| | | | | | | | | | | |
| | London Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | Markets pause after strong rise It was a subdued start for equity markets in London on Friday with the FTSE 100 opening broadly flat as investors adopted a cautious approach going into the long weekend.
Stocks were pausing for breath early on after a strong rise the day before on the back of improving economic data from across the globe.
Manufacturing data from China, the Eurozone and US all improved in August with the Chinese sector specifically unexpectedly returning to growth this month. Meanwhile in the States, jobless claims rose but remained near a six-year low and an index of leading economic indicators beat expectations.
Nevertheless, it has been a choppy week for financial markets - US bond yields hit two-year highs, emerging-market currencies came under pressure - as traders awaited the minutes of the latest Federal Reserve meeting out on Wednesday evening.
The statement itself however was rather underwhelming with the Fed failing to shed any more light on a timeframe for the central bank's imminent tapering of quantitative easing. Policymakers said they were "broadly comfortable" with the plan to taper stimulus by the end of the year, as they have said in the past.
Analysts expect markets to remain volatile and sensitive to economic data over the next few weeks in anticipation of the next policy meeting in September, with most now predicting a slight reduction in asset purchases to begin next month.
Croda gains after broker upgrade
Speciality chemicals firm Croda International was a high riser this morning after Deutsche Bank upgraded the stock to 'buy' and hiked its target from 2,400p to 2,850p.
Mining stocks such as Antofagasta, Fresnillo, Randgold and Anglo American were in demand as metals prices edged higher.
BHP Billiton however was lower on the news that it has handed Chief Executive Andrew Mackenzie, who has been on the job for just three months, a £4.6m bonus.
Banking stocks were under pressure this morning after Moody's warned last night that it had placed ratings on the six-largest US banks on review for a possible downgrade. Barclays and RBS were among the worst performers in London today.
Oil and gas group Afren was in the red this morning after first-half profits sunk 16% year-on-year due to one-off costs. Nevertheless, revenues rose 2% despite a dip in the oil price as production grew strongly. |
| | 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
Croda International (CRDA) 2,646.00p +3.08%
Prudential (PRU) 1,143.00p +1.96%
Antofagasta (ANTO) 923.50p +1.71%
Carnival (CCL) 2,516.00p +1.70%
Morrison (Wm) Supermarkets (MRW) 289.60p +1.19%
Randgold Resources Ltd. (RRS) 5,100.00p +1.19%
Anglo American (AAL) 1,519.50p +1.00%
Johnson Matthey (JMAT) 2,842.00p +0.99%
ARM Holdings (ARM) 886.00p +0.85%
Fresnillo (FRES) 1,225.00p +0.82%
FTSE 100 - Fallers
Reckitt Benckiser Group (RB.) 4,473.00p -1.02%
GKN (GKN) 342.60p -0.78%
CRH (CRH) 1,393.00p -0.71%
Unilever (ULVR) 2,511.00p -0.67%
Barclays (BARC) 282.90p -0.63%
Diageo (DGE) 1,996.50p -0.60%
Amec (AMEC) 1,076.00p -0.55%
Aberdeen Asset Management (ADN) 359.90p -0.47%
Legal & General Group (LGEN) 197.30p -0.45%
Capita (CPI) 987.00p -0.40%
FTSE 250 - Risers
Menzies(John) (MNZS) 758.00p +2.85%
Crest Nicholson Holdings (CRST) 338.40p +2.48%
BH Global Ltd. USD Shares (BHGU) 11.85 +2.16%
Keller Group (KLR) 1,107.00p +2.03%
African Barrick Gold (ABG) 162.50p +1.94%
Renishaw (RSW) 1,729.00p +1.83%
Sports Direct International (SPD) 661.50p +1.77%
Salamander Energy (SMDR) 123.50p +1.56%
Redrow (RDW) 230.00p +1.55%
Evraz (EVR) 121.50p +1.50%
FTSE 250 - Fallers
Afren (AFR) 141.70p -2.88%
Bumi (BUMI) 205.00p -2.38%
United Drug (UDG) 338.20p -1.69%
ITE Group (ITE) 292.30p -1.42%
Carpetright (CPR) 665.00p -0.82%
Diploma (DPLM) 631.50p -0.79%
NB Global Floating Rate Income Fund Ltd GBP (NBLS) 106.20p -0.75%
Hikma Pharmaceuticals (HIK) 1,081.00p -0.73%
Carillion (CLLN) 288.00p -0.62%
COLT Group SA (COLT) 99.40p -0.60% |
| | UK Event Calendar | | INTERIMS
Afren, Henry Boot, Plaza Centers NV
INTERIM DIVIDEND PAYMENT DATE
Aberdeen UK Tracker Trust, B.P. Marsh & Partners, Microgen, Throgmorton Trust
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Consumer Confidence Indicator (EU) (10:00)
New Homes Sales (US) (15:00)
GMS
Securities Trust of Scotland
ANNUAL REPORT
Abbey, NWF Group, Renishaw
EGMS
Datang International Power Generation Co Ltd.
