| | | | | | | | | |
| | London Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | London open: Stocks inch higher after recent sell-off - Markets look ahead to FOMC meeting tomorrow
- Turkey in focus as central bank meets
- F&C recommends offer to shareholders
techMARK 2,771.74 +0.36%
FTSE 100 6,574.14 +0.36%
FTSE 250 15,697.84 +1.09%
UK markets opened slightly higher on Tuesday, although sentiment was still fragile as stocks rebounded from their worst levels in nearly six weeks.
The FTSE 100 was trading at 6,574 this morning, up 0.4% from Monday's close of 6,550.66 - its worst closing price since December 18th.
"Markets may be subdued today following the recent sell-off and as investors take bets ahead of the all-important Federal Open Market Committee meeting tomorrow," said Lee Mumford, Financial Sales Trader at Spreadex.
The Fed, which began scaling back its monthly asset purchases in December from $85bn to $75bn, will make another $10bn cut this month, according to the consensus forecast.
Ongoing volatility in emerging-market currencies has sparked a sell-off across global stock markets in recent days as investors scaled back risk appetite on concerns of the impact from a slowdown in China.
However, things have stabilised somewhat after Turkey's central bank said it would hold an emergency monetary policy meeting later today in order to discuss recent developments and take necessary measures to halt the sharp slide in the lira.
Kathy Lien, Managing Director at BK Asset Management, said: "Their goal is to restore confidence in their currency and if they are effective, it will bolster risk appetite across the financial markets and drive USD/TRY and EUR/TRY lower."
Market consensus expects a rate hike of 100-300 basis points, but Lien said: "There's always the possibility of a more creative option - the larger the rate hike, the more support it will provide to the lira."
F&C extends gains, RBS falls
Fund manager F&C Asset Management, which rocketed yesterday after a £708m offer from a division of Canada's Bank of Montreal, was still making gains this morning after recommending the deal to shareholders. Chief Executive Officer Richard Wilson said that the offer "represents a unique opportunity to broaden and accelerate our ambitions".
RBS was extending losses made yesterday after a surprise trading statement which detailed nearly £3bn of provisions for new claims. The stock was upgraded this morning by Investec from 'sell' to 'hold'.
Oil and gas firm BG Group was also in the red again after sinking sharply yesterday on disappointing production guidance for 2014 and 2015. Analysts across the board trimmed their targets for the stock this morning, with JPMorgan also downgrading the shares to 'neutral'.
Precious metals producer Fresnillo was lower despite beating silver output targets in 2013 and hitting its forecasts for gold. Silver production in 2014, however, is expected to be flat.
Sector peer Randgold also fell, tracking the price of precious metals lower this morning.
Shares of flooring retailer Carpetright were down after it warned on profit for the second time in nearly four months as deteriorating trading in the Netherlands dragged on an improved UK performance. |
| | Q4 Banks reporting, LLoyds , RBS , Barc - Buy or Sell? | | Download your complementary report now, Click Here. Losses can exceed deposits |
| FTSE 100 - Risers
Carnival (CCL) 2,562.00p +3.39%
Rio Tinto (RIO) 3,227.00p +2.77%
Hargreaves Lansdown (HL.) 1,465.00p +2.52%
Aberdeen Asset Management (ADN) 401.00p +2.48%
Anglo American (AAL) 1,351.00p +2.39%
Lloyds Banking Group (LLOY) 82.30p +2.36%
Amec (AMEC) 1,043.00p +2.25%
Royal Mail (RMG) 571.00p +2.15%
Persimmon (PSN) 1,274.00p +1.92%
GKN (GKN) 390.90p +1.90%
FTSE 100 - Fallers
ARM Holdings (ARM) 931.00p -2.77%
Randgold Resources Ltd. (RRS) 4,059.00p -2.36%
Intertek Group (ITRK) 2,841.00p -0.94%
Fresnillo (FRES) 769.00p -0.77%
Imperial Tobacco Group (IMT) 2,235.00p -0.75%
AstraZeneca (AZN) 3,830.00p -0.66%
National Grid (NG.) 779.50p -0.57%
Royal Dutch Shell 'A' (RDSA) 2,123.00p -0.54%
SABMiller (SAB) 2,863.50p -0.54%
G4S (GFS) 248.60p -0.52%
FTSE 250 - Risers
Afren (AFR) 152.60p +5.31%
F&C Asset Management (FCAM) 121.10p +4.04%
JD Sports Fashion (JD.) 1,639.00p +3.60%
Ocado Group (OCDO) 498.10p +3.40%
Senior (SNR) 299.60p +3.27%
Redrow (RDW) 329.30p +2.91%
Alent (ALNT) 308.50p +2.83%
Thomas Cook Group (TCG) 173.50p +2.78%
Close Brothers Group (CBG) 1,283.00p +2.72%
Greencore Group (GNC) 245.50p +2.68%
FTSE 250 - Fallers
