Evening Euro Markets Bulletin

ADVFN III Evening Euro Markets Bulletin Daily world financial news Friday, 29 November 2013 17:39:21 Monitor Quote Charts News CFD's Spreadbetting Free BB   Sponsored by: Capital Spreads Straight talking from Capital Spreads Enjoy tight spreads, 3500+ financial markets to trade and superb client service. Losses can exceed deposits. Find out more. London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London close: FTSE 100 flat despite gains in banking sector - Markets flat despite banking strength - Volumes pick up but still on the low-side - German, US markets continue to set new highs techMARK 2,673.94 +0.22% FTSE 100 6,650.57 -0.06% FTSE 250 15,466.56 +0.23% UK markets finished broadly flat on Friday despite trading volumes picking up slightly following a quiet day yesterday, as investors turned cautious before the weekend and month-end. Even though there were some strong gains in the banking sector, the FTSE 100 was 3.9 points lower at 6,650.57 by the close, meaning that index finished down 80.86 (-1.2%) for the month of November. In contrast, the DAX 30 in Germany continued to set new all-time highs today with sentiment being lifted by an unexpected dip in Eurozone unemployment last month. The jobless rate in the single currency region fell to 12.1% in October from a record high of 12.2% US stocks also started strongly today as Wall Street re-opened after Thanksgiving with retail stocks lifting benchmarks to new highs on what is set to be a shortened trading session as Black Friday takes place. Retailers are hoping that customers will be enticed with special deals to mark the start to the holiday shopping season. The Dow Jones Industrial Average and S&P 500 look set to close at fresh records when Wall Street closes at 13:00 Eastern time. “This week could be seen as the calm before the storm, with a huge amount of data being released next week, including the big daddy itself, the non-farm payrolls figure,” said Market Analyst Craig Erlam from Alpari. “This could potentially be the difference between a Fed taper in December or the first quarter of 2014. We also have a few central bank meetings, making next week a massive one for the markets,” he said. Banks climb on capital hopes Banking stocks closed mostly higher today after the Prudential Regulation Authority eased capital rules slightly for lenders. The new regulations will allow banks to count a broader range of capital instruments in calculating their capital buffers than had originally been estimated. Meanwhile, analysts at Investec said today that Thursday’s changes to the Funding for Lending Scheme by the Bank of England – to focus on business lending rather than mortgages – will lead to an increase in mortgage pricing, “but that’s good news for the banks”. Barclays was a strong performer today with Investec reportedly saying that concerns over further capital issuance at the bank in 2014 should “all but evaporate”. Lloyds and Standard Chartered also finished higher, while HSBC fell into the red. Housebuilders were in the red again for the second day after the government announced yesterday that it would be changing its Funding for Lending Scheme to focus on small businesses, rather than mortgage lending. Persimmon, Taylor Wimpey, Bellway and Barratt Developments were all extending losses. Credit checking group Experian was also trading lower this morning after analysts at Goldman Sachs downgraded their rating on the stock to 'sell' and cut their target from 1,220p to 985p. Finnish nickel miner Talvivaara Mining's share price rocketed by over 40% after its application for a court-supervised restructuring to avoid bankruptcy was accepted. Speedy Hire plummeted after its Chief Executive resigned following the revelation of a £5m hole in its books. Advfn exclusive complimentary seminar – Tuesday 3rd December 6 – 8pm -  Whether you are looking to make a direct investment or to invest your pension fund, this free seminar will explain how you can enjoy double digit returns from property investment in London and the South. Click here to register FTSE 100 - Risers Barclays (BARC) 271.70p +2.30% Randgold Resources Ltd. (RRS) 4,346.00p +1.99% Aggreko (AGK) 1,605.00p +1.97% AstraZeneca (AZN) 3,513.50p +1.78% Whitbread (WTB) 3,567.00p +1.36% William Hill (WMH) 385.60p +1.18% easyJet (EZJ) 1,424.00p +0.92% Babcock International Group (BAB) 1,310.00p +0.92% London Stock Exchange Group (LSE) 1,627.00p +0.74% Travis Perkins (TPK) 1,796.00p +0.73% FTSE 100 - Fallers Experian (EXPN) 1,127.00p -2.76% Anglo American (AAL) 1,349.00p -1.89% Royal Bank of Scotland Group (RBS) 327.20p -1.71% SSE (SSE) 1,327.00p -1.63% BAE Systems (BA.) 427.40p -1.29% Wolseley (WOS) 3,297.00p -1.20% Resolution Ltd. (RSL) 342.10p -1.18% Vedanta Resources (VED) 885.00p -1.17% Rexam (REX) 499.60p -1.07% Weir Group (WEIR) 2,142.00p -1.06% FTSE 250 - Risers IP Group (IPO) 192.00p +5.49% Computacenter (CCC) 670.00p +4.20% Marston's (MARS) 149.70p +4.18% Euromoney Institutional Investor (ERM) 1,243.00p +4.02% Crest Nicholson Holdings (CRST) 357.00p +3.48% Betfair Group (BET) 1,043.00p +3.27% Carpetright (CPR) 602.00p +3.26% Rentokil Initial (RTO) 106.10p +3.21% Michael Page International (MPI) 475.00p +3.10% UDG Healthcare Public Limited Company (UDG) 313.00p +3.06% FTSE 250 - Fallers Cranswick (CWK) 1,141.00p -2.89% Enterprise Inns (ETI) 138.00p -2.75% Hochschild Mining (HOC) 142.10p -2.34% Polymetal International (POLY) 533.50p -1.84% Perform Group (PER) 439.00p -1.79% Menzies(John) (MNZS) 777.00p -1.65% Fidessa Group (FDSA) 2,113.00p -1.54% Smith (DS) (SMDS) 305.50p -1.52% NMC Health (NMC) 407.30p -1.50% Big Yellow Group (BYG) 478.80p -1.48% 40% Returns from unusual but proven industry Download your FREE Investment Guide here. Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe close: Stocks mixed after slate of economic data - Eurozone inflation and jobs improve - UK consumer confidence falls, house prices rise - German retail sales slump - S&P upgrades Spain, downgrades Netherlands FTSE 100: 0.01% DAX: 0.21% CAC 40: -0.14% FTSE MIB: -0.41% IBEX 35: -0.33% Stoxx 600: 0.01% European stocks finished the week little changed after a batch of mixed economic data. Eurozone inflation jumped to 0.9% in November from 0.7% in October to beat the 0.8% forecast, the European Union revealed in a preliminary estimate today. The rise was driven by food and services, offset by falling energy prices. The European Central Bank, which is targeting inflation of close to 2%, earlier this month cut its interest rate to 0.25% from 0.5% on fears of disinflation. “Now, it’s probably too early to suggest that the rate cut has had any real impact on the inflation figure, but the release could have been important in showing the disinflationary pressures have eased, or worse, they’re accelerating,” according to Alpari analyst Craig Erlam. “As it turned out, it was the former, which shouldn’t be too much of a surprise given the size of the drop last month.” Another report in the euro-area showed the unemployment rate dropped to 12.1% in October from 12.2% the prior month, compared to forecasts for the rate to remain unchanged. Offsetting the upbeat data was a report on German retail sales which fell 0.8% in October from September’s revised 0.2% decline. Economists had forecast an increase of 0.5%. In the UK was the release of GfK’s consumer confidence report which registered a surprise decline in October, as British consumers were concerned about their personal finances and felt less confident about making large purchases. The sentiment index fell to a seasonally adjusted -12, compared to -11 in September. The figure had been expected to rise to -10. There has not been a month-on-month decline since mid-2011. House prices in Britain climbed 6.5% year-on-year in November, up from the previous month’s 5.8% increase, Nationwide figures showed. Economists had pencilled in a 6.2% rise. It was the biggest jump since July 2010 and vindicated Bank of England Governor Mark Carney’s view that house prices are continuing to accelerate as he announced a scaling back of the Funding for Lending Scheme yesterday. S&P raises Spain’s debt outlook and cuts Netherlands debt rating Standard & Poor’s has raised Spain’s debt outlook to stable from negative but reduced Netherland’s top rating to AA+ from AAA. The ratings agency said Spain’s economy was recovering as it affirmed the country at BBB, the lowest investment grade, and removed the negative outlook on the debt that was introduced in October 2012. Spain first lost its top credit rating at S&P in 2009 and has since yet to receive an upgrade from any of the three main rating companies. The Netherlands was downgraded amid weakening economic growth prospects and mounting government debt. Mining stocks gain A gauge of mining stocks rallied, including Randgold Resources, Antofagasta and Fresnillo, as metal prices climbed across the board with increases seen in gold, silver, copper and platinum. Experian’s shares dropped after Goldman Sachs recommended shifting the stock. The broker reduced its rating on the stock to "sell" from "neutral". Speedy Hire declined after saying it had found accounting irregularities within its international business, which mostly operates in the Middle East. Steve Corcoran resigned as Chief Executive Officer but will remain with the company until it finds a replacement. Kesko advanced after the Finish retailer said it plans to sell some of its store sites and shopping malls to a real estate investment trust that it will set up in 2014. Rentokil Initial gained after Bank of America Corp. upgraded the UK pest-control and hygiene-services company to ‘buy’ from ‘neutral’, citing an expected improvement in cash flow in 2014 and 2015. TeliaSonera slumped after Sweden’s largest phone company fired Chief Financial Officer Per-Arne Blomquist and three other senior employees amid a fallout from an ethics review. Euro/dollar and crude oil edge higher The euro rose 0.02% to $1.3609. Brent crude futures edged up $0.072 to $110.940 per barrel, ICE data showed. Traders can turn £3k into £150k – Learn how 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 US open: Retailers lift markets higher as Black Friday kicks off - Wal-Mart, Target gain after strong Thanksgiving sales - Other retailers rise as Black Friday commences - Markets open for half day - Investors look ahead to data-heavy week Dow Jones: 0.43% Nasdaq: 0.49% S&P 500: 0.30% US stocks started strongly on Friday morning in New York with the Dow Jones Industrial Average and S&P 500 likely to extend their record highs in a shortened trading session. Markets re-opened after the Thanksgiving holiday on Thursday but are due to close at 13:00 (Eastern time), three hours earlier than normal, with retailers closely watched as shoppers hit the stores for Black Friday. With customers being enticed with special deals to mark the start to the holiday shopping season, many view Black Friday sales as a key gauge of consumer sentiment, which will be closely watched given the slip in confidence in November revealed earlier this week. Meanwhile, with an absence of any US economic data at the end of this week, investors are awaiting reports due next week on manufacturing, home sales and non-farm payrolls to gauge the health of the US economy. “This week could … be seen as the