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| | London Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | London open: Stocks slip ahead of quiet day -Quiet day on the macro front
- Capita, Severn Trent fall after CEO exits
- Aberdeen jumps after annual results, acquisition
- Petrofac slumps on cautious guidance
techMARK 2,636.54 -0.48%
FTSE 100 6,682.77 -0.16%
FTSE 250 15,223.14 -0.15%
Markets opened slightly lower on Monday morning as investors showed caution in light of a quiet day on the macroeconomic front, though boardroom changes and corporate earnings releases were causing a few heavyweight stocks to move early on.
Outsourcing group Capita was a heavy faller after announcing that Chief Executive Officer (CEO) Paul Pindar has called it quits after 26 years with the firm. Severn Trent was also lower after saying that CEO Tony Wray would retire next year and be replaced by the current head of BT's Openreach operations.
Aberdeen Asset Management was heading the other way with the stock surging after the fund manager lifted its dividend by 39% as annual profits and revenues grew. Oilfield services firm Petrofac sunk into the red after the firm gave a cautious near-term outlook.
Nevertheless, it was a quiet start for markets in London with investors looking ahead to the minutes of October's Federal Open Market Committee (FOMC) meeting due to be released on Wednesday.
Although few are still expecting the Fed to begin scaling back its asset purchase programme this year - especially after Fed Chair nominee Janet Yellen's dovish comments last week - investors will be looking out for hints of a potential timeframe for the 'taper'.
"As for today, it’s going to be relatively quiet, with no major economic releases due out of the eurozone or the US," said Market Analyst Craig Erlam from Alpari.
"We will hear from a couple of Fed members later on today, including William Dudley and Charles Plosser. Dudley is a voting member on the FOMC and a well known dove, so any comments on the potential winding up of asset purchases could have a significant impact on the markets, especially if he hints at earlier-than-expected tapering."
Capita, Severn Trent fall on CEO exits; Aberdeen rockets
FTSE 100 outsourcing group Capita said it is on track to deliver strong growth in 2013 after robust sales and acquisitions made during the period, but shares fell as it confirmed that long-standing CEO Paul Pindar is to step down in early 2014.
Pindar, who has ran the firm since 1999, will be replaced by Deputy Chief Executive Andy Parker from February 28th 2014. He is leaving Capita to "establish a portfolio of private equity opportunities", the group announced.
Utilities group Severn Trent also fell after saying that Tony Wray would retire as CEO next spring, after serving in that position since 2007. Liv Garfield will be his successor, leaving BT where she served as the CEO of Openreach. The latter was also trading lower this morning after the news.
Aberdeen soared early on after saying that annual pre-tax profit jumped 39% to £482.7m in the year to September 30th with net revenue up 24% to £1.07bn. The full-year dividend was raised by 39% to 16p per share. The company also announced this morning that it would acquire Scottish Widows Investment Partnership Group from Lloyds.
Others in the financial sector were limiting the downside on markets this morning with Standard Chartered, Lloyds and HSBC making gains early on.
Petrofac saw its share price drop sharply after saying that net income info 2014 would show "flat to modest growth year-on-year". The company also said that targets for 2015 were dependent on the timing of certain contracts.
IAG was a high riser as investors digest Friday's upwardly revised profit guidance for 2015. Vedanta was also higher, rebounding after some heavy falls following its first-half report released the previous session.