Imagination Technologies Group (IMG) 175.00p -2.02%
Domino's Pizza Group (DOM) 504.50p -1.08%
Telecity Group (TCY) 729.50p -0.95%
Investec (INVP) 392.50p -0.63%
Petra Diamonds Ltd.(DI) (PDL) 132.70p -0.60%
AL Noor Hospitals Group (ANH) 811.00p -0.49%
Dignity (DTY) 1,472.00p -0.47%
PayPoint (PAY) 1,091.00p -0.37%
Bwin.party Digital Entertainment (BPTY) 110.20p -0.27% |
| | UK Event Calendar | | Tuesday January 28
INTERIMS
Filtronic, Mattioli Woods
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Consumer Confidence (US) (15:00)
Durable Goods Orders (US) (13:30)
GMS
TXO, Vodafone Group
FINALS
Aberforth Smaller Companies Trust, Crest Nicholson Holdings
ANNUAL REPORT
Arden Partners
IMSS
British Land Co, Carpetright, Greencore Group
EGMS
Komercni Banka A.S.GDR (Level 1), Lyxor Euro Stoxx 50 DR GBP, Lyxor Index Fund Lyxor Emerging Markets Local Cy Bond Dr$, Lyxor MSCI Europe DR GBP, Samsung C&T Corp. GDR
AGMS
Alternative Networks, Greencore Group, Polar Capital Global Healthcare Growth & Income Trust, Standard Life European Private Equity Trust
TRADING ANNOUNCEMENTS
Afren, Gem Diamonds Ltd. (DI), GLOBO, Aquarius Platinum
UK ECONOMIC ANNOUNCEMENTS
GDP (Preliminary) (09:30)
Index of Services (09:30)
|
| | The Share Centre: | | Cheaper fund investing has arrived at The Share Centre.
We don't believe it's fair to charge you extra just for holding funds.
So we don't. Find out more.
Capital at risk. Click Here |
| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks edge higher as traders await UK, US data - Turkish central bank to hold emergency meeting
- UK GDP figures released
- US consumer confidence and durable goods orders data out
FTSE 100: 0.31%
DAX: 0.64%
CAC 40: 0.67%
FTSE MIB: 0.59%
IBEX 35: 1.14%
Stoxx 600: 0.67%
European stocks rose as investors awaited a batch of data and as Turkey's central bank prepared to hold an emergency meeting following a sharp fall in the nation's currency.
The Turkish central bank will meet today to discuss recent developments and take the necessary policy measures for price stability after the lira weakened against the euro and the dollar. It will lay out its plans in a statement at 22:00 GMT amid market pressure for the bank to raise interest rates.
The news of the meeting sent the lira higher today. The Indian rupee also gained after the Reserve Bank of India unexpectedly raised its benchmark repurchase rate to 8% from 7.75%.
Also on the top of today's agenda is the release of UK economic growth data. Gross domestic product is expected to show a rise of 2.8% year-on-year in the fourth quarter, up from 1.9% in the prior quarter.
US data released as Fed meeting looms
The US consumer confidence index is anticipated to dip slightly to 78 in January from 78.1 in December.
Analysts predict another report on US durable goods will reveal an increase of 1.8% in December, compared to a rise of 3.4% a month earlier.
The figures come a day before the Federal Reserve announces its latest policy decision. Policymakers have been turning to data to gauge the health of the world's biggest economy as they weigh whether to introduce another round of monetary stimulus tapering.
The Fed began unwinding monthly bond purchases by $10bn to $75bn last month and is expected to cut a further $10bn tomorrow.
"Markets may be subdued today following the recent sell-off and as investors take bets ahead of the all-important Federal Open Market Committee meeting tomorrow," according to Lee Mumford, Trader at Spreadex.
Siemens, F&C Asset Management
Siemens gained after reporting quarterly net profit that beat estimates.
F&C Asset Management advanced after Bank of Montreal bought the owner of the UK's oldest investment fund for £708m.
STMicroelectronics declined after the maker of semiconductors posted an unexpected loss for the last three months of 2013.
The euro dropped 0.10% to $1.3659.
Brent crude futures rose $0.429 to $107.150 per barrel, according to 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 | | US close: Stocks fall as investors weigh emerging markets, Fed - Investors look ahead to Fed meeting
- New home sales drop seven per cent
- Caterpillar beats forecasts, reports strong guidance
- Markets stabilise slightly after announcement from Turkish central bank
Dow Jones: -0.26%
Nasdaq: -1.07%
S&P 500: -0.46%
US stocks finished slightly lower on Monday after a choppy session as bearish pressure continued following last week's sell-off, which saw the S&P 500 register its worst weekly performance since June 2012.
