Mornin Euro Markets Bulletin

ADVFN III Morning Euro Markets Bulletin Daily world financial news Friday, 30 August 2013 17:32:11 Monitor Quote Charts News CFD's Spreadbetting Free BB   Sponsored by: Trendsignal NEW Trading Strategy - Running at 70% Success Rate Our powerful trading software will help you decide when to enter trades and how to maximise profits. Click here. London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts Markets extend losses after poor US data Moderate losses in early trading on Friday turned into a steep sell-off by the close as markets ended August in a cautious mood following a choppy week. A series of closely-watched economic indicators from the States prompted a negative reaction this afternoon, causing a weak start on Wall Street as investors trimmed positions ahead of a long three-day weekend - US markets will be closed on Monday for Labour Day. Second-quarter US economic growth forecasts were revised higher yesterday, building the case for the Federal Reserve to scale back quantitative easing at its next meeting in September. Today's data however will complicate matters somewhat - US consumer confidence declined in August, while consumer spending and consumer incomes rose less than forecast in July. "With a raft of important US economic announcements due next week it seems that markets are content to wait until we see the latest ISM, ADP and employment reports which are all due out in the coming days," said Senior Market Analyst Michael Hewson from CMC Markets. Meanwhile, the outcome of the debate over whether to launch a military strike in Syria still remains a concern for markets after UK Prime Minister David Cameron lost an initial vote to intervene - oppositions decided to wait for firm evidence from UN inspectors on the alleged use of chemical weapons by the Bashar al-Assad regime. In contrast, French President Francois Hollande signalled that he could be the main ally to the US in taking action against the Syrian government, saying that the UK vote made no difference to France's position. FTSE 100: G4S' recent strength continues There were only a handful of stocks in positive territory on the FTSE 100 by the close of trade, yet security solutions group G4S was extending gains made earlier this week when it announced plans to sell assets to reduce its debt pile and issue new shares to help strengthen its balance sheet. G4S has gained by around 15% over the last month alone and has now erased all of the losses experienced earlier in the year. JPMorgan Cazenove kept an 'overweight' rating on the shares saying that there could be upside to current forecasts on the back of the company's revenue growth potential and new business opportunities. Outsourcing giant Serco was rebounding after a heavy fall yesterday after confirming that it is under investigation because of a "misreporting of data" in connection with it prisoner escort contract with the Ministry of Justice. Shares dropped 11% the day before after it said it would forgo any past and future profits on the £285m contract. Telecoms giant Vodafone was continuing to rise after yesterday's impressive surge following the confirmation that it is in talks about selling its 45% stake in Verizon Wireless to US partner Verizon. The sale could generate up to $130bn for the UK group, reports have suggested. Burberry was also higher on positive readacross from some better-than-expected interim earnings figures out from French luxury peer Hermes. Among the worst performers was Vedanta as mining stocks tracked metals prices lower. Anglo American dropped on reports that it could close or sell off mines at Anglo Platinum Amplats if the division doesn't see improving profits next year. Meanwhile, Rio Tinto was down on concerns over delays to its Simandou iron ore project in Guinea. Energy Stocks were also providing a drag on the Footsie today as oil prices pulled back from hitting a two-year high earlier in the week. Shell, BP and BG Group were all out of favour this afternoon. A little known investment that could net you triple digit returns It's not gold, silver, bonds, real estate or stocks, but it is a high growth opportunity.  You can get your free report on it, here. TSE 100 - Risers G4S (GFS) 260.00p +3.38% Serco Group (SRP) 547.50p +1.67% Vodafone Group (VOD) 206.25p +0.73% Antofagasta (ANTO) 855.00p +0.71% Burberry Group (BRBY) 1,534.00p +0.26% Babcock International Group (BAB) 1,138.00p +0.18% Aggreko (AGK) 1,627.00p +0.12% FTSE 100 - Fallers Petrofac Ltd. (PFC) 1,385.00p -2.67% WPP (WPP) 1,195.00p -2.61% Aviva (AV.) 386.80p -2.54% Melrose Industries (MRO) 294.40p -2.45% GKN (GKN) 328.00p -2.32% Prudential (PRU) 1,078.00p -2.27% InterContinental Hotels Group (IHG) 1,803.00p -2.17% Vedanta Resources (VED) 1,162.00p -2.11% International Consolidated Airlines Group SA (CDI) (IAG) 286.30p -2.09% United Utilities Group (UU.) 678.50p -2.09% FTSE 250 - Risers Ocado Group (OCDO) 330.50p +5.25% Polymetal International (POLY) 755.50p +3.42% JPMorgan Indian Inv Trust (JII) 296.50p +2.60% COLT Group SA (COLT) 104.50p +2.55% Micro Focus International (MCRO) 791.50p +2.46% Domino Printing Sciences (DNO) 668.50p +2.37% Euromoney Institutional Investor (ERM) 1,202.00p +1.86% Bumi (BUMI) 217.60p +1.63% African Barrick Gold (ABG) 190.00p +1.60% Electrocomponents (ECM) 259.40p +1.37% FTSE 250 - Fallers Bwin party Digital Entertainment (BPTY) 110.00p -13.59% Evraz (EVR) 125.00p -6.72% Kazakhmys (KAZ) 301.50p -3.49% Essar Energy (ESSR) 127.50p -3.48% Imagination Technologies Group (IMG) 247.00p -3.48% Brewin Dolphin Holdings (BRW) 263.20p -3.24% Petra Diamonds Ltd.(DI) (PDL) 120.10p -3.22% Salamander Energy (SMDR) 128.00p -3.10% Wetherspoon (J.D.) (JDW) 710.00p -3.07% F&C Asset Management (FCAM) 97.00p -2.90% The Share Centre Trade Online – Just £7.50 Per Deal. Sign up in minutes. Click here to find out more. Capital at Risk. Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Stocks slide as Syria military strike looms FTSE 100: -1.10% DAX: -0.95% CAC 40: -1.10% FTSE MIB: -1.32% IBEX 35: -1.60% Stoxx 600: -0.87% European stocks ended the week lower as a slate of upbeat data failed to mitigate a slump in oil and gas shares. BP and Royal Dutch Shell were among the biggest fallers as the price of oil dropped after the UK parliament voted against supporting US-led military action in Syria. Brent Crude futures slipped $0.331 to $114.780 per barrel on Friday at 16:20. The US is set to launch a strike against Syrian President Bashar al-Assad's government for an apparent chemical weapons attack on civilians last week. The US has been trying to rally up international backers and has managed to gain the support of France. However, any military action will be held off at least until United Nations investigators report back after leaving Syria on Saturday. European, UK and US data floods market The European Commission revealed that measure of business managers’ confidence in the Eurozone’s economy improved sharply in August by 2.7 points to 95.2, the fourth consecutive monthly rise. The euro-area unemployment rate held steady in July at 12.1% in line with expectations, the European Union’s statistics office revealed. The number of jobless fell for a second month in a row last month by 15,000 to 19.23m. In the UK, GfK’s consumer sentiment index rose to -13 in August from -16 in June when it increased by 5 points. Economists had predicted an incline to -14. Economic growth accelerated to 0.7% in the three months through June, encouraging Britons to spend more, according to separate figures from the British Chambers of Commerce. In the US, the Commerce Department said consumer spending climbed 0.1% in July after a revised 0.6% in the prior month, as incomes increased 0.1%. Economists had forecast a 0.3% rise in consumer purchases, which account for about 70% of the economy. The University of Michigan’s consumer confidence index showed US optimism climbed to 82.1 from an initial reading of 80, beating forecasts for a reading of 80.5. The MNI Chicago Business Barometer, made of production, new orders, order backlogs, employment and supplier deliveries indicators, increased to 53 in August from 52.3 in July. A reading higher than 50 signals expansion. KPN, Danone Royal KPN retreated after the telecommunications company’s independent foundation exercised an option to acquire preferred shares in a bid to block America Movil SAB’s offer. Danone plunged after the French food products firm said baby-nutrition sales will fall in Asia in the third quarter. bwin.party tumbled after the online gaming company said 2013 sales will fall up to 17% lower than last year’s results as it reported a drop in first half earnings. Ferragamo gained after the Italian luxury-goods company reported first-half net income that beat analysts’ expectations. Hermes advanced as the French maker of Kelly bags posted a rise in first-half operating profit that exceeded forecasts. The euro/dollar fell 0.31% to the 1.3200 dollar mark. 7 Deadly mistakes to avoid when trading in Gold & Silver Learn how to profit consistently from Gold & Silver Trading – Click here US Market Report Stocks fall after consumer spending, confidence data Dow Jones: -0.20% Nasdaq: -0.43% S&P 500: -0.16% US markets slipped into the red in morning trade on Friday after consumer spending and confidence data failed to meet forecasts, with caution setting in ahead of the long three-day weekend. The outcome of the debate over whether to launch a military strike in Syria still remains a concern for markets after UK Prime Minister David Cameron lost an initial vote to intervene - oppositions decided to wait for firm evidence from UN inspectors on the alleged use of chemical weapons by the Bashar al-Assad regime. Meanwhile, French President Francoise Hollande signalled that he could be the main ally to the US in taking action against the Syrian government, saying that the UK vote made no difference to France's position. "In addition to traders abstaining from buying risk-on assets today, ahead of a decision regarding Syria, investors in the US will also be looking forward to a long-weekend owing to the Labour Day holiday on Monday," said Financial Trader Shavaz Dhalla from Spreadex. "Although volumes will probably get thinner over the course of today, investors should still remain cautious for any signs of a sell-off. It is entirely possible that certain investors will contemplate trimming some risk from their portfolios ahead of what is likely to be a headline-driven market next week." Economic data comes up short Consumer spending edged just 0.1% higher in July, down from a revised 0.6% gain the month before and below the 0.3% increase expected by analysts. Personal incomes only improved by 0.1% as well last month, slowing from the 0.3% rise in June and the 0.2% forecast. The core personal consumption expenditure price index meanwhile - the Federal Reserve's measure of inflation - rose by 0.1% in July, down from 0.2% in June and below the 0.2% increase expected. Paul Dales, Senior US Economist at Capital Economics, said that the July data suggests that real consumption in the third quarter may struggle to match the 1.8% growth seen in the second, especially given the recent rise in oil prices. "What’s more, the recent rise in oil prices may restrain real growth as households will pay more to buy the same amount of gasoline. At the moment, incomes aren’t rising fast enough to support faster consumption growth," he said. The closely-watched University of Michigan/Thomason Reuters consumer confidence index fell to a four-month low of 82.1 in August, pulling back from a six-year high of 85.1 the month before. Nevertheless this was still higher than the preliminary August figure of 80 and ahead of the 80.5 consensus forecast. The Chicago purchasing mangers’ index (PMI) rose from 52.3 to 53.0 in August, as expected. Krispy Kreme fails to meet forecasts Krispy Kreme Doughnuts tumbled after its second-quarter adjusted earnings came in at 14 cents a share, missing the 16 cents estimate by analysts. Revenue grew by 10% to $112.7m but also missed forecasts. Salesforce.com Inc. surged after the company issued third-quarter sales and earnings forecasts that beat analysts’ estimates. Exxon Mobil Corp. tumbled as the price of oil declined after a delay of a possible imminent strike in Syria was delayed. Get Your Free Copy of High Perfomance Trading What's covered: 35 Practical strategies and technique to enhance your trading psychology and performance. How to avoid common pitfalls of trading. Develop your mental edge through to learning to think like a successful trader. T.R.A.D.E. to Success - Goal Achievement Strategies There are no obligations. Click here for your book. Authorised and regulated by the Financial Conduct Authority No.475285 Broker Tips Antofagasta: Morgan Stanley cuts target from 830p to 810p and maintains an underweight rating. ARM Holdings: Deutsche Bank raises target from 470p to 1080p upgrading to buy. Aviva: Barcalys increases target from 294.50p to 320p, while its underweight rating remains unaltered. Bwin.Party: Investec places its target prev.: 180p under review, while its buy recommendation is kept. Cape: Investec reduces target from 375p to 360p staying with