calm before the storm, with a huge amount of data being released next week, including the big daddy itself, the non-farm payrolls figure,” said Market Analyst Craig Erlam from Alpari. “This could potentially be difference between a Fed taper in December or the first quarter of 2014. We also have a few central bank meetings, making next week a massive one for the markets,” he said. Retailers provide a lift Wal-Mart and Target were both trading higher after reporting decent Thanksgiving Day traffic numbers in both stores and online. While both groups didn’t given specific sales figures, they did suggest that opening earlier than usual on the holiday had helped footfall. Other retailers such as Macy’s, Best Buy, GAP, Dollar General, Tiffany and JC Penney were also making gains. Apple was also higher following reports the company accounted for 76% of smartphone sales in Japan last month. Agribusiness ADM rose despite Australia rejecting its $2.6bn takeover of GrainCorp. The company’s Chief Executive Patricia Woertz said: “As owner of 19.85% of GrainCorp, we will look to work with them to maximize returns on our investment and create value for both companies.” HAPPY BIRTHDAY MFS – 2000 points and climbing!! Mark Austin’s FTSE service is now 2 years old and to celebrate we are giving away a £595 DVD to all new subscribers. To grab your copy click here Broker Tips Credit Suisse has maintained its 'outperform' rating and 440p target for Kingfisher despite the DIY retailer's third-quarter results coming in well below forecasts on Thursday. "Although 3Q results were £12m below our forecasts, we felt that the overall tone of the conference call was slightly more upbeat than we might have expected, and that the main reasons for the miss would not necessarily recur in 4Q or beyond," Credit Suisse said. The share prices of London-listed Imperial Tobacco and British American Tobacco rebounded slightly on Friday morning after being hit by concerns over plain packaging the day before, as analysts at Berenberg said that the industry has a "very strong case to fight in the courts". "We think the tobacco industry has a very strong case to fight in the courts; even if the courts defer to 'public health' concerns and allow the policy to be implemented, we are convinced that the tobacco companies could win hundreds of millions to billions of pounds by arguing that the taking of their property requires 'just compensation'." "Don't panic" is the message being given to housebuilders by UBS after the Bank of England announced that they are removing the Funding for Lending Scheme to support mortgage lending from 2014. "While the scheme was an effective catalyst in normalising funding markets in the UK, we believe the market is now functioning more efficiently, and that increased mortgage availability and falling mortgage rates are not solely driven by the FLS," UBS said.   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, 29 November 2013 11:02:13 Monitor Quote Charts News CFD's Spreadbetting Free BB   Sponsored by: Capital Spreads Straight talking from Capital Spreads Enjoy tight spreads, 3500+ financial markets to trade and superb client service. Losses can exceed deposits. Find out more. London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London open: Miners lift FTSE 100 higher early on - Trading volumes to pick up later on, says analyst - UK consumer confidence falls again - Miners gain; housebuilders extend losses techMARK 2,674.86 +0.26% FTSE 100 6,666.33 +0.18% FTSE 250 15,468.87 +0.24% UK markets edged higher in early trading on Friday following a quiet session the day before, with volumes expected to recover as US markets re-open later on. "Volumes have been light as the trading week draws to a close owing to the shutdown of US markets as Americans around the world celebrate Thanksgiving," said Max Cohen, Financial Sales Trader at Spreadex. Wall Street will re-open today at the usual time, but will close after a half day's trade at around 18:00 London time. "We can expect this afternoon's session to be a rather more lively affair when the US markets re-open as investors seek to squeeze all their trading into a small window before heading into the weekend," Cohen said. Nevertheless, in spite of the lull experienced on Thursday, the FTSE 100 still managed to register small gains, tracking another record performance from US benchmarks as the Dow Jones Industrial Average and S&P 500 set fresh all-time highs on Wednesday. Meanwhile, the FTSE All-World equity index was trading close to a six-year high yesterday. Markets will this morning be digesting the news UK consumer confidence registered a surprise decline in October. The Gfk index showed a fall to a seasonally adjusted -12, compared to -11 the previous month, which also revealed a fall. The figure had been expected to rise to -10. This was the first consecutive monthly decline in the index since mid-2011. In other UK news, house prices rose at the fastest pace in more than three years in November, data from Nationwide revealed on Friday. Prices jumped 6.5% year-on-year, compared to the previous month's rise of 5.8% and the consensus forecast for a 6.2% increase. Other data elsewhere this morning is expected to show that Eurozone inflation increased to 0.8% in November from 0.7% in October. Consumer prices in the bloc dropped sharply last month, prompting the European Central Bank to cut interest rates to 0.25% from 0.5%. Miners track metal prices higher Precious metals group Fresnillo was a high riser this morning as metal prices gained across the board with increases seen in gold, silver, copper and platinum early on. Antofagasta, African Barrick Gold and