Power systems group Rolls-Royce gained after receiving a $5bn order for Trent XWB engines to power 50 Airbus A350 XWB aircraft. The company called it a "significant order […] from a valued customer". |
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| | FTSE 100 - Risers
Aberdeen Asset Management (ADN) 486.00p +13.87%
Standard Chartered (STAN) 1,481.50p +1.75%
International Consolidated Airlines Group SA (CDI) (IAG) 367.70p +1.52%
Lloyds Banking Group (LLOY) 76.16p +1.03%
Vedanta Resources (VED) 964.50p +0.94%
Glencore Xstrata (GLEN) 326.65p +0.80%
HSBC Holdings (HSBA) 691.60p +0.67%
Antofagasta (ANTO) 815.50p +0.43%
Rolls-Royce Holdings (RR.) 1,229.00p +0.41%
easyJet (EZJ) 1,269.00p +0.32%
FTSE 100 - Fallers
Petrofac Ltd. (PFC) 1,258.00p -12.58%
Croda International (CRDA) 2,329.00p -1.48%
CRH (CRH) 1,569.00p -1.38%
Capita (CPI) 969.50p -1.37%
Pearson (PSON) 1,320.00p -1.35%
Reed Elsevier (REL) 877.00p -1.24%
Admiral Group (ADM) 1,269.00p -1.17%
Fresnillo (FRES) 930.50p -1.17%
Melrose Industries (MRO) 302.60p -1.14%
InterContinental Hotels Group (IHG) 1,847.00p -1.12%
FTSE 250 - Risers
Kentz Corporation Ltd. (KENZ) 552.50p +2.50%
Fidelity China Special Situations (FCSS) 105.50p +2.03%
Serco Group (SRP) 426.90p +1.98%
Wetherspoon (J.D.) (JDW) 710.50p +1.72%
RPC Group (RPC) 492.70p +1.59%
Imagination Technologies Group (IMG) 243.90p +1.58%
Betfair Group (BET) 1,016.00p +1.50%
Dignity (DTY) 1,350.00p +1.35%
Schroder Asia Pacific Fund (SDP) 250.30p +1.29%
National Express Group (NEX) 257.20p +1.26%
FTSE 250 - Fallers
Aveva Group (AVV) 2,330.00p -9.20%
Perform Group (PER) 425.50p -2.34%
Oxford Instruments (OXIG) 1,463.00p -2.14%
NMC Health (NMC) 365.00p -1.88%
Computacenter (CCC) 587.50p -1.59%
Ted Baker (TED) 1,857.00p -1.59%
Supergroup (SGP) 1,118.00p -1.41%
Essentra (ESNT) 764.50p -1.35%
Bellway (BWY) 1,387.00p -1.35%
African Barrick Gold (ABG) 192.20p -1.23% |
| | UK Event Calendar | | Monday November 18
INTERIMS
Aveva Group, Latchways, Majestic Wine
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Payments (EU) (09:00)
Balance of Trade (EU) (10:00)
Current Account (EU) (09:00)
Q3
Espirito Santo Financial Group SA, JSC Halyk Bank GDR (Reg S)
GMS
Alpha UK Multi Property Trust, Regency Mines
FINALS
Barloworld Ltd., Diploma, Hangar 8
IMSS
Bisichi Mining
SPECIAL DIVIDEND PAYMENT DATE
TR European Growth Trust
AGMS
Amur Minerals Corporation NPV, Origin Enterprises
FINAL DIVIDEND PAYMENT DATE
TR European Growth Trust
FINAL EX-DIVIDEND DATE
Petmin Ltd. (DI)
|
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| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks slide ahead of US economic data - China announces bold reforms
- Investors wait on US economic data
- Fed officials to speak
FTSE 100: -0.14%
DAX: -0.19%
CAC 40: -0.22%
FTSE MIB: -0.11%
IBEX 35: -0.16%
Stoxx 600: -0.12%
European stocks slumped after China unveiled its boldest set of reforms since the 1990s and as investors waited for a batch of US economic data out this week.
The world's second largest economy announced on Friday that it would relax its one-child policy, open up market access and abolish controversial labour camps.
The changes were unveiled in a document by the Communist Party following a four-day meeting of its senior leaders.
Turning to this week's agenda, investors are waiting for economic indicators to gauge the impact of last month's US government shutdown.
"There's a number of October figures being released this week, but I think particular attention will be paid to retail sales, existing home sales and manufacturing figures," said Craig Erlam, Market Analyst at Alpari UK.
"Also on Wednesday, we have the release of the minutes from the October FOMC meeting, which should highlight just how uncertain the central bankers were about the potential impact of the shutdown on the economy."
Today will be relatively quiet with no major economic releases due in the Eurozone or the US.
Federal Reserve members William Dudley and Charles Plosser will speak later in the US, potentially offering hints on when the central bank will begin winding back its monetary stimulus.