Investors were also showing caution ahead to the Federal Reserve's next policy meeting which concludes on Wednesday with the central bank widely expected to continue with its plan to taper its quantitative easing programme.
The Fed, which began scaling back its monthly asset purchases in December from $85bn to $75bn, will make another $10bn cut this month, according to the consensus forecast.
Ongoing turmoil in emerging markets has hit sentiment in recent days as investors scaled back risk appetite on concerns of a slowdown in China after some weak data.
However, downside for global stock markets was limited on Monday after Turkey's central bank said it would hold an emergency monetary policy meeting in order to discuss recent developments and take necessary measures to ensure stability.
Losses, however, were more pronounced on the Nasdaq with analysts highlighting that the tech-heavy index briefly fell through its 50-day moving average.
In economic news, US new home sales fell at a month-on-month rate of 7% to a seasonally adjusted annual rate of 414,000 in December. Analysts were expecting a figure closer to 455,000.
Property Economist Paul Diggle from Capital Economics said that the decline was probably driven by last month's severe winter weather.
"Sales activity in January is likely to be weak for similar reasons. But we continue to think that new home sales will stage an encouraging rise over 2014 as a whole," he said.
Caterpillar rallies after earnings, guidance
Mining and construction equipment maker Caterpillar after announcing a $10bn share buyback and a stronger-than-expected 44% jump in fourth-quarter profits. The company also forecast earnings and revenue for 2014 ahead of analysts' estimates.
Apple rose as investors awaited the tech giant's fiscal first-quarter results. However, shares fell sharply in after-hours trade despite the company beating forecasts as its guidance for second-quarter revenue disappointed analysts.
JPMorgan Chase & Co. finished flat after the news that its Chief Executive Jamie Dimon is set to receive a significant increase in his pay.
Royal Caribbean Cruises was making decent gains despite reports that its ship Explorer of the Seas is coming back to New Jersey sooner than planned after more than 600 passengers caught a stomach bug.
Telecoms giant AT&T edged higher ahead of its results tomorrow after releasing a statement quashing speculation that it intends to make a bid for British counterpart Vodafone.
US cable operator Liberty Global was in demand after agreeing to buy Dutch company Ziggo in a €6.9bn deal.
S&P 500 - Risers
Caterpillar Inc. (CAT) $91.29 +5.94%
H&R Block Inc. (HRB) $29.27 +4.24%
Cablevision Systems Corp. (CVC) $16.51 +4.03%
Robert Half International Inc. (RHI) $41.24 +3.07%
Electronic Arts Inc. (EA) $24.47 +2.64%
Transocean Ltd. (RIG) $45.25 +2.26%
GameStop Corp. (GME) $37.32 +2.19%
Honeywell International Inc. (HON) $90.29 +2.06%
United Technologies Corp. (UTX) $113.79 +1.78%
Alcoa Inc. (AA) $11.64 +1.75%
S&P 500 - Fallers
Progressive Corp. (PGR) $23.18 -6.53%
Xerox Corp. (XRX) $10.61 -5.60%
E*TRADE Financial Corp. (ETFC) $20.07 -4.29%
Edwards Lifesciences Corp. (EW) $66.38 -3.53%
Yahoo! Inc. (YHOO) $36.65 -3.32%
Chesapeake Energy Corp. (CHK) $26.01 -3.24%
Regeneron Pharmaceuticals Inc. (REGN) $270.74 -3.17%
Janus Capital Group Inc. (JNS) $11.09 -3.14%
Mastercard Inc. (MA) $76.05 -3.13%
Priceline.Com Inc. (PCLN) $1,143.24 -3.11%
Dow Jones I.A - Risers
Caterpillar Inc. (CAT) $91.29 +5.94%
United Technologies Corp. (UTX) $113.79 +1.78%
Merck & Co. Inc. (MRK) $52.53 +1.06%
Travelers Company Inc. (TRV) $82.29 +0.83%
Boeing Co. (BA) $137.36 +0.52%
General Electric Co. (GE) $25.07 +0.48%
E.I. du Pont de Nemours and Co. (DD) $60.24 +0.45%
Nike Inc. (NKE) $71.90 +0.35%
AT&T Inc. (T) $33.51 +0.27%
Verizon Communications Inc. (VZ) $47.69 +0.13%
Dow Jones I.A - Fallers
Visa Inc. (V) $216.22 -2.27%
Microsoft Corp. (MSFT) $36.03 -2.11%
Goldman Sachs Group Inc. (GS) $164.69 -1.76%
Pfizer Inc. (PFE) $29.66 -1.43%
American Express Co. (AXP) $85.72 -1.41%
International Business Machines Corp. (IBM) $177.90 -0.97%
3M Co. (MMM) $128.96 -0.97%
Cisco Systems Inc. (CSCO) $22.00 -0.90%
Procter & Gamble Co. (PG) $78.47 -0.90%
Johnson & Johnson (JNJ) $89.94 -0.74%
Nasdaq 100 - Risers
Charter Communications Inc. (CHTR) $136.92 +4.19%
F5 Networks Inc. (FFIV) $106.50 +1.52%