its buy recommendation. JP Morgan lowers target from 323p to 320p and keeps an overweight rating. Chime Communications: Investec ups target from 300p to 335p and retains a buy recommendation. Computacenter: Investec raises target from 550p to 575p reiterating its buy recommendation. Panmure Gordon increases target from 473p to 504p and leaves its hold recommendation unchanged. Darty: Aplhavalue shifts target from 74.90p to 74.60p downgrading from reduce to sell. DP World: HSBC takes target from 975p to 1028p maintaining a neutral rating. GoldStone Resources: WH Ireland lowers target from 9.70p to 5p and moves from buy to a speculative buy recommendation. G4S: Cantor Fitzgerald moves target from 220p to 240p and reiterates a hold recommendation. Hansteen: Jefferies shifts target from 88p to 90p keeping its hold recommendation. Hays: Numis ups target from 100p to 140p and upgrades to buy. Imperial Tabacco: UBS reduces target from 2660p to 2500p, while its buy recommendation remains unaltered. KWS: Numis initiates with a target of 175p and an add rating. Lamprell: JP Morgan moves target from 166p to 172p and leaves its neutral rating unchanged. Marshalls: Numis ups target from 140p to 175p keeping an add rating. Panmure Gordon revises target from 125p to 145p and retains a hold recommendation. Melrose: RBC Capital moves target from 300p to 325p and maintains an outperform rating. Minera IRL: Fox Davies lowers target from 48p to 36p, while staying with its buy recommendation. Pheonix Group Holdings: Morgan Stanley raises target from 564p to 790p, while leaving its equal-weight rating unchanged. Polymetal International: Citi reduces target from 698p to 612p and downgrades from neutral to sell. Publishing Technology: Westhouse Securities increases target from 360p to 475p and reiterates a buy recommendation. Restaurant Group: Panmure Gordon ups target from 560p to 600p and keeps its buy recommendation. Signet Jewelers: Deutsche Bank cuts target from 4850p to 4700p retaining a hold recommendation. Sweett Group: Westhouse Securities moves target from 50p to 58p and stays with its buy recommendation. WPP Group: Morgan Stanley takes target from 1135p to 1235p reiterating an equal-weight rating. Investec increases target from 1250p to 1325p and keeps its buy recommendation.   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

Morning Euro Markets Bulletin

ADVFN III Morning Euro Markets Bulletin Daily world financial news Friday, 30 August 2013 09:45:11 Monitor Quote Charts News CFD's Spreadbetting Free BB   Sponsored by: Trendsignal NEW Trading Strategy - Running at 70% Success Rate Our powerful trading software will help you decide when to enter trades and how to maximise profits. Click here. London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts Stocks edge lower, Syria and Fed taper in focus The FTSE 100 opened slightly lower on Friday morning after yesterday's strong gains as investors continue to await further developments in Syria and speculate about the future of US stimulus. Cautiousness ahead of a three-day weekend in the States could also be having an effect on risk appetite this morning with US markets closed on Monday for Labour Day. "Markets are holding well. Many commentators are speaking of edginess and fear. But given the distinct lack of selling and absence of sharp moves lower, this market is quite clearly more robust than it was," said Financial Trader David White from Spreadex. "With tapering, a potential conflict on the horizon and all-time highs for equities not a distant memory, prices could have reacted much more severely," he said. An upwardly-revised estimate of second-quarter economic growth in the States helped push stocks higher on Thursday as confidence in the recovery offset the increased likelihood that the Federal Reserve will taper asset purchases in September. Jobless claims also came in better than forecasts. US data will again be in focus on Friday with a number of important economic indicators due for release, including personal income and spending figures, the Chicago purchasing managers' index and the University of Michigan consumer confidence report. Worries about an imminent Western military intervention in Syria eased slightly yesterday after UK Prime Minister David Cameron lost an initial vote to take military action. Oppositions decided against the move until they see firm evidence from UN inspectors of the use of chemical weapons by the Bashar al-Assad regime. There will be a further parliamentary vote next week. The hesitance by America's main ally complicates things further for US President Barack Obama who has assured that the Syrian government will be held accountable for last week's deadly attacks. Defense Secretary Chuck Hagel meanwhile has said that the US will not act without allies. He said: “As to international effort and collaboration, it’s the goal of President Obama and this government that whatever decision is taken, there needs to be an international collaboration and effort." Resources stocks under pressure Mining and oil stocks were heavy fallers this morning as commodity prices fell across the board. Fresnillo, Randgold, ENRC, Shell and BG Group were among the worst performers early on. Anglo American was lower on reports that it could close or sell off mines at Anglo Platinum (Amplats) if the division doesn't see improving profits next year. Meanwhile, Rio Tinto was down on concerns over delays to its Simandou iron ore project in Guinea. Outsourcing giant Serco was continuing to feel the effects of a police investigation into one the "misreporting of data" in connection with it prisoner escort contract with the Ministry of Justice. Shares were lower today following an 11% drop the day before after it said it would forgo any past and future profits on the £285m contract. Chip designer ARM Holdings was a high riser this morning after Deutsche Bank upgraded the stock to 'buy' and more than doubled its target price, saying that fears of competition from Intel have been overdone. Telecoms giant Vodafone was extending gains after yesterday's impressive rise following the confirmation that it is in talks about selling its 45% stake in Verizon Wireless to US partner Verizon. The sale could generate up to $130bn for the UK group, reports have suggested. Online gaming company bwin.party was a heavy faller on the FTSE 250 after it reported a slump in half-year revenue reflecting operational issues associated with the “dotcom migration” to a single technology platform. A little known investment that could net you triple digit returns It's not gold, silver, bonds, real estate or stocks, but it is a high growth opportunity.  