Aberdeen gains on Lloyds deal
Aberdeen Asset Management gained after Lloyds Banking Group agreed to sell its Scottish Widows Investment Partnership division to the money manager. Aberdeen also lifted its annual dividend by 39% after a strong increase in profits and revenues in the year just gone.
Sonova Holding rallied as the hearing aid maker increased its full-year forecast after first-half revenue exceeded analysts' expectations.
Medica advanced after the French private health group said it would merge with Korian.
Petrofac slumped after the energy services firm said it expected net income to be flat or grow modestly next year.
Capita declined after announcing its Chief Executive Officer Paul Pindar will retire in early 2014.
Brent crude dips
Brent crude futures fell $0.603 to $107.850 per barrel on the ICE.
The euro was up 0.03% to $1.3500. |
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| | US Market Report | | US close: Markets hit fresh highs on stimulus hopes - Stocks extend gains on Yellen comments
- Economic data comes in mixed
- Exxon, FedEx rise on new investments
Dow Jones: 0.54%
Nasdaq: 0.33%
S&P 500: 0.41%
The Dow Jones Industrial Average and S&P 500 reached record highs on Friday with both benchmarks rising for a sixth week in row as investors showed optimism that the Federal Reserve will maintain its asset purchase programme in the near term.
The Dow finished 85.48 points higher at 15,961.7 with strong gains from oil major Exxon Mobil Corp providing a lift, while the S&P 500 hit 1,798.18, up 7.56 points on the day.
Stocks were still reacting to a dovish statement from soon-to-be Federal Reserve Chairwoman Janet Yellen who said on Thursday that the US economy is still performing "far short of [its] potential" and that the central bank must "do what we can to promote a strong economic recovery".
Meanwhile, a barrage of mixed economic data out on Friday raised hopes that the Fed will continue with its accommodative stance as they await a stronger economic recovery.
Economic data in focus
Industrial production in the US slipped by 0.1% in October, according to the latest figures out from the Federal Reserve, that was lower than the 0.2% gain which had been forecast.
Manufacturing output was 0.3% higher last month, better than the 0.2% increase estimated by analysts.
Wholesale inventories gained at a 0.4% clip over the month in September, as expected, while the previous month´s figures were revised higher.
The Empire State manufacturing index fell to -2.21 in November, surprising analysts who had expected a pick-up to 5.0 from last month's reading of 1.52.
Exxon gains after Buffett investment
Exxon Mobil Corp advanced after Warren Buffett's Berkshire Hathaway Inc. disclosed a stake in the oil firm.
Meanwhile, delivery service firm FedEx gained on reports that billionaire investors George Soros and John Paulson took stakes in the company in the third quarter.
US conglomerate General Electric rose after saying that it spin-off its North American consumer lending business via an initial public offering. The unit could be valued at over $20bn.
Interpublic Group of Cos. declined after WPP disputed claims it was planning a takeover.
Barclays was weighing on the share price of cereal maker Kellogg after cutting its rating for the stock from 'equalweight' to 'underweight'.