AGMS
Sports Direct International
UK ECONOMIC ANNOUNCEMENTS
BBA Mortgage Lending Figures (09:30)
GDP (output, income & expenditure) (09:30)
Index of Services (09:30)
FINAL DIVIDEND PAYMENT DATE
Aberdeen New Dawn Inv Trust, Atkins (WS), Heath (Samuel) & Sons, Immunodiagnostic Systems Holdings, Latham (James), SABMiller, Scapa Group |
| | 7 Deadly mistakes to avoid when trading in Gold & Silver | | Learn how to profit consistently from Gold & Silver Trading – Click here |
| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Stocks fall ahead of economic data
FTSE 100: -0.36
DAX: -0.32%
CAC 40: -0.75%
FTSE MIB: -0.41%
IBEX 35: -0.29%
Stoxx 600: -0.32%
European stocks declined ahead of a raft of economic data including euro-area consumer confidence and US home sales.
A European Commission report is expected to show euro-area consumer sentiment rose to the highest level in two years in August. An index of household confidence is projected to increase to minus 16.5 from minus 17.4 in July.
The US Commerce Department will release new-home sales which is anticipated to show a 2% fall in July to an annualised pace of 487,000 houses, from a 497,000 rate a month earlier.
In the UK, the British Bankers' Association will unveil its Mortgage Lending Figures.
The number of mortgages approved by banks to home buyers is forecast to climb to 39,400 loans in July from the previous month’s 17-month high of 37,278 loans.
Gross domestic product figures for the UK’s output, income and expenditure is expected to hold steady at 0.6% for the second quarter.
Germany’s Q2 growth led by investments
Germany’s second quarter economic growth climbed 0.7% in line with estimates.
The Federal Statistics Office in Wiesbaden said a pick-up in consumption and a rebound in investment helped stimulate recovery.
Capital investment jumped 1.9% from the three months through March, the first expansion in three quarters, and consumption increased 0.5%.
Afren, ING
Afren plunged after the oil explorer said first-half net income dropped to $79.6m from $100.7m.
ING gained after Morgan Stanley raised its rating on the shares to ‘overweight’ from ‘equal weight’.
Croda rallied after Deutsche Bank lifted its recommendation on the maker of cosmetic ingredients to ‘buy’ from ‘hold’.
Other asset classes tumble
The euro/dollar slipped 0.10% to the 1.33243 dollar mark.
Brent crude futures fell $0.082 to 109.810 per barrel on the ICE.
|
| | 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. |
| | US Market Report | | Stocks rebound as global data improves Dow Jones: 0.45%
Nasdaq: 1.09%
S&P 500: 0.86%
Decent economic data from across the globe helped US markets rebound on Thursday after being hit by an underwhelming set of minutes from the Federal Reserve the day before, with the Dow Jones snapping a six-day losing streak, its longest string of losses so far this year.
Even the Nasdaq finished with decent gains on Thursday after trading resumed after a three-hour halt as a result of a computer error.
Manufacturing data from China, the Eurozone and US all improved in August with the Chinese sector unexpectedly returning to growth this month. Meanwhile in the States, jobless claims rose but remained near a six-year low and an index of leading economic indicators beat expectations.
FOMC minutes still in focus
Minutes from the Federal Open Market Committee's July 30-31st meeting released Wednesday night failed to shed any more light on a timeframe for the central bank's imminent tapering of quantitative easing.
Policymakers said they were "broadly comfortable" with the plan to taper stimulus by the end of the year, as they have said in the past, with the labour market having "improved substantially" and economic growth expected to "strengthen further" in the second half.