You can get your free report on it, here. FTSE 100 - Risers G4S (GFS) 256.70p +2.07% ARM Holdings (ARM) 892.00p +1.08% Burberry Group (BRBY) 1,544.00p +0.92% Rolls-Royce Holdings (RR.) 1,126.00p +0.90% Rexam (REX) 494.90p +0.88% British American Tobacco (BATS) 3,293.50p +0.69% Land Securities Group (LAND) 893.50p +0.62% Vodafone Group (VOD) 206.00p +0.61% British Land Co (BLND) 563.00p +0.36% Glencore Xstrata (GLEN) 309.10p +0.34% FTSE 100 - Fallers Serco Group (SRP) 530.50p -1.49% Petrofac Ltd. (PFC) 1,403.00p -1.41% Aviva (AV.) 391.70p -1.31% Fresnillo (FRES) 1,304.00p -1.29% Melrose Industries (MRO) 298.10p -1.23% GKN (GKN) 331.80p -1.19% Wolseley (WOS) 3,244.00p -1.07% InterContinental Hotels Group (IHG) 1,825.00p -0.98% Legal & General Group (LGEN) 187.10p -0.95% Royal Bank of Scotland Group (RBS) 336.00p -0.94% FTSE 250 - Risers Restaurant Group (RTN) 560.00p +3.90% Barr (A.G.) (BAG) 565.00p +1.99% Edinburgh Dragon Trust (EFM) 260.40p +1.88% Cranswick (CWK) 1,161.00p +1.84% Dechra Pharmaceuticals (DPH) 705.00p +1.51% Micro Focus International (MCRO) 784.00p +1.49% Telecom Plus (TEP) 1,371.00p +1.41% Electra Private Equity (ELTA) 2,285.00p +1.33% Crest Nicholson Holdings (CRST) 319.10p +1.30% JPMorgan Indian Inv Trust (JII) 292.70p +1.28% FTSE 250 - Fallers Bwin party Digital Entertainment (BPTY) 113.50p -10.84% Hochschild Mining (HOC) 253.10p -5.24% Salamander Energy (SMDR) 127.30p -3.63% Perform Group (PER) 516.50p -3.10% Inchcape (INCH) 583.50p -2.99% Synthomer (SYNT) 220.00p -2.91% Kazakhmys (KAZ) 305.50p -2.21% Evraz (EVR) 131.80p -1.64% Rightmove (RMV) 2,322.00p -1.48% Kenmare Resources (KMR) 26.60p -1.45% UK Event Calendar INTERIMS Alpha Bank GDR (Reg S) USD, Bilfinger Berger Global Infrastructure Sicav S.A.(DI), Bwin.party Digital Entertainment, Cathay International Holdings Ltd., Charles Taylor, Chesnara, Computacenter, Frontline Ld, Headlam Group, Heritage Oil, Independent News & Media, Lavendon Group, Marshalls, OJSC Cherkizovo Group GDR (Reg S), Perform Group, Polyus Gold International Ltd, Restaurant Group, Ruspetro, Shaft Sinkers Holdings INTERIM DIVIDEND PAYMENT DATE Blue Capital Global Reinsurance Fund Ltd (DI), Brunner Inv Trust, Independent Inv Trust, Japan Residential Investment Co Ltd., Jupiter Fund Management , Maven Income & Growth 3 VCT, Maven Income and Growth VCT 5, NB Private Equity Partners Ltd., Nichols QUARTERLY PAYMENT DATE City of London Inv Trust, Picton Property Income Ltd INTERNATIONAL ECONOMIC ANNOUNCEMENTS Balance of Payments (GER) (07:00) Business Climate Indicator (EU) (10:00) Chicago PMI (US) (13:45) Economic Sentiment Indicator (EU) (10:00) GFK Consumer Confidence (GER) (07:00) International Reserves (EU) (11:00) Personal Consumption Expenditures (US) (13:30) Personal Income (US) (13:30) Personal Spending (US) (13:30) Retail Sales (GER) (07:00) U. of Michigan Confidence (US) (15:00) Unemployment Rate (EU) (10:00) Q2 Frontline Ld SPECIAL DIVIDEND PAYMENT DATE Archipelago Resources AGMS Advanced Computer Software Group, Alternative Energy Ltd. (DI), Jubilant Energy, Naspers Ltd. ADR, Sweett Group UK ECONOMIC ANNOUNCEMENTS Consumer Confidence (09:30) Consumer Credit (09:30) GFK Consumer Confidence (00:01) Mortgage Approvals (09:30) FINAL DIVIDEND PAYMENT DATE Energy Technique, Hasgrove, JPMorgan Euro Small Co. Trust, Talisman VCT The Share Centre Trade Online – Just £7.50 Per Deal. Sign up in minutes. Click here to find out more. Capital at Risk. Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Stocks fall ahead of busy day of economic data FTSE 100: 0.25% DAX: -0.29% CAC 40: -0.35 FTSE MIB: -0.65% IBEX 35: -0.65% Stoxx 600: -0.27% European stocks slid ahead of slate of economic data including euro-area economic confidence and the unemployment rate. Euro-area economic confidence is expected to have risen to the highest level since March 2012. The index of executive and consumer sentiment jumped to 93.8 in August, from 92.5 in July, according to estimates ahead of the release of the report at 11:00 in Brussels. The Eurozone unemployment rate for July will also be unveiled and is forecast to hold steady at 12.1%. In the UK, mortgage approval figures are out and expected to come in at £58,800 in July, up from £57,700 in June. It follows overnight’s release of the GfK consumer confidence survey for August which increased by three points this month to -13, compared to analysts predictions for a rise to 14. The data comes after Bank of England’s new Governor Mark Carney on Wednesday said a renewed recovery is taking hold in the UK economy but its pace will be "more measured than rapid". Meanwhile in Germany, GfK consumer confidence figures balance of payments and retail sales reports will be in focus for Europe’s largest economy. In the US, the University of Michigan Confidence is likely to climb to 80.5 points in August from 80.0 in July, according to forecasts. The Chicago purchasing mangers’ index (PMI) report is expected to show an increase to 53 in August from the prior month’s 52.3. MPs throw out Syria intervention Markets calmed after MPs voted against possible UK military action against Syrian President Bashar al-Assad's government. The US said it would continue to consult with the UK despite the 285-272 ruling out on strikes. The world’s largest economy is planning an intervention in Syria where it believes the government used chemical weapons against civilians last week. US Defence Secretary Chuck Hagel said America would continue to seek out an "international coalition" willing to act together on the Syrian crisis. UN weapons inspectors are currently in Syria investigating the allegations of the attack, which Damascus blames on rebel forces. Ferragamo, Hermes Ferragamo gained after the Italian luxury-goods company reported first-half net income that beat analysts’ expectations. Hermes advanced as the French maker of Kelly bags posted a rise in first-half operating profit that exceeded forecasts. Royal KPN retreated after the telecommunications company’s independent foundation exercised an option to acquire preferred shares in a bid to block America Movil SAB’s offer. Danone plunged after the French food products firm said baby nutrition sales will fall in Asia in the third quarter. 