged after saying it will pay back £68.5m to the Ministry of Justice for overcharging on its Electronic Monitoring contract, putting an end to months of uncertainty for the company amid an investigation by the government. Learn to trade the most liquid financial market in the world At our free workshop we will give you a proven strategy for you to apply straight away. Also for simply signing up you will receive a free 50 page e-book from a publish FX trader.  Book your place now  FTSE 100 - Risers Carnival (CCL) 2,312.00p +5.47% Petrofac Ltd. (PFC) 1,140.00p +4.68% William Hill (WMH) 391.20p +4.15% WPP (WPP) 1,346.00p +3.70% Standard Life (SL.) 352.70p +3.64% Hargreaves Lansdown (HL.) 1,316.00p +3.54% Associated British Foods (ABF) 2,400.00p +3.05% Aviva (AV.) 435.90p +2.83% ARM Holdings (ARM) 1,056.00p +2.82% Prudential (PRU) 1,306.00p +2.75% FTSE 100 - Fallers Fresnillo (FRES) 698.00p -3.99% Randgold Resources Ltd. (RRS) 3,811.00p -2.68% G4S (GFS) 248.90p -1.89% Johnson Matthey (JMAT) 3,206.00p -0.19% Amec (AMEC) 1,040.00p -0.19% HSBC Holdings (HSBA) 647.70p -0.09% FTSE 250 - Risers Serco Group (SRP) 476.60p +6.19% Millennium & Copthorne Hotels (MLC) 596.50p +5.02% Synergy Health (SYR) 1,197.00p +5.00% Homeserve (HSV) 271.70p +4.90% Henderson Group (HGG) 212.00p +4.64% National Express Group (NEX) 275.80p +4.51% Synthomer (SYNT) 251.00p +4.37% Beazley (BEZ) 260.00p +4.33% Enterprise Inns (ETI) 148.60p +4.06% Close Brothers Group (CBG) 1,379.00p +3.68% FTSE 250 - Fallers Centamin (DI) (CEY) 40.06p -3.98% African Barrick Gold (ABG) 157.40p -2.24% Kazakhmys (KAZ) 190.60p -2.21% Britvic (BVIC) 674.00p -2.11% Perform Group (PER) 225.40p -2.00% Rank Group (RNK) 129.60p -1.89% Imagination Technologies Group (IMG) 162.30p -1.76% RPS Group (RPS) 331.10p -1.58% Electra Private Equity (ELTA) 2,330.00p -1.10% Fidessa Group (FDSA) 2,250.00p -1.10% Download your free Santa Rally report. Have you heard of the stock market phenomenon called the Santa Rally? The FTSE 100 has risen in 18 of the last 20 Decembers*. Download your free report showing a breaking down of what the average rise has been for the stocks within the FTSE over the month of December.  Losses can exceed deposits. * Past performance is no guarantee of the future Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe close: Stocks rise as Fed tapering lifts economic confidence - Fed begins reducing stimulus - US initial jobless claims increase - UK retail sales rise - EU reaches banking deal FTSE 100: 1.27% DAX: 1.56% CAC 40: 1.46% FTSE MIB: 1.61% IBEX 35: 2.10% Stoxx 600: 1.61% European stocks advanced as the Federal Reserve’s decision to reduce monetary stimulus ended months of uncertainty and lifted confidence in the recovery of the US economy. The US central bank last night announced it would reduce its monthly bond-buying programme from $85bn to $75bn and make further cuts gradually, depending on economic data. “Markets dislike uncertainty so, while the notion of more shallow liquidity might have had the consequence of a protracted sell-off, market participants can now focus on the underlying issues without the constant ‘will they, won’t they’ taper concerns,” IG noted. Policymakers predicted that the jobless rate - currently at 7% - would drop to around 6.5% by the end of 2014. However, they stressed that interest rates would be held close to zero "well past the time that the unemployment rate declines below 6.5%, especially if projected inflation continues to run below the FOMC's 2% longer-run goal". “The action today is intended to keep the level of accommodation the same overall and to push the economy forward,” said Chairman Ben Bernanke. “We are committed to doing what is necessary to getting inflation back to target.” Today in the US, jobless claims climbed by 10,000 to 379,000 in the week ended December 14th, the most since the end of March, Labor Department data showed. Economists had called for a decrease to 336,000. The Philadelphia Fed manufacturing index rose from 6.5 to 7.0 in December, compared with the consensus estimate of a jump to 10. Existing-home sales fell for the third month in a row in November, dropping by 4.3% to a seasonally-adjusted annual rate of 4.9m, according to the National Association of Realtors. Analysts had expected a figure closer to 5m. On a more positive note, an index of leading economic indicators increased 0.8% in November after gaining a revised 0.1% the prior month. The forecast was for a 0.7% rise. UK retail sales rise modestly UK retail sales rose by a modest 0.3% last month in line with consensus estimates, compared to October’s 0.9% drop. Clothing shoppers drove the increase as people sought warmer outfits in the colder weather, but it was offset by lower spending in department stores, according to the Office for National Statistics. Meanwhile, Eurozone finance minsters this morning agreed a blueprint to close failing banks. However, they held back on a plan for the Eurozone to unit in tackling its struggling lenders. The deal aims to prevent a repeat of the turmoil when failing banks in countries from Ireland to Cyprus brought their states to the brink of bankruptcy. Saab, AstraZeneca Saab gained after the Swedish maker of Gripen jets beat Boeing Co. and Dassault Aviation SA to win the contract to supply 36 jet fighters to Brazil. AstraZeneca edged higher after spending up to $4.1bn to buy Bristol-Myers Squibb's stake in their diabetes joint venture, giving the British company full ownership of intellectual property and global rights for a large portfolio of products. A gauge of miners declined, including Randgold Resources and Centamin, as the price of commodities fell. Mediaset rallied after