Kazakhmys were all trading higher, as comments on top metals consumer China from Standard & Poor's also lifted sentiment. The agency reiterated its 'AA-' long-term and 'A-1+' short-term sovereign credit ratings on China with a 'stable' outlook, citing robust growth prospects. Even Rio Tinto was up despite the news that it plans to temporarily suspend alumina production at its Gove refinery in Australia as it is "no longer viable" in the current economic environment. The stock performed well on Thursday after the miner announced that it would ramp-up production at a lower cost at its iron ore business in Western Australia. Housebuilders were in the red again for the second day after the government announced yesterday that it would be changing it Funding for Lending scheme to focus on small businesses, rather than mortgage lending. Persimmon, Taylor Wimpey, Barratt Developments and Travis Perkins were all extending losses this morning. Credit checking group Experian was also trading lower this morning after analysts at Goldman Sachs downgraded their rating on the stock to 'sell' and cut their target from 1,220p to 985p. Advfn exclusive complimentary seminar – Tuesday 3rd December 6 – 8pm -  Whether you are looking to make a direct investment or to invest your pension fund, this free seminar will explain how you can enjoy double digit returns from property investment in London and the South. Click here to register FTSE 100 - Risers Antofagasta (ANTO) 800.00p +1.46% Aggreko (AGK) 1,593.00p +1.21% Fresnillo (FRES) 845.50p +1.20% Whitbread (WTB) 3,559.00p +1.14% Vedanta Resources (VED) 905.00p +1.06% Rio Tinto (RIO) 3,294.00p +1.01% Petrofac Ltd. (PFC) 1,269.00p +0.87% Compass Group (CPG) 929.50p +0.81% William Hill (WMH) 384.00p +0.76% IMI (IMI) 1,478.00p +0.75% FTSE 100 - Fallers Experian (EXPN) 1,122.00p -3.19% Mondi (MNDI) 1,007.00p -0.79% Sports Direct International (SPD) 738.00p -0.67% BHP Billiton (BLT) 1,867.00p -0.45% Centrica (CNA) 340.00p -0.44% Royal Bank of Scotland Group (RBS) 331.60p -0.39% Shire Plc (SHP) 2,755.00p -0.33% Melrose Industries (MRO) 292.90p -0.24% Smiths Group (SMIN) 1,368.00p -0.22% Bunzl (BNZL) 1,390.00p -0.22% FTSE 250 - Risers Rentokil Initial (RTO) 105.90p +3.02% Carpetright (CPR) 598.50p +2.66% Workspace Group (WKP) 506.00p +2.51% Dunelm Group (DNLM) 908.00p +2.43% Serco Group (SRP) 457.00p +2.35% Euromoney Institutional Investor (ERM) 1,223.00p +2.34% Synthomer (SYNT) 236.90p +2.24% Diploma (DPLM) 710.50p +2.23% Berkeley Group Holdings (The) (BKG) 2,407.00p +2.16% Oxford Instruments (OXIG) 1,517.00p +1.88% FTSE 250 - Fallers IP Group (IPO) 174.70p -4.01% Thomas Cook Group (TCG) 171.00p -2.67% PayPoint (PAY) 1,042.00p -1.61% Imagination Technologies Group (IMG) 247.20p -1.12% Rank Group (RNK) 142.50p -1.04% Ocado Group (OCDO) 406.00p -0.88% Centamin (DI) (CEY) 42.27p -0.80% Alent (ALNT) 339.10p -0.76% Hochschild Mining (HOC) 144.40p -0.76% UK Event Calendar 40% Returns from unusual but proven industry Download your FREE Investment Guide here. Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe open: Stocks rise as S&P raises Spain's debt outlook - S&P upgrades Spain's debt outlook - Eurozone CPI to be released - German retail sales fall - UK house prices rise - UK consumer confidence declines FTSE 100: 0.17% DAX: -0.01% CAC 40: 0.07% FTSE MIB: 0.19% IBEX 35: 0.51% Stoxx 600: 0.03% Europe stocks were mostly higher after Spain's debt outlook was raised by credit rating agency Standard & Poor's (S&P) and before the release of Eurozone inflation figures. The S&P lifted its rating of Spain to stable from negative, citing a recovery in the European nation. "We see improvement in Spain's external position as economic growth gradually resumes," S&P said in a statement as it affirmed the country at BBB, the lowest investment grade, and removed the negative outlook on the debt that was introduced in October 2012. Spain first lost its top credit rating at S&P in 2009 and has since yet to receive an upgrade from any of the three main rating companies. On today's agenda, Eurozone consumer prices are expected to rise 0.8% in November from 0.7% in October, according to consensus. Another report showed Germany retail sales in October fell 0.8% on the month, compared to September's revised 0.2% decline and a forecast for an increase of 0.5%. The news saw Germany's DAX index drop slightly by 0.01% in opening trading. In the UK, house prices climbed 6.5% year-on-year, up from the previous month's 5.8% jump, Nationwide figures showed. Economists had pencilled in a 6.2% rise. It was the biggest jump since July 2010 and vindicated Bank of England Governor Mark Carney's view that house prices are continuing to accelerate as he announced a scaling back of the Funding for Lending Scheme yesterday. The central bank is going refocus the scheme, which helps increase mortgage lending to home-buyers and businesses, to focus solely on helping small firms that find it hard to borrow in an effort to curb rising prices and the risk of a housing bubble. Chief UK and European Economist at IHS Global Insight, Howard Archer, said house prices look set to see further strong increases over the coming months despite BoE's end to its Funding for Lending Scheme. He expects to see another marked rise in December and an increase of about 8% in 2014, driven mostly by London and parts of the South East. Archer added that "the decision of the Bank of England and the Treasury to end Funding for Lending support for lending to households from January looks a highly sensible decision, although in itself it is unlikely to act as a major brake on housing market activity". "We believe that it is very important that the