7 Deadly mistakes to avoid when trading in Gold & Silver Learn how to profit consistently from Gold & Silver Trading – Click here US Market Report Stocks gain despite increased likelihood of September taper Dow Jones: 0.11% Nasdaq: 0.75% S&P 500: 0.20% An upwardly-revised estimate of second-quarter economic growth in the States helped push stocks higher on Thursday as confidence in the recovery offset the increased likelihood that the Federal Reserve will taper asset purchases in September. US gross domestic product is now said to have expanded at an annualised rate of 2.5%, well above the preliminary 1.7% estimate and ahead of the 2.2% growth analysts were expecting. Data showed that the US economy expanded at a faster pace thanks to a smaller trade deficit and inventory gains, offsetting federal budget cuts. Government spending fell by 0.9%, half a percentage point more than initially estimated. Initial jobless claims meanwhile also came in better than forecasts today, falling by 6,000 to 331,000. The consensus forecast was for 332,000. Continuous unemployment claims, which include those claims not filed for the first time, fell by 14,000 to 2.99m. Capital Economics said that the data "should give Fed officials more confidence that the recovery is gathering steam as the fiscal drag begins to fade." Meanwhile, Jeffrey Lacker, the President of the Richmond Fed and a well-known critic of quantitative easing, said that the improvements in the labour market mean that a "good case can be made" for scaling back stimulus. Syria Worries about an imminent Western military intervention in Syria eased slightly on Thursday as politicians continue to mull over whether to strike. UK Prime Minister David Cameron lost an initial vote to take military action with oppositions deciding against the move until they see firm evidence from UN inspectors of the use of chemical weapons by the Bashar al-Assad regime. There will be a further parliamentary vote next week. The hesitance by America's main ally complicates things for US President Barack Obama who has assured that the Syrian government will be held accountable for last week's deadly attacks. Defense Secretary Chuck Hagel said that the US will not act without allies: “As to international effort and collaboration, it’s the goal of President Obama and this government that whatever decision is taken, there needs to be an international collaboration and effort." Verizon looks to buy-out Vodafone in VZW Verizon gained after restarting talks with UK telecoms partner Vodafone about the possibility of buying out its stake in their US joint venture, Verizon Wireless. It is speculated that Verizon could pay as much as $130bn from the sale of the 45% interest through a mixture of cash and stock, making it the third-largest deal in history. Vodafone's ADS stock jumped strongly on the news. Fashion retailer Guess surged as a 7.1% decline in second-quarter earnings wasn't as bad as analysts had feared. The group also raised its full-year outlook for profits slightly. Airline stocks such as US Airways and Delta Air Lines were strong performers as concerns over rising jet fuel costs eased as the price of crude pulled back from a two-year high. Coca-Cola fell following news gay rights groups protested against the company over its sponsorship of the 2014 Winter Olympic Games in Russia, saying the soft drinks giant "supports hate" by staying silent towards Russia's controversial new law on gay propaganda. Campbell Soup retreated after posting a fourth-quarter loss after weaker-than expected sales, higher costs and a write-down related to its European unit. S&P 500 - Risers Garmin Ltd. (GRMN) $41.23 +4.35% D. R. Horton Inc. (DHI) $18.40 +3.55% Lennar Corp. Class A (LEN) $32.62 +3.16% PulteGroup Inc. (PHM) $15.86 +3.12% AutoNation Inc. (AN) $46.76 +3.06% Ford Motor Co. (F) $16.50 +3.00% Masco Corp. (MAS) $19.04 +2.86% Verizon Communications Inc. (VZ) $47.82 +2.71% Altera Corp. (ALTR) $35.69 +2.59% Celgene Corp. (CELG) $142.58 +2.50% S&P 500 - Fallers Peabody Energy Corp. (BTU) $17.22 -3.75% Cliffs Natural Resources Inc. (CLF) $20.97 -3.10% Campbell Soup Co. (CPB) $43.33 -3.09% J.C. Penney Co. Inc. (JCP) $12.40 -2.82% Western Digital Corp. (WDC) $60.72 -2.79% CONSOL Energy Inc. (CNX) $31.22 -2.77% Seagate Technology Plc (STX) $38.09 -2.01% Noble Corp (NE) $37.62 -1.93% Exxon Mobil Corp. (XOM) $87.27 -1.77% FMC Technologies Inc. (FTI) $53.79 -1.72% Dow Jones I.A - Risers Verizon Communications Inc. (VZ) $47.82 +2.71% Boeing Co. (BA) $104.93 +1.61% Microsoft Corp. (MSFT) $33.55 +1.61% Unitedhealth Group Inc. (UNH) $72.44 +1.26% Procter & Gamble Co. (PG) $77.31 +0.60% United Technologies Corp. (UTX) $100.46 +0.48% Travelers Company Inc. (TRV) $80.25 +0.45% Walt Disney Co. (DIS) $61.08 +0.44% Bank of America Corp. (BAC) $14.17 +0.35% American Express Co. (AXP) $72.22 +0.29% Dow Jones I.A - Fallers Exxon Mobil Corp. (XOM) $87.27 -1.77% Alcoa Inc. (AA) $7.81 -1.51% McDonald's Corp. (MCD) $94.86 -1.27% Chevron Corp. (CVX) $120.37 -1.18% Intel Corp. (INTC) $22.06 -1.01% Coca-Cola Co. (KO) $38.10 -0.65% Hewlett-Packard Co. (HPQ) $22.52 -0.40% Pfizer Inc. (PFE) $28.10 -0.39% General Electric Co. (GE) $23.11 -0.39% E.I. du Pont de Nemours and Co. (DD) $56.66 -0.23% Nasdaq 100 - Risers Vodafone Group Plc ADS (VOD) $31.80 +8.13% Garmin Ltd. (GRMN) $41.23 +4.35% Liberty Global plc Series A (LBTYA) $78.59 +3.22% Altera Corp. (ALTR) $35.69 +2.59% Equinix Inc. (EQIX) $175.86 +2.54% Celgene Corp. (CELG) $142.58 +2.50% Micron Technology Inc. (MU) $13.57 +2.49% Green Mountain Coffee Roasters Inc. (GMCR) $88.78 +2.45% Activision Blizzard Inc. (ATVI) $16.75 +2.20% Biogen Idec Inc. (BIIB) $214.13 +2.11% Nasdaq 100 - Fallers Western Digital Corp. (WDC) $60.72 -2.79% Seagate Technology Plc (STX) $38.09 -2.01% Monster Beverage Corp (MNST) $56.98 -1.18% Nuance Communications Inc. (NUAN) $18.31 -1.03% Intel Corp. (INTC) $22.06 -1.01% Mattel Inc. (MAT) $40.39 -0.81% Intuitive Surgical Inc. (ISRG) $384.60 -0.73% Dollar Tree Inc (DLTR) $53.02 -0.54% Staples Inc. (SPLS) $14.05 -0.50% Expeditors International Of Washington Inc. (EXPD) $40.45 -0.49% Get Your Free Copy of High Perfomance Trading What's covered: 35 Practical strategies and technique to enhance your trading psychology and performance. How to avoid common pitfalls of trading. Develop your mental edge through to learning to think like a successful trader. T.R.A.D.E. to Success - Goal Achievement Strategies There are no obligations. Click here for your book. Authorised and regulated by the Financial Conduct Authority No.475285 Friday Press Round-up US, Bank of England, Libya The US is prepared to act without the UK against Syria in retaliation for alleged chemical attacks after British MPs stunned their government by rejecting David Cameron’s attempts to win parliamentary support for missile strikes, the FT reports. Britain’s unemployment rate will hit 7% nine months earlier than the Bank of England is expecting, according to the British