Deutsche Bank AG said that the Italian broadcaster’s plan to spin off its pay-TV business could increase the company’s profitability. Amadeus advanced after the Spanish travel-reservations company forecast 2013 revenues and earnings that beat analysts’ estimates. Algeta surged after Bayer AG said it will buy the drugmaker for about 17.6bn kroner, a price that topped a preliminary offer. The euro fell 0.18% to $1.3660. Brent crude futures rose $0.742 to $110.450 per barrel on the ICE. 40% Returns from unusual but proven industry Download your FREE Investment Guide here. US Market Report US open: Markets pull back from record as data disappoints - Markets still digesting Fed taper - Jobless claims rise to nine-month high - Existing-home sales drop Dow Jones: -0.08% Nasdaq: -0.30% S&P 500: -0.23% US stocks slipped on Thursday morning, retreating after a Federal Reserve-inspired rally the day before sent the Dow Jones Industrial Average and S&P 500 to their highest-ever levels. The pull-back comes after a wave of disappointing economic data, which revealed that jobless claims rose to a nine-month high, a fall in existing-home sales and a drop in the Philly Fed manufacturing index. "Interestingly, though US markets closed at record highs the S&P500 was unable to make new intraday highs, stopping short of last month’s high, and that fact could precipitate a pullback, particularly if we drop back below 1,800 again," said Michael Hewson, Chief Market Analyst at CMC Markets. The S&P 500 was trading 0.23% lower at around 1,806 in mid-morning trade. Markets surged on Wednesday after the Fed announced that it would scale back its monthly bond-buying programme from $85bn to $75bn and said it would make similar moderate reductions in the future subject to incoming economic data. Policymakers predicted that the jobless rate - currently at 7% - would drop to around 6.5% by the end of 2014. However, they stressed that interest rates would be held close to zero "well past the time that the unemployment rate declines below 6.5%, especially if projected inflation continues to run below the [FOMC's] 2% longer-run goal". Economic data misses forecasts Jobless claims unexpectedly climbed by 10,000 to 379,000 in the week ended December 14th, the most since the end of March, Labor Department data showed. Economists had called for a decrease to 336,000. The Philadelphia Fed manufacturing index rose from 6.5 to 7.0 in December, compared with the consensus estimate of a jump to 10. Existing-home sales fell for the third month in a row in November, dropping by 4.3% to a seasonally-adjusted annual rate of 4.9m, according to the National Association of Realtors. Analysts had expected a figure closer to 5m. Not all economic data disappointed though, as an index of leading economic indicators increased 0.8% in November after gaining a revised 0.1% the prior month. The forecast was for a 0.7% rise. Carnival impresses with results Ocean cruise operator Carnival impressed with its final results, as revenues and earnings were not as bad as feared thanks to a successful marketing push in the fourth quarter and encouraging noises about "momentum" as it enters 2014. Facebook declined after saying the company and some shareholders, including Chief Executive Officer Mark Zuckerberg, will sell 70m shares. Oracle Corp. gained after forecasting third-quarter sales and profit in line with analysts’ estimates. NEW Trading Strategy - Currently running at 70% success rate Earn a tax free income trading, from just 20 minutes a day – no experience needed.  Our powerful trading software will help you decide when to enter trades and how to maximise profits. Register for a FREE brochure and trading guide, Click Here.  Newspaper Round Up GlaxoSmithKline, Serco, Britvic Jefferies has maintained its 'hold' rating for GlaxoSmithKline after Denmark approved the sale of a generic copy of its top-selling inhaled lung drug, Advair. "Sandoz/Vectura's EU branded generic of Advair/Seretide was anticipated, though the timing was uncertain. Confirmation of its approval in Denmark underpins our expectation that an increasingly competitive EU respiratory market may see further reference pricing, which could negatively impact Advair, Symbicort AstraZeneca and Breo." Panmure Gordon has kept a 'buy' rating for troubled outsourcing outfit Serco despite a disappointing trading update on Thursday, saying consensus estimates for this year are unlikely to change. Panmure Analyst Mike Allen said: "The pre-close statement from Serco shows little change from the profit warning in November. The outturn for 2013E is not expected to materially alter current consensus." He kept his positive stance on the stock, saying that the "current valuation may have captured most of the downside potential for 2014E and beyond". Britvic shares are "up with events" after a strong run, according to Investec which reiterated a 'hold' recommendation on the soft drinks group. After a 65% jump so far this year, Analyst Nicola Mallard said that the "real test of success" is if the company can consistently deliver profitable revenue growth - "something it has yet to prove".   New ADVFN Service - FREE Reports Get your free report on Isa's, Investment Trusts, Funds, Sipps Travel and Cars - FREE and Easy service CLICK HERE To advertise in the Euro Markets Bulletin please contact patrick@advfn.co.uk     To unsubscribe from this news bulletin or edit your mailing list settings click here. Registered Office/Accounts Dept: Suite 27, Essex Technology Centre, The Gable, Fyfield Road, Ongar, CM5 0GA. Customer Support +44 (0) 207 0700 961. Company registered in England and Wales: Number 2374988 VAT No. GB 549 2130 49