Bank of England has indicated that it is prepared to take further action to rein in the housing market if prices rise markedly amid ongoing strengthening activity." Also in the UK was the release of GfK's consumer confidence report which registered a surprise decline in October. The sentiment index fell to a seasonally adjusted -12, compared to -11 the month previous. The figure had been expected to rise to -10. There has not been a month-on-month decline since mid-2011. British consumers were concerned about their personal financial situations and felt less confident about making large purchases despite signs of an improving economy, the data showed. Mining stocks gain A gauge of mining stocks rallied including Antofagasta, Fresnillo and Rio Tinto rallied as the price of gold, copper and silver gained. Credit checking firm Experian slumped after receiving a downgrade from Goldman Sachs BNP Paribas gained after France's biggest bank said it became the first foreign lender to sell bonds denominated in forint on expectations that Hungary's economy and its currency will rebound from a slump. The euro fell 0.2% to $1.3603 Brent crude futures rose $0.009 to $110. 870 per barrel on the ICE. Traders can turn £3k into £150k – Learn how 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 US close: Dow, S&P hit new highs after economic data - Jobless claims, consumer confidence brighten outlook - Durable goods fall due to pull back in defence, aircraft - H-P jumps after Q4 results exceed forecasts - Markets prepare for Thanksgiving Dow Jones: 0.15% Nasdaq: 0.68% S&P 500: 0.24% Economic data came in mostly better than expected on Wednesday, lifting US markets to new highs ahead of the Thanksgiving holidays, with solid gains from tech giant Hewlett-Packard providing a lift. Figures showing an unexpected fall in jobless claims, a jump in consumer confidence along with improvements in Chicago manufacturing activity and the leading indicators index gave stocks a boost today, with the Dow Jones Industrial Average and S&P 500 finishing at fresh records of 16,097.33 and 1,807.23, respectively. Meanwhile, the Nasdaq Composite set a new 13-year high of 4,044.75. Markets are continuing to look at incoming data as they await the Federal Reserve's impending decision to scale back stimulus. According to analysts at Capital Economics, non-farm payrolls – due to be released next week – will likely show a solid 180,000 increase in November, "which may be enough to prompt the Fed to taper its asset purchases at the policy meeting in December". Deluge of economic data Initial claims for unemployment benefits fell to 316,000 in the week ended November 23rd, down from a revised 326,000 the week before. Analysts were expecting a number closer to 330,000. However, the combination of the later-than-usual timing of Thanksgiving and the Veterans Day holiday makes it more difficult to properly seasonally adjust the data, analysts said. The final reading of the University of Michigan consumer confidence index increased 75.1 in November from an initial reading of 72 and October's level of 73.2. The Chicago purchasing managers' index, which measures activity in the manufacturing sector, fell from 65.9 to 63 in November, but this still came in ahead of the prediction of 60 by analysts. Stock building made a large contribution to activity in the sector, MNI said. The leading indicators composite index increased by 0.2% in October after a revised 0.9% gain the month before. Consensus forecasts were for no change. Durable goods orders fell by 2% month-on-month in October, in line with estimates, due to the volatile sectors of defence and aircraft which pulled back following strong growth in September. The previous month's growth, however, was revised higher to 4.1%. 'Core' durable goods orders which exclude defence and aircraft declined by 1.2% in October. A report from the Mortgage Bankers' Assocation (MBA) showed mortgage applications dropped 0.3% in the week to November 22nd, from a 2.3% fall previously. H-P jumps after Q4 beat Hewlett-Packard snapped higher after the maker of personal computers posted revenue and profit that beat analysts' estimates. Fourth-quarter revenue fell by 3% to $29.1bn, but that was well ahead of the $27.9bn consensus forecast, helped by better-than-expected growth in its enterprise division. The share price of Apple was extending gains after hitting its highest close in almost a year on Tuesday. Analog Devices Inc slumped after forecasting first-quarter profit that missed consensus. Schlumberger and Noble Energy dropped as crude prices dropped near to a six-month low. S&P 500 - Risers Hewlett-Packard Co. (HPQ) $27.36 +9.05% J.C. Penney Co. Inc. (JCP) $10.08 +7.69% Cablevision Systems Corp. (CVC) $16.56 +5.08% Micron Technology Inc. (MU) $21.17 +4.23% Tesoro Corp. (TSO) $59.08 +3.72% Valero Energy Corp. (VLO) $45.97 +3.65% Marathon Petroleum Corporation (MPC) $84.34 +3.42% Weyerhaeuser Co. (WY) $30.59 +3.38% Plum Creek Timber Co. (PCL) $44.36 +3.14% Apple Inc. (AAPL) $545.96 +2.35% S&P 500 - Fallers Noble Energy Inc. (NBL) $69.87 -4.52% Newfield Exploration Co (NFX) $28.26 -4.14% Analog Devices Inc. (ADI) $48.54 -2.76% Laboratory Corporation of America Holdings (LH) $102.28 -2.64% Hess Corp. (HES) $81.48 -2.55% Pioneer Natural Resources Co. (PXD) $178.91 -2.52% Occidental Petroleum Corp. (OXY) $95.20 -2.49% Dollar General Corp (DG) $57.35 -2.45% Anadarko Petroleum Corp. (APC) $88.60 -2.18% QEP Resources Inc (QEP) $32.10 -1.89% Dow Jones I.A - Risers Intel Corp. (INTC) $23.90 +1.06% 3M Co. (MMM) $133.50 +1.02% International Business Machines Corp. (IBM) $178.97 +0.94% Microsoft Corp. (MSFT) $37.60 +0.67% American