Chambers of Commerce, but this does not mean that interest rates will rise from their record low of 0.5% before 2016. Unveiling a brightening economic picture and better growth prospects for the UK, the British Chambers of Commerce said that unemployment would come down and reach the Bank’s new target in the final quarter of 2015; Threadneedle Street has pencilled this in until the end of 2016, The Times says. Libya's oil output has crashed to a near standstill over the past year as warlords and strikes paralyse the country, tightening the screws on global crude supply as the crisis in Syria comes to a head. “We are currently witnessing the collapse of state in Libya, and the country is getting closer to local wars for oil revenues,” said the Swiss-based group Petromatrix, according toThe Daily Telegraph. Five years after the collapse of Lehman and the Great Panic, the Governor of the Bank of England says the fault lines that caused the crisis have been ‘substantially repaired’. In his first national newspaper interview since succeeding Lord (Mervyn) King as governor on July 1st, Carney leaves little doubt that he saw his first duty as returning Britain to growth without breaching the Bank’s anti-inflation mandate, The Daily Mail writes. Britain's gas imports hit 1tn cubic feet in the first half of this year - the highest level on record - as North Sea production dwindled and cold weather boosted demand. Government provisional figures released on Thursday showed a 9.3% jump in gas imports in the first six months of 2013 against the same period of 2012, The Daily Telegraph reports. Growing gossip that Chevron is sniffing around Ophir Energy helped shares of the oil and gas explorer put on 4.3p to 324.3p. Dealers heard whispers that the California-based multi-national energy corporation could be looking to take a significant stake or make a full-scale cash offer for the company whose African assets are said to be worth in the region of £10 a share, according to The Daily Mail.   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, 29 August 2013 17:42:49 Monitor Quote Charts News CFD's Spreadbetting Free BB   Sponsored by: Trendsignal NEW Trading Strategy - Running at 70% Success Rate Our powerful trading software will help you decide when to enter trades and how to maximise profits. Click here. London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts Stocks jump on US data as Syria concerns recede Markets finished strongly on Thursday, rebounding after recent falls as concerns over an impending Western intervention in Syria eased slightly and US growth estimates were revised higher. One of London’s largest constituents, Vodafone, was providing a lift on the FTSE 100 today on hopes that it can secure a deal to sell its 45% stake in Verizon Wireless for well over $100bn. Some well-received results from blue chips Melrose and WPP were also boosting markets. “A much more positive session in European markets today, helped in part by the likelihood that any decision on imminent military action in Syria has receded somewhat on the basis that a political consensus may take a little longer to achieve, which could see cooler heads prevail on a knee-jerk military response,” said Senior Market Analyst Michael Hewson from CMC Markets. The FTSE 100 finished 52.99 points higher at 6,483.05, a rise of 0.82% on the day. Helping stocks this afternoon was an upwardly-revised estimate of second-quarter economic growth in the States. US gross domestic product is now said to have expanded at an annualised rate of 2.5%, well above the preliminary 1.7% estimate and ahead of the 2.2% growth analysts were expecting. Initial jobless claims from the US also came in better than forecasts today. Syria in focus as leaders hesitate on action Markets have been hit this week by concerns about a potential Western military action in Syria in response to last week's alleged chemical weapons attack that killed over a thousand civilians. While the government has denied responsibility, leaders in the US and UK have agreed that they must be held accountable. The world is now waiting for a UN report due out later this week of the findings from its chemical weapons inspection team, currently in Damascus. President Barack Obama said last night on PBS NewsHour that he has not yet decided on a course of action to take but assured that the US won't get drawn into the Syrian civil war. "We can take limited, tailored approaches, not getting drawn into a long conflict, not a repetition of, you know, Iraq, which I know a lot of people are worried about,” he said. However, he did say that retaliation for using chemical weapons would send a "pretty strong signal" to Bashar Assad's regime. The threat from disruptions to oil supplies in the Middle East (in the event of action against Syria) had sparked a surge in crude prices - West Texas futures jumped to its highest level in over two years yesterday - which risks eroding growth prospects for the global economy. Oil prices however pulled back today, easing the downward pressure on stocks. Fears over a looming Western intervention also lessened today after UK Prime Minister David Cameron backed down from taking a vote on military action, as Labour leader Ed Miliband demanded “compelling evidence” from UN inspectors on the use of chemical weapons before making a move. FTSE 100: Vodafone surges as talks resume with Verizon Telecoms group Vodafone, one of the biggest companies in terms of market capitalisation on the FTSE 100, was a high riser after confirming that it has restarted talks with partner Verizon about the possibility of selling its stake in their US joint venture, Verizon Wireless. It is speculated that Vodafone could receive as much as $130bn from the sale of the 45% interest through a mixture of cash and stock, making it the third-largest deal in history. Engineering investment firm Melrose Industries also jumped after seeing revenues and profits more than double in the first half as results were boosted by Elster - the gas, electricity and water measurement business it acquired last year. Advertising and media giant WPP was also making decent gains after revealing a 19% increase in half year pre- tax profit as slowing growth rates among emerging markets were eclipsed by a strong performance among mature markets like North America and the UK. Airline peers IAG and easyJet were also higher, rebounding as oil prices edged lower. The recent surge in crude had sparked worries over rising jet fuel costs for the travel industry. Leading the downside was outsourcing group Serco which dropped 11% after it was revealed that it