“While it's far from a certainty, the minutes from the FOMC meeting back in late July appear to support our view that the Fed will begin to slow its monthly asset purchases at the next meeting in mid-September,” according to Paul Ashworth, Chief US Economist at Capital Economics. Ashworth suspects that officials may begin with an initial reduction of $10bn to $75bn.
President of the Federal Reserve bank of Boston, Eric Rosengren, said any tapering should be "limited” in an interview with The Wall Street Journal after the release of the minutes on Wednesday. He said he was still forming a judgment about whether the economy was improving as expected. "This is a good time to be patient and very watchful," Rosengren said.
HP drops as results disappoint
Shares of PC maker Hewlett Packard plunged following the release of its latest quarterly results after last night's close. The company's guidance for the fourth quarter failed to meet analysts' forecasts and said that revenue growth next year is unlikely.
It came alongside poor results out from the likes of Stage Stores, Hormel Foods, Sears and the iconic fashion-retailer Abercrombie&Fitch.
Wells Fargo gained following reports it would lay-off 2,300 people in its mortgage production unit.
According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage rose to 4.37% in July from 4.07% in June, and is the highest since July 2011 when it was 4.55%; the rate was 3.55% in July 2012.
Acting as a backdrop, of the 483 companies in the S&P 500 that have reported quarterly earnings this period, 71% surpassed profit estimates, Bloomberg data shows. Company earnings are one of the relatively few bright spots although some analysts believe it will be a few months yet before they may translate into higher equity prices.
Conference Board index rises
The Conference Board’s Leading Economic Index rose 0.6% in July to 96.0 following no change in June, and a 0.3% increase in May. It beat economists’ forecasts for a 0.5% increase.
Ataman Ozyildirim, Economist at The Conference Board, said there were widespread gains among the LEI's components. "The pace of the LEI’s growth over the last six months has nearly doubled, pointing to a gradually strengthening expansion through the end of the year," Ozyildirim said.
The number of claims in the month ended August 17th dropped to 330,500 a week on average, the least since November 2007, according to a Labor Department report. In the week to August 17th however, claims rose by 13,000 to 336,000, though this was more or less in line forecasts.
The FHFA house-price index increased by 0.7% month-on-month in June, down from revised 0.8% growth in May but ahead of the 0.6% increase expected.
The 'flash' US manufacturing purchasing managers' index rose this month from 53.7 to 53.9 as growth picked up, though this slightly missed the consensus forecast of 54.2.
S&P 500 - Risers
GameStop Corp. (GME) $51.91 +9.01%
Peabody Energy Corp. (BTU) $17.62 +6.21%
Cliffs Natural Resources Inc. (CLF) $22.44 +5.80%
Best Buy Co. Inc. (BBY) $35.20 +4.30%
Electronic Arts Inc. (EA) $27.78 +4.20%
Marathon Petroleum Corporation (MPC) $74.86 +4.19%
CONSOL Energy Inc. (CNX) $32.78 +4.13%
FMC Technologies Inc. (FTI) $54.72 +3.93%
Whirlpool Corp. (WHR) $136.86 +3.92%
Cabot Oil & Gas Corp. (COG) $38.88 +3.90%
S&P 500 - Fallers
Abercrombie & Fitch Co. (ANF) $38.53 -17.67%
Hewlett-Packard Co. (HPQ) $22.22 -12.45%
Sears Holdings Corp. (SHLD) $39.72 -8.20%
NASDAQ OMX Group Inc. (NDAQ) $30.46 -3.42%
Patterson Companies Inc. (PDCO) $40.65 -2.40%
L Brands Inc (LTD) $58.60 -2.09%
Target Corp. (TGT) $64.24 -1.92%
Gap Inc. (GPS) $42.01 -1.57%
PG & E Corp. (PCG) $41.43 -1.45%
Staples Inc. (SPLS) $14.07 -1.37%
Dow Jones I.A - Risers
Microsoft Corp. (MSFT) $32.39 +2.47%
Alcoa Inc. (AA) $8.03 +2.42%
Bank of America Corp. (BAC) $14.57 +1.60%
Caterpillar Inc. (CAT) $84.17 +1.48%
Travelers Company Inc. (TRV) $80.55 +1.42%