Express Co. (AXP) $85.59 +0.59% JP Morgan Chase & Co. (JPM) $57.48 +0.54% United Technologies Corp. (UTX) $111.51 +0.51% Merck & Co. Inc. (MRK) $49.83 +0.50% Home Depot Inc. (HD) $80.66 +0.39% AT&T Inc. (T) $35.41 +0.37% Dow Jones I.A - Fallers McDonald's Corp. (MCD) $97.06 -1.16% Walt Disney Co. (DIS) $70.77 -0.58% Exxon Mobil Corp. (XOM) $93.80 -0.50% Procter & Gamble Co. (PG) $84.28 -0.43% Nike Inc. (NKE) $79.33 -0.34% Chevron Corp. (CVX) $122.42 -0.29% Verizon Communications Inc. (VZ) $49.93 -0.24% Coca-Cola Co. (KO) $40.19 -0.15% Johnson & Johnson (JNJ) $94.98 -0.08% Boeing Co. (BA) $134.72 -0.04% Nasdaq 100 - Risers Tesla Motors Inc (TSLA) $126.94 +5.34% Green Mountain Coffee Roasters Inc. (GMCR) $67.51 +5.22% Micron Technology Inc. (MU) $21.17 +4.23% Apple Inc. (AAPL) $545.96 +2.35% Nuance Communications Inc. (NUAN) $13.40 +2.29% Netflix Inc. (NFLX) $362.49 +2.05% Check Point Software Technologies Ltd. (CHKP) $61.74 +1.97% Monster Beverage Corp (MNST) $59.85 +1.79% Western Digital Corp. (WDC) $76.19 +1.78% Biogen Idec Inc. (BIIB) $293.83 +1.60% Nasdaq 100 - Fallers Analog Devices Inc. (ADI) $48.54 -2.76% Sears Holdings Corp. (SHLD) $63.68 -1.35% Equinix Inc. (EQIX) $160.62 -1.18% Celgene Corp. (CELG) $161.52 -1.17% Applied Materials Inc. (AMAT) $17.35 -0.97% Charter Communications Inc. (CHTR) $134.98 -0.84% Mylan Inc. (MYL) $44.14 -0.81% Regeneron Pharmaceuticals Inc. (REGN) $292.88 -0.76% KLA-Tencor Corp. (KLAC) $64.03 -0.65% Dollar Tree Inc (DLTR) $55.83 -0.64% HAPPY BIRTHDAY MFS – 2000 points and climbing!! Mark Austin’s FTSE service is now 2 years old and to celebrate we are giving away a £595 DVD to all new subscribers. To grab your copy click here Newspaper Round Up Friday newspaper round-up: Netherlands, Japan, Royal Mail The Netherlands has become the latest Eurozone member to be stripped of its AAA credit rating by Standard & Poor's, citing weakening growth prospects as it cut the country's rating to AA+. Earlier this month France also suffered a downgrade by S&P, when it was cut from AA+ to AA – two years after losing its AAA rating. Of the 17 members of the single currency bloc, only Germany, Finland and Luxembourg still hold an AAA rating from S&P – Financial Times Japan is on track to win its war on deflation with the latest consumer price inflation figures showing the highest reading since the country slipped into deflation 15 years ago. Core consumer price index inflation, which excludes fresh food but includes energy, hit 0.9% in October, in line with economists' expectations. Excluding both fresh food and energy, it reached 0.3%, the highest reading since 1998, indicating that rising energy costs alone were not the sole factor in inflationary pressure. – The Financial Times Goldman Sachs has risked a further escalation of the Royal Mail privatisation row by putting a price target on the shares of 610p despite telling the government that the business should be floated at 330p last month. Analysts at Goldman said the postal group's valuation should benefit from an increase in parcel deliveries, despite falling letter volumes. The investment bank's 12-month price target of 610p represents an 85% premium on the flotation price, and gave further ammunition to those critics of the privatisation who argue the government sold off Royal Mail too cheaply. – The Guardian Banks and investors have slipped back into their bad old ways, with appetite for junk bonds and high-risk debt at pre-crisis levels once again, according to the Bank of England. Junk bond issuance in the US has soared to a record high this year, double last year's levels and surpassing the previous 2007 peak by nearly 50%, the Bank's Financial Stability Report revealed. Cov-lite junk bond issuance is now three times as high as in 2007. – The Times Lloyds Banking Group is planning to name Lord Blackwell, a former adviser to Margaret Thatcher and John Major, as its next chairman. The appointment is yet to be formally approved by regulators but may be announced today or early next week. Lord Blackwell, 61, is currently chairman of Lloyds' Scottish Widows subsidiary, having joined the bank in June last year. He will replace Sir Win Bischoff who, as Lloyds' chairman for the past four years, has steered the bank through the aftermath of the financial crisis. – The Times Shares in Edinburgh-based property developer Sigma Capital surged by more than 40% yesterday as it unveiled a £700m joint venture deal with an investment bank to build thousands of homes for rent. The scale of the deal with Gatehouse, a Kuwaiti-backed investment bank, prompted comments of support from both Prime Minister David Cameron and Business Secretary Vince Cable. The agreement will initially see around 2,000 rental properties built in Liverpool and Greater Manchester. Once full bank finance is in place, construction is expected to take place over 24 months.