S&P 500 - Risers
Vertex Pharmaceuticals Inc. (VRTX) $63.39 +3.87%
Citrix Systems Inc. (CTXS) $56.90 +3.53%
Alexion Pharmaceuticals Inc. (ALXN) $124.07 +3.42%
Biogen Idec Inc. (BIIB) $245.09 +3.16%
Garmin Ltd. (GRMN) $47.77 +3.11%
News Corp Class A (NWSA) $17.76 +2.96%
Linear Technology Corp. (LLTC) $42.21 +2.43%
LyondellBasell Industries (LYB) $78.26 +2.27%
Netflix Inc. (NFLX) $349.76 +2.10%
JDS Uniphase Corp. (JDSU) $12.40 +1.72%
S&P 500 - Fallers
Electronic Arts Inc. (EA) $24.06 -7.32%
Regeneron Pharmaceuticals Inc. (REGN) $280.00 -3.06%
Seagate Technology Plc (STX) $48.94 -2.33%
Express Scripts Holding Co (ESRX) $65.34 -1.66%
TripAdvisor Inc. (TRIP) $87.77 -1.58%
Patterson Companies Inc. (PDCO) $43.68 -1.33%
Wynn Resorts Ltd. (WYNN) $166.39 -1.26%
Staples Inc. (SPLS) $15.57 -1.14%
Akamai Technologies Inc. (AKAM) $45.76 -0.89%
Whole Foods Market Inc. (WFM) $58.84 -0.73%
Dow Jones I.A - Risers
Cisco Systems Inc. (CSCO) $21.53 +0.80%
Intel Corp. (INTC) $24.52 +0.55%
3M Co. (MMM) $129.79 +0.00%
Walt Disney Co. (DIS) $70.02 +0.00%
Visa Inc. (V) $200.15 +0.00%
Boeing Co. (BA) $135.09 +0.00%
McDonald's Corp. (MCD) $97.56 +0.00%
Coca-Cola Co. (KO) $40.21 +0.00%
Chevron Corp. (CVX) $119.56 +0.00%
Johnson & Johnson (JNJ) $93.92 +0.00%
Dow Jones I.A - Fallers
Microsoft Corp. (MSFT) $37.84 -0.47%
International Business Machines Corp. (IBM) $182.21 -0.00%
Home Depot Inc. (HD) $78.94 -0.00%
JP Morgan Chase & Co. (JPM) $54.40 -0.00%
Caterpillar Inc. (CAT) $83.76 -0.00%
Wal-Mart Stores Inc. (WMT) $79.08 -0.00%
United Technologies Corp. (UTX) $108.69 -0.00%
E.I. du Pont de Nemours and Co. (DD) $61.79 -0.00%
Exxon Mobil Corp. (XOM) $93.22 -0.00%
Verizon Communications Inc. (VZ) $50.27 -0.00%
Nasdaq 100 - Risers
Green Mountain Coffee Roasters Inc. (GMCR) $63.01 +3.93%
Vertex Pharmaceuticals Inc. (VRTX) $63.39 +3.87%
Avago Technologies Ltd. (AVGO) $44.61 +3.86%
Citrix Systems Inc. (CTXS) $56.90 +3.53%
Alexion Pharmaceuticals Inc. (ALXN) $124.07 +3.42%
Sirius XM Holdings Inc (SIRI) $3.86 +3.35%
Equinix Inc. (EQIX) $167.61 +3.31%
Biogen Idec Inc. (BIIB) $245.09 +3.16%
Garmin Ltd. (GRMN) $47.77 +3.11%
Linear Technology Corp. (LLTC) $42.21 +2.43%
Nasdaq 100 - Fallers
Regeneron Pharmaceuticals Inc. (REGN) $280.00 -3.06%
Seagate Technology Plc (STX) $48.94 -2.33%
Express Scripts Holding Co (ESRX) $65.34 -1.66%
Tesla Motors Inc (TSLA) $135.45 -1.56%
Wynn Resorts Ltd. (WYNN) $166.39 -1.26%
Staples Inc. (SPLS) $15.57 -1.14%
Akamai Technologies Inc. (AKAM) $45.76 -0.89%
Henry Schein Inc. (HSIC) $113.94 -0.74%
Whole Foods Market Inc. (WFM) $58.84 -0.73% |
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| | Monday newspaper round-up | | The British Bankers’ Association has warned Chancellor George Osborne that the lack of an end date to his flagship Help to Buy programme could cause serious distortion in the housing market, The Daily Telegraph has learned.
Tesco has been accused of carrying its rubbish in food trucks to cut costs, according to The Guardian.
Severn Trent has announced that Liv Garfield would leave BT to become Chief Executive of the water utility, the Financial Times reported.
The European Union’s proposed bank bailout could cost more than €150bn, The Times said.
British businesses are more optimistic about the future than their rivals across the developed world, the Daily Mail reported, citing a Markit report.
Capita’s Chief Executive said today he would step down 26 years after joining Britain’s largest outsourcing group, The Times revealed.
Google and Microsoft have agreed upon a set of changes that will see images of child abuse blocked from their search engines for the first time, The Independent | | |
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