is under investigation by the City of London police in regards to a "misreporting of data" by a number of employees. Serco said it will forgo any past and future profits on the £285m contract to escort prisoners to and from court. Investors were largely ignoring a strong first-half report by the company this morning which showed a 10.5% rise in first-half adjusted profits. Insurance firm Admiral was also lower after its first-half results as markets were underwhelmed by a 6% rise in profits and an 8% increase in the interim dividend. Education and publishing group Pearson was hit by a downgrade by Deutsche Bank this morning to 'sell' on the back of its exposure to a rapidly changing industry in the face of improving technology. In contrast, building materials firm Travis Perkins was higher after Citigroup upgraded it to 'buy', saying it is a good way to play the improving performance of the UK housing market. FTSE 250: Salamander rockets after first-half results Asia-focused oil and gas group Salamander Energy saw shares surge after impressing investors with its first-half report and maintaining its full-year production guidance. Salamander managed to increase output by 39% year-on-year to 14,900 barrels of oil equivalents per day in the first half despite some disappointment earlier in the year regarding a drilling programme offshore Indonesia. Elsewhere, the firm said that development of the Bualuang field off Thailand is running ahead of expectations. EVRAZ, the Russian steel group, was performing well despite swinging to a half-year loss on the back of weak pricing as investors welcomed its announcement to scale back capital expenditure for the full year. Bus and train operator Stagecoach gained after saying trading overall since the start of the fiscal year May 1st has been good and its prospects remain positive driven by its regional bus business and operations in the US. A little known investment that could net you triple digit returns It's not gold, silver, bonds, real estate or stocks, but it is a high growth opportunity.  You can get your free report on it, here. FTSE 100 - Risers Vodafone Group (VOD) 204.75p +8.16% Melrose Industries (MRO) 301.80p +6.12% WPP (WPP) 1,227.00p +4.16% easyJet (EZJ) 1,259.00p +3.88% GKN (GKN) 335.80p +3.61% Petrofac Ltd. (PFC) 1,423.00p +3.49% CRH (CRH) 1,379.00p +3.45% Aggreko (AGK) 1,625.00p +3.37% InterContinental Hotels Group (IHG) 1,843.00p +3.08% Fresnillo (FRES) 1,321.00p +2.56% FTSE 100 - Fallers Serco Group (SRP) 538.50p -11.21% Antofagasta (ANTO) 849.00p -2.92% Pearson (PSON) 1,280.00p -2.74% Vedanta Resources (VED) 1,187.00p -1.82% BG Group (BG.) 1,245.00p -1.78% Randgold Resources Ltd. (RRS) 5,105.00p -1.73% Admiral Group (ADM) 1,270.00p -1.55% Anglo American (AAL) 1,507.00p -1.54% Amec (AMEC) 1,050.00p -1.13% Glencore Xstrata (GLEN) 308.05p -1.06% FTSE 250 - Risers Hochschild Mining (HOC) 267.10p +13.66% Salamander Energy (SMDR) 132.10p +10.08% Evraz (EVR) 134.00p +7.46% Stagecoach Group (SGC) 327.80p +6.64% Thomas Cook Group (TCG) 141.00p +6.33% Anite (AIE) 116.80p +5.13% Centamin (DI) (CEY) 43.00p +4.80% Polymetal International (POLY) 730.50p +4.66% Greene King (GNK) 837.50p +4.17% African Barrick Gold (ABG) 187.00p +3.95% FTSE 250 - Fallers Xaar (XAR) 830.00p -4.54% Hunting (HTG) 831.50p -4.21% F&C Asset Management (FCAM) 99.90p -2.92% Diploma (DPLM) 605.50p -2.89% Ferrexpo (FXPO) 168.20p -2.49% EnQuest (ENQ) 124.50p -2.12% Berendsen (BRSN) 870.00p -2.08% Devro (DVO) 316.80p -1.86% Dairy Crest Group (DCG) 505.00p -1.75% Lonmin (LMI) 344.10p -1.71% The Share Centre Trade Online – Just £7.50 Per Deal. Sign up in minutes. Click here to find out more. Capital at Risk. Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Stocks jump on upbeat US data FTSE 100: 0.93% DAX: 0.37% CAC 40: 0.67% FTSE MIB: 0.97% IBEX 35: 0.40% Stoxx 600: 0.77% European stocks rose following upbeat US data and as the UK’s plans for a military strike were delayed. The central bank has said it would start trimming stimulus once the economy picks up enough with economists predicting the Fed to make its move in September. In Germany, a report showed unemployment unexpectedly rose in August by a seasonally adjusted 7,000 to 2.95m, the Nuremberg-based Federal Labor Agency revealed on Thursday. Analysts had forecast a drop by 5,000 compared to last month’s decline of 7,000. Syria strike delayed UK Prime Minister David Cameron has seemingly backed down on plans for military action in Syria after opposing lawmakers warned the leader of the "lessons of Iraq". Opposition leaders reminded Cameron of when Britain helped the US to invade Iraq after asserting that President Saddam Hussein possessed weapons of mass destruction which later turned out to be wrong. The UK and other Western governments are now mulling over an intervention in Syrian after US leaders accused the country’s regime of using chemical weapons against civilians last week. United Nations inspectors are currently investigating the allegations against the Syrian regime which is expected to last until Friday. UN Secretary-General Ban Ki-moon said the team, which arrived in Syria on August 18th, would report to him as soon as they leave the country on Saturday morning following their investigation. Reports that military action will be delayed at least several days while the case is laid out to US and UK lawmakers helped to soothe markets. Vodafone is top riser Vodafone advanced after saying Verizon Communications is in talks to buy its stake in the Verizon Wireless venture. Baloise Holding gained after the Swiss insurer reported an increase in first half net income and said it was on track to meet financial targets. Carrefour SA surged after reporting a 4.9% increase in first-half profit. WPP edged higher after the advertising company said first-half sales increased 7.1%, driven by strong performance in the UK and North America. Serco Group slumped after confirming that the UK Ministry of Justice has called police over the misreporting of data by "a small number of employees" associated with Serco's Prisoner Escort and Custody Services contract. Zurich Insurance Group plunged after announcing Chairman Josef Ackermann will resign with immediate effect. Vienna Insurance Group declined after Austria’s biggest insurer reported second-quarter pre-tax profit that fell short of analysts’ estimates. Brent crude snaps rally Brent crude futures pulled back from two-year highs, falling $0.500 to $116.030, following reports of a delay in military action by the West in Syria. The euro/dollar fell 0.88% to the 1.3222 dollar mark. 7 Deadly mistakes to avoid when trading