- The Guardian   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, 28 November 2013 17:35:49 Monitor Quote Charts News CFD's Spreadbetting Free BB   Sponsored by: Capital Spreads Straight talking from Capital Spreads Enjoy tight spreads, 3500+ financial markets to trade and superb client service. Losses can exceed deposits. Find out more. London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London close: Markets inch higher on quiet day, but housing stocks sink - FTSE 100 edges higher, global equities close to six-year high - US markets closed for Thanksgiving - Housing, tobacco stocks pressured by government policy techMARK 2,668.00 +0.35% FTSE 100 6,654.47 +0.08% FTSE 250 15,431.80 +0.16% The FTSE 100 registered small gains on Thursday on a relatively quiet day for financial markets with indices in the States closed for the Thanksgiving holiday. Nevertheless, record closes for the Dow Jones Industrial Average and S&P 500 on Wall Street on Wednesday night helped boost markets across Europe with the FTSE All-World equity index trading close to a six-year high of 264.7. London’s benchmark index finished just five points higher at 6,654.47 after trading within a narrow range for most of the day, as strong gains in the mining sector were partly offset by weakness in housing and tobacco. With an absence of US data today and very little out from the UK, the focus was on economic indicators from the Eurozone during the session. While business confidence in the single-currency region improved in November, consumer confidence declined. Meanwhile, figures from Germany showed that unemployment in Europe's largest economy rose to its highest level since April 2011. The number of people out of work climbed for the fourth straight month in November, up 10,000 to 2.985m, much worse than the 1,000 increase expected by analysts. Housing stocks fall on mortgage concerns Housing stocks were under pressure today after the Bank of England announced it will scale back a scheme to boost mortgage lending as evidence begins to point to a housing market boom. The Funding for Lending Scheme will now focus solely on enabling greater lending to small firms that are having difficulties with borrowing as house price inflation looks set to accelerate further. Persimmon, Travis Perkins, Taylor Wimpey, Bovis Homes and Barratt Developments were all registering steep losses by midday. Imperial Tobacco and British American Tobacco were under the weather after the UK government launched a fresh review into plain packaging. This is a major U-turn for Prime Minister David Cameron after he said earlier this year that there wasn’t enough evidence to show whether the measure would discourage young smokers. Rio Tinto gained after saying it will increase its mine production capacity at lower capital cost per tonne at its iron ore business in Western Australia. Other mining stocks were performing well as metals prices gained. Fresnillo, Vedanta, Glencore Xstrata, Antofagasta and BHP Billiton were higher while Anglo American was benefitting from a ratings upgrade from Liberum Capital. DIY retailer Kingfisher fell sharply after a weak performance in France held back third-quarter retail profits. Plumbing and heating products group Wolseley also disappointed with its first-quarter results as trading continues to be mixed across its key regions. Meanwhile, pubs group and brewer Marston’s slumped after saying that it would sell 202 pubs in an effort to reduce debt and pay for new “higher turnover pub-restaurants”. Travel operator Thomas Cook surged after reporting a better-than-expected 49% jump in full-year operating profits as it lifted its near-term guidance for revenue and cost-cutting. Kentz rose on speculation that the oil engineering firm is again on the bidding block. According to Acquisitions Daily, Austria’s M+W Group is considering a new bid for the British company after pulling out of an earlier possible bid in September. The Share Centre: Trade online - Just £7.50 per deal. Sign up in minutes. Click here to find out more Capital at Risk Click Here FTSE 100 - Risers Rio Tinto (RIO) 3,261.00p +3.89% Fresnillo (FRES) 835.50p +2.83% Old Mutual (OML) 199.40p +2.78% Anglo American (AAL) 1,375.00p +2.73% Hargreaves Lansdown (HL.) 1,222.00p +2.60% Vedanta Resources (VED) 895.50p +2.34% TUI Travel (TT.) 369.70p +1.90% Capita (CPI) 995.00p +1.79% BHP Billiton (BLT) 1,875.50p +1.71% Glencore Xstrata (GLEN) 312.25p +1.66% FTSE 100 - Fallers Persimmon (PSN) 1,170.00p -6.10% Kingfisher (KGF) 378.60p -4.39% Travis Perkins (TPK) 1,783.00p -2.67% easyJet (EZJ) 1,411.00p -2.29% International Consolidated Airlines Group SA (CDI) (IAG) 368.30p -2.18% Imperial Tobacco Group (IMT) 2,316.00p -1.91% Compass Group (CPG) 922.00p -1.76% Wolseley (WOS) 3,337.00p -1.71% Resolution Ltd. (RSL) 346.20p -1.31% Coca-Cola HBC AG (CDI) (CCH) 1,722.00p -1.20% FTSE 250 - Risers Thomas Cook Group (TCG) 175.70p +14.69% Hochschild Mining (HOC) 145.50p +8.66% Kazakhmys (KAZ) 240.00p +7.29% RPS Group (RPS) 312.00p +6.41% AL Noor Hospitals Group (ANH) 890.00p +5.45% Britvic (BVIC) 670.00p +4.36% Mitchells & Butlers (MAB) 417.50p +4.35% Kenmare Resources (KMR) 19.86p +3.82% African Barrick Gold (ABG) 173.30p +3.71% Hellermanntyton Group (HTY) 300.00p +3.45% FTSE 250 - Fallers IP Group (IPO) 182.00p -7.57% Marston's (MARS) 143.70p -7.35% Taylor Wimpey (TW.) 107.40p -6.20% Bellway (BWY) 1,446.00p -5.55% Bovis Homes Group (BVS) 777.00p -5.53% Redrow (RDW) 273.50p -5.17% Barratt Developments (BDEV) 329.90p -4.85% Crest Nicholson Holdings (CRST) 345.00p -4.06% IG Group Holdings (IGG) 584.00p -3.95% Galliford Try (GFRD) 1,079.00p -3.40% 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.  Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe close: Stocks rise as Eurozone confidence and German CPI gains - Eurozone economic sentiment improves - German inflation rises, unemployment gains - Spain faces S&P rating upgrade - ECB warns of stimulus tapering - BoE to reduce scheme to boost mortgage lending FTSE 100: 0.08% DAX: 0.39% CAC 40: 0.22% FTSE MIB: 0.92% IBEX 35: 0.52% Stoxx 600: 0.35% European stocks gained as Eurozone economic confidence and German inflation rose more than expected in November. Economic data in Europe was in focus as the US market was closed for Thanksgiving today. The Eurozone’s index of executive and consumer sentiment advanced to 98.5 from 97.7 in October, the European Commission in Brussels revealed. Economists had predicted a reading of 98. “November’s rise in the European Commission’s Eurozone economic sentiment indicator is a comforting sign given the recent falls in other indicators, like the composite PMI, but we still expect the recovery to remain weak,” according to Capital Economics. Meanwhile, Germany’s consumer prices increased to 1.6% in November from 1.2% in October, exceeding the 1.3% forecast. In contrast, Germany’s unemployment rate was unchanged in November at 6.5%, as expected, and there were 10,000 more people out of work. The consensus forecast was for the number of unemployed to remain unchanged. There are now 2.81m without jobs in Europe’s biggest economy. Spain headed for rating upgrade, says economist Spain’s sovereign credit rating may be raised from negative to stable by Standard & Poor’s, according to an economists from the Institute for Market Studies. Miguel Angel Bernal, coordinator of the Research Department of the IEC, painted a positive outlook for the nation in his in Madrid Outlook 2014 report. He said all the factors weighing on Spain including public debt, the state of the banking sector and the government deficit are beginning to ease. “All these factors have improved and also the political situation in Spain is more stable than in Italy and companies have improved their competitiveness,” he said. In Italy, the Senate last night voted to expel former Prime Minister and centre-right leader Silvio Berlusconi from parliament over his conviction for tax fraud. Barclays Research said while it's difficult to anticipate the long-term impact of the vote, the bank expects Berlusconi to retaliate and for his Forza Italia to poll strongly in the coming weeks. ECB warns of Fed tapering The ECB has underlined the threats posed by the scaling back of US Federal Reserve quantitative easing in its latest financial stability report. The central bank called on Eurozone policymakers to prepare for market shocks from a tapering of the Fed’s monthly $85bn bond buying programme. The Fed has indicated that a tapering could come as soon as its next meeting in December. However, many economists expect a March 2014 start. In the UK, the Bank of England has announced it will scale back a scheme to boost mortgage lending as the property market continues to improve. The Funding for Lending Scheme, which launched in July 2012, has supported a turnaround of a stagnant property market as it helps increase lending to home-buyers and businesses. The scheme will now focus solely on enabling greater lending to small firms that are having difficulties with borrowing as house price inflation looks set to accelerate further. Tobacco stocks fall on UK government measure Imperial Tobacco Group and British American Tobacco declined on news the UK government will introduce plain cigarette packs to make smoking less attractive to young people. Rio Tinto gained after announcing plans to increase production at a lower cost at its Western Australia iron ore business. Kingfisher slumped after the home-improvement retailer reported third quarter same-store sales that missed analysts estimates. Thomas Cook advanced after the travel company posted a 49% increase in full-year profit. Swedish copper and zinc producer Boliden AB gained after Morgan Stanley raised its rating on the stock to ‘overweight’ from ‘equalweight’. Compass Group slid as Citigroup reduced its rating to ‘neutral’ from ‘buy’. Other asset classes mixed The euro rose 0.15% to $1.3600. Brent crude futures fell $0.288 to $110.990 per barrel, according to ICE data. 40% Returns from unusual but proven industry Download your FREE Investment Guide here. US Market Report There is no news for the US Open due to the Thanksgiving Holiday. HAPPY BIRTHDAY MFS – 2000 points and climbing!! Mark Austin’s FTSE service is now 2 years old and to celebrate we are giving away a £595 DVD to all new subscribers. To grab your copy click here Broker Tips WPP, Rio Tinto, Thomas Cook WPP's share price was performing well on Thursday after UBS increased its target for the stock from 1,300p to 1,500p and raised its growth forecasts on the back of an optimistic outlook for the advertising and media giant. "We argue that corporates will increase their investment in the services WPP provides to drive their top-line growth and gain market share in the US and Europe, improve branding in Asia and that Media, Digital and Data will see cyclical and structural growth, combining to deliver strong execution of WPP's strategy." Investec has maintained its 'buy' rating for mining group Rio Tinto after the company announced on Thursday that it plans to ramp up production at its iron ore business in Western Australia. "While promoting a flood of new supply is not encouraging for the iron ore price longer-term, the reality is, in our view, that if RIO doesn’t do it, others will. RIO is in the best position to capture market share through its low-cost, world class assets. A focus on brownfield expansion also provides some flexibility, enabling the expansion to remain sensitive to market conditions." Jefferies has kept a 'buy' recommendation and 200p target for travel operator Thomas Cook after the company's full-year results and near-term guidance came in much better than expected. "Thomas Cook is delivering. Margins are improving, net debt has fallen and the balance sheet considerably strengthened, more cost savings are promised and, importantly, trading is robust. Yet the shares still trade at a discount to its major competitor, TUI Travel. We think this is becoming increasingly difficult to justify, especially given the likely higher growth rates at Thomas Cook Group."   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