United Technologies Corp. (UTX) $102.96 +1.24%
Boeing Co. (BA) $105.14 +1.18%
JP Morgan Chase & Co. (JPM) $52.21 +1.12%
3M Co. (MMM) $114.67 +1.10%
AT&T Inc. (T) $33.82 +1.02%
Dow Jones I.A - Fallers
Hewlett-Packard Co. (HPQ) $22.22 -12.45%
Johnson & Johnson (JNJ) $88.26 -0.61%
Verizon Communications Inc. (VZ) $47.02 -0.53%
Pfizer Inc. (PFE) $28.16 -0.28%
Cisco Systems Inc. (CSCO) $24.01 -0.25%
Wal-Mart Stores Inc. (WMT) $73.46 -0.12%
Nasdaq 100 - Risers
Yahoo! Inc. (YHOO) $27.90 +3.10%
F5 Networks Inc. (FFIV) $87.69 +2.71%
Vertex Pharmaceuticals Inc. (VRTX) $78.40 +2.69%
Baidu Inc. (BIDU) $139.54 +2.61%
Dollar Tree Inc (DLTR) $53.13 +2.49%
Microsoft Corp. (MSFT) $32.39 +2.47%
Akamai Technologies Inc. (AKAM) $47.30 +2.18%
Regeneron Pharmaceuticals Inc. (REGN) $237.35 +2.14%
Citrix Systems Inc. (CTXS) $73.23 +2.13%
Viacom Inc. Class B (VIAB) $79.59 +2.13%
Nasdaq 100 - Fallers
Sears Holdings Corp. (SHLD) $39.72 -8.20%
Staples Inc. (SPLS) $14.07 -1.37%
Vodafone Group Plc ADS (VOD) $29.59 -0.60%
Twenty-First Century Fox Inc Class A (NWSA) $15.71 -0.32%
Altera Corp. (ALTR) $34.58 -0.26%
Cisco Systems Inc. (CSCO) $24.01 -0.25%
Xilinx Inc. (XLNX) $44.30 -0.07% |
| | 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 newspaper round-up | | Currency intervention, F&C, Home-buyers Brazil’s central bank said it will launch a currency intervention programme worth about $60bn to ensure liquidity and reduce volatility in the nation’s foreign exchange market. The programme, which will be conducted through currency swap and repurchase agreements, follows a more than 15 per cent depreciation in the real against the dollar this year to its weakest levels in more than four years, the FT says.
Britain’s car-building boom is set to shift into top gear because of the recovery in European consumer markets, experts are predicting. Last month Britain made 128,873 cars — an increase of 7% on July last year. That takes the number produced this year to 893,263, up nearly 2%, putting the country on track to make 2.2m vehicles in 2016, which the Society of Motor Manufacturer and Traders says will overtake Britain’s output record set in 1972, according to The Times.
Tensions along the Israeli-Lebanese border rose on Friday after Israel’s military said it had struck a site in southern Lebanon overnight in response to four rockets fired into its territory on Thursday, the FT writes.
Two fifths of home buyers face paying at least £7,500 in ‘punitive’ stamp duty by 2018 if house prices continue to rise at their current pace, a pressure group warned today. The TaxPayer’s Alliance said increases in property values in England and Wales meant four out of five homes would be liable for stamp duty come 2018 if they were sold again. And it warned 40% will be subject to stamp duty of at least 3% adding a minimum of £7,500 to the cost of moving home, The Daily Mail explains. Ed Bramson, the corporate raider, has resigned as chairman of F&C Asset Management, bringing down the curtain on his three-year campaign to extract value from the venerable but laggardly fund management firm. Analysts estimated he had doubled his money since targeting F&C in August 2010, successfully laying siege to the company, kicking out key board members and pruning costs, The Times reports.
US stock exchanges halted all trading in companies listed on the Nasdaq on Thursday after a "serious" technical issue stopped it from quoting share prices accurately. Apple, Facebook and Microsoft were all affected by the sudden freeze, which struck at 12:14PM. Partial trading resumed at 2:45PM; and the exchange was back online completely by 3:25PM. The Nasdaq is America’s second-largest stock exchange behind the New York Stock Exchange. According to BATS Global Markets it has accounted for 28pc of all shares traded so far this | | |
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 | |
No comments:
Post a Comment