in Gold & Silver Learn how to profit consistently from Gold & Silver Trading – Click here US Market Report  Stocks rise on upbeat GPD and jobless reports US stocks advanced as gross domestic product in the second quarter accelerated faster than expected and as jobless benefit claims fell in line with forecasts. GDP grew at a 2.5% annual rate in the April to June period, according to revised estimates from the Commerce Department. The government had initially reported that GDP had expanded at a 1.7% rate. Economists had forecast the revised estimate to come in at a 2.2%. GDP was boosted by recent trade data which showed that exports climbed during the period at their fastest pace in over two years. Separately, US jobless claims in the week ended August 24th fell 6,000 to 331,000 from a revised 337,000 a week earlier, the Labor Department said. The upbeat data might provide the Federal Reserve with an excuse to begin scaling back its $85bn per month in bond purchases at its next meeting in September. The central bank has said it would start trimming stimulus once the economy picks up enough. Meanwhile, the US and other Western governments are mulling over military action in Syria. The Syrian regime has been accused of using chemical weapons against civilians which left about 300 dead last week. United Nations inspectors are currently investigating the allegations against the Syrian regime which is expected to last until Friday. UN Secretary-General Ban Ki-moon said the team, which arrived in Syria on August 18th, would report to him as soon as they leave the country on Saturday morning following their investigation. Fears over a potential intervention have pushed the price of oil in the US to a two-year high this week. The price fell back to around $109 per barrel on the NYMEX on Thursday after crude stockpiles in the US rose more than expected. Soothing Syria concerns on Thursday was news that action will be delayed at least several days while the case is laid out to US and UK lawmakers. The 10-year US yield has increased from a low of 2.720% on Tuesday to 2.780% on Thursday, suggesting that investors were calming down. Turning to company news, Campbell Soup retreated after posting a fourth quarter loss after weaker-than expected sales, higher costs and a write-down related to its European unit. Verizon Communications gained in pre-market New York trading as Vodafone Group said the companies are in talks over the sale of a stake in their Verizon Wireless venture. Guess rallied after reporting second-quarter adjusted earnings per share that beat analysts’ estimates. Coca-Cola fell following news gay rights groups protested against the company over its sponsorship of the 2014 Winter Olympic Games in Russia, saying the soft drinks giant "supports hate" by staying silent towards Russia's controversial new law on gay propaganda. Get Your Free Copy of High Perfomance Trading What's covered: 35 Practical strategies and technique to enhance your trading psychology and performance. How to avoid common pitfalls of trading. Develop your mental edge through to learning to think like a successful trader. T.R.A.D.E. to Success - Goal Achievement Strategies There are no obligations. Click here for your book. Authorised and regulated by the Financial Conduct Authority No.475285 Broker Tips Afren: Westhouse Securities shifts target from 160p to 165p and reiterates a buy recommendation. BAE Systems: Bank of America aises target from 328p to 412p, while staying with its underperform rating. Cape: JP Morgan takes target from 308p to 323p and stays with its overweight rating. Carillion: Liberum Capital moves target from 260p to 280p, while its hold recommendation remains unchanged. Chemring: JP Morgan increases target from 300p to 325p and maintains an overweight rating. Close Brothers Group: Panmure Gordon initiates with a target of 1105p and a buy recommendation. Darty: N+1 Singer ups target to 85p, while downgrading from buy to hold. Diageo: JP Morgan revises target from 2150p to 2200p and retains an overweight rating. G4S: Exane moves target from 240p to 260p staying with its neutral rating. Hunting: JP Morgan takes target from 727p to 752p, while leaving its underweight rating unaltered. IMI: HSBC increases target from 1530p to 1675p, while downgrading to neutral. Imperial Tabacco Group: Investec moves target from 2440p to 2475p reiterating a buy recommendation. Inmarsat: JP Morgan raises target from 750p to 800p maintaining its overweight rating. International Personal Finance: Panmure Gordon initiates with a target of 700p and a buy recommendation. Kentz Corporation: HSBC ups target from 600p to 615p retaining a neutral rating. Liberum Capital revises target from 590p to 610p and keeps its hold recommendation. Lamprell: JP Morgan shifts target from 164p to 166p and stays with its neutral rating. Meggitt: Bank of America moves target from 550p to 570p reiterating its buy recommendation. Melrose: Investec revises target from 300p to 315p and keeps a buy recommendation. Office2Office: Panmure Gordon lowers target from 68p to 57p, while upgrading from hold to buy. WH Ireland cuts target from 100p to 60p and retains an outperform rating. Ophir Energy: JP Morgan reduces target from 550p to 460p, while leaving its overweight rating unchanged. Paragon: Panmure Gordon initiates with a target of 390p and a buy recommendation. Pearson: Deutsche Bank cuts target from 1225p to 1000p downgrading from hold to sell. Playtech: Investec takes target from 600p to 690p and retains a hold recommendation. Provident Financial: Panmure Gordon initiates with a target of 1700p and a hold recommendation. Rotork: HSBC ups target from 2600p to 2650p, while leaving its underweight rating unchanged. Shire: Berenberg moves target from 2250p to 2350p keeping a hold recommendation. Smiths Group: HSBC reduces target from 1550p to 1400p and downgrades to neutral. SOCO International: JP Morgan lowers target from 417p to 413p keeping its neutral rating. Stagecoach: Investec shifts target from 320p to 325p retaining an add rating. Travis Perkins: Citi upgrades from neutral to buy with a target of 1745p. Ultra Electronics: Bank of America ups target from 1960p to 2050p and keeps a buy recommendation. UNITE Group: Numis takes target from 381p to 415p, while downgrading from buy to add. Wolseley: Citi increases target from 3400p to 3600p and upgrades from neutral to buy. WPP Group: Investec places its target prev.: 1250p under review keeping its buy recommendation. Xaar: Investec raises target from 840p to 920p maintaining an add 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