Illumina Inc. (ILMN) $140.25 +1.18%
Nxp Semiconductors Nv (NXPI) $46.00 +0.92%
Costco Wholesale Corp. (COST) $113.08 +0.85%
Apple Inc. (AAPL) $550.50 +0.81%
Ross Stores Inc. (ROST) $68.28 +0.66%
PACCAR Inc. (PCAR) $56.55 +0.55%
Sirius XM Holdings Inc (SIRI) $3.66 +0.55%
Liberty Media Corporation - Class A (LMCA) $134.47 +0.50%
Nasdaq 100 - Fallers
Yahoo! Inc. (YHOO) $36.65 -3.32%
Vodafone Group Plc ADS (VOD) $36.80 -3.26%
Regeneron Pharmaceuticals Inc. (REGN) $270.74 -3.17%
Priceline.Com Inc. (PCLN) $1,143.24 -3.11%
Celgene Corp. (CELG) $156.27 -3.07%
TripAdvisor Inc. (TRIP) $77.91 -3.05%
Alexion Pharmaceuticals Inc. (ALXN) $129.82 -2.86%
Tesla Motors Inc (TSLA) $169.62 -2.85%
eBay Inc. (EBAY) $52.88 -2.74%
Applied Materials Inc. (AMAT) $16.72 -2.62% |
| | iPad mini worth £269 for new trading accounts! | | A minimum volume is required. Terms and conditions apply. Find out more, click here. |
| | Newspaper Round Up | | Tuesday newspaper round-up: Britain, Smartphones, Oil Britain is growing as fast as it was before the financial crisis and the outlook is "buoyant", according to a new economic indicator produced by the CBI. The employers' group released its upbeat projection before today's official growth figures, which are expected to show that the economy expanded by 1.9 per cent last year — the best performance in six years. – The Times
Global smartphone shipments surpassed 1bn last year for the first time, driven by demand for cheaper devices amid signs of slowing growth in the increasingly crowded higher end of the market. IDC, a technology research group, estimated that smartphone shipments in 2013 rose to just over 1bn – a 38% increase from the previous year and double the 494m recorded in 2011. – Financial Times
Thousands of Ford workers are being balloted for strike action in a row over job security and pensions. Members of the Unite and GMB unions will vote on whether to launch a campaign of industrial action aimed at safeguarding jobs after recent cuts led to Ford ending 100 years of vehicle production at its plant in Southampton. Unite has accused the American carmaker of leaving UK workers to bear the brunt of cuts, in the wake of the decision to move production of the Transit van from Britain to Turkey. – The Guardian
Fidelity, the world's biggest institutional investor, has warned that the "tide is going out of emerging markets", as authorities in Turkey and Argentina moved to shore up their currencies and stock markets fell around the world. Dominic Rossi, global chief investment officer at Fidelity, said the end of quantitative easing in the West and changes in Chinese fiscal policies were "forcing up the cost of capital across the emerging markets asset class". – Daily Telegraph
Governments need to deter oil speculators, set aside reserves of crude oil and take steps urgently to reduce their dependence on fossil fuels in order to escape price volatility that undermines stable economic growth, according to a report co-authored by one of Britain's top scientists. The exploitation of shale oil and gas may mitigate damaging price fluctuations in future but it will be terrible news for the environment and is not a longer term solution to the world's energy needs, said the report co-written by Sir David King, published on Tuesday. - The Guardian
Emerging market countries faced fresh pressure on Monday to put up interest rates as Brazil warned that others would need to follow its lead in tightening monetary policy and Turkey's central bank convened an emergency rate-setting meeting. Alexandre Tombini, Brazil's central bank governor, said the "vacuum cleaner" of rising interest rates in the developed world would suck money out of emerging markets and force other central banks to tighten policy to beat inflation. – The Times | | |
New ADVFN Service - FREE Reports Get your free report on Isa's, Investment Trusts, Funds,
Sipps Travel and Cars - FREE and Easy service CLICK HERE
To advertise in the Euro Markets Bulletin please contact patrick@advfn.co.uk |
| | | | | | | To unsubscribe from this news bulletin or edit your mailing list settings click here. Registered Office/Accounts Dept: Suite 27, Essex Technology Centre, The Gable, Fyfield Road, Ongar, CM5 0GA. Customer Support +44 (0) 207 0700 961. Company registered in England and Wales: Number 2374988 VAT No. GB 549 2130 49 | |
No comments:
Post a Comment