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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: Markets flat as investors await Eurozone CPI - Eurozone CPI data in focus ahead of ECB meeting
- US jobs report to be closely watched
- Jefferies lifts Ashtead, ITV and BSkyB early on
- Dunelm falls after Q2 sales update
techMARK 2,791.39 -0.03%
FTSE 100 6,728.37 -0.04%
FTSE 250 16,030.92 -0.11%
UK markets opened flat once again on Tuesday morning as investors adopted a cautious approach ahead of some key inflation figures from the Eurozone.
Eurozone consumer price index (CPI) data will be under scrutiny today ahead of the European Central Bank (ECB) policy decision later this week. The consensus estimate is for the annual rate of inflation in December to be unchanged from 0.9% in November, after having picked up from a four-year low of 0.7% in October.
However, analysts at Danske Bank said they expect a fall in the CPI back down to 0.7%. "Although the expected decline puts pressure on the ECB, we do not expect more easing at the meeting on Thursday," they added.
The FTSE 100 was trading little changed for a second straight day, down just 0.04% at 6,728.37. The index has traded within a narrow range over the last week or so, treading water just above the 6,700 level as volumes begin to pick up after a relatively quiet festive season.
After the absence of any major macro news over Christmas, the economic data schedule has ramped up this week, with figures yesterday showing that activity in the global services sector - whilst still growing - had slowed slightly in December. This followed some disappointing manufacturing purchasing managers' indices from several nations last week.
In the coming days, central bank meetings in the UK and Europe, the minutes of the latest Federal Open Market Committee meeting and the all-important US jobs report are likely to grab the most attention.
Regarding for the US labour-market figures, Alex Conroy, Financial Trader at Spreadex, said: "Investors appear cautious ahead of the upcoming non-farm employment data due to be released on Friday, which could generate huge volatility if it fails to support the decision to start tapering."
Ashtead, ITV, BSkyB up on Jefferies comments
Construction equipment rental firm Ashtead was a high riser today after Jefferies upped its target for the stock, saying it sees upside risk to estimates, citing "strong […] trading momentum" and a "supportive 2014 macro outlook".
Media groups ITV and BSkyB were also making gains after comments from Jefferies as it upgraded the stocks to 'buy' and 'hold', respectively.
Supermarket chain Sainsbury continues to trade lower ahead of its Christmas sales update later this week. Bank of America Merrill Lynch cut its rating for the shares to 'underperform' this morning. Rival retailer Morrison was also in the red.
Severn Trent, meanwhile, was hit by a downgrade by JPMorgan Cazenove to 'underweight'.
UK homeware retailer Dunelm was a heavy faller early on despite returning to like-for-like (LFL) sales growth in the second quarter after a tough start to the year. Nevertheless, the improvement wasn't enough to stop LFL sales for the first half falling by 0.9%. |
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| FTSE 100 - Risers
Ashtead Group (AHT) 802.50p +1.58%
William Hill (WMH) 409.50p +1.21%
British Sky Broadcasting Group (BSY) 844.50p +1.02%
Standard Life (SL.) 363.20p +0.86%
Lloyds Banking Group (LLOY) 80.75p +0.80%
Old Mutual (OML) 191.30p +0.79%
Sports Direct International (SPD) 746.00p +0.74%
Aberdeen Asset Management (ADN) 494.60p +0.73%
Next (NXT) 6,215.00p +0.73%
ITV (ITV) 199.10p +0.71%
FTSE 100 - Fallers
Morrison (Wm) Supermarkets (MRW) 251.70p -1.79%
Sainsbury (J) (SBRY) 361.20p -1.79%
RSA Insurance Group (RSA) 96.20p -1.74%
Severn Trent (SVT) 1,675.00p -1.70%
Fresnillo (FRES) 723.50p -1.63%
Rio Tinto (RIO) 3,214.00p -1.59%
Burberry Group (BRBY) 1,482.00p -1.53%
Hargreaves Lansdown (HL.) 1,472.00p -1.27%
Anglo American (AAL) 1,262.00p -1.02%
Centrica (CNA) 339.00p -1.02%
FTSE 250 - Risers
KCOM Group (KCOM) 98.30p +1.71%
Cobham (COB) 275.60p +1.44%
Hays (HAS) 136.20p +1.19%
Fidessa Group (FDSA) 2,320.00p +1.18%
Kenmare Resources (KMR) 19.95p +1.01%
Cable & Wireless Communications (CWC) 56.85p +0.98%
Merlin Entertainments (MERL) 365.00p +0.97%
Millennium & Copthorne Hotels (MLC) 600.50p +0.92%
UBM (UBM) 669.50p +0.90%
Kentz Corporation Ltd. (KENZ) 653.50p +0.85%
FTSE 250 - Fallers
Dunelm Group (DNLM) 918.50p -6.18%
Bwin.party Digital Entertainment (BPTY) 121.30p -2.96%
888 Holdings (888) 165.60p -2.42%
Evraz (EVR) 108.00p -2.26%
Debenhams (DEB) 75.60p -2.14%
Rank Group (RNK) 141.00p -1.81%
Polymetal International (POLY) 554.50p -1.77%
Ted Baker (TED) 2,160.00p -1.77%
Ferrexpo (FXPO) 180.90p -1.58% |
| | UK Event Calendar | | Tuesday January 07
INTERIM DIVIDEND PAYMENT DATE
Hill & Smith Holdings, Management Consulting Group, Sepura, TR Property Inv Trust
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Trade (US) (13:30)
Consumer Credit (US) (20:00)
International Reserves (EU) (11:00)
PMI Construction (GER) (08:55)
Producer Price Index (EU) (10:00)
Unemployment Rate (GER) (08:55)
GMS
Kazakhmys
IMSS
Topps Tiles
TRADING ANNOUNCEMENTS
Dunelm Group
UK ECONOMIC ANNOUNCEMENTS
New Car Registrations (09:30)
|
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| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks little changed before German jobs data - Investors turn to German jobs data
- Yellen confirmed as Fed Chair
- China imposes new shadow-banking rules
FTSE 100: 0.00%
DAX: -0.02%
CAC 40: -0.17%
FTSE MIB: -0.06%
IBEX 35: 0.28%
Stoxx 600: 0.02%
European stocks were little changed at the opening bell as investors waited on German jobs data to gauge the health of Europe's biggest economy.
Unemployment in Germany is expected to have declined by 2,000 in December, while the jobless rate remained unchanged, according to the consensus forecast. Unemployment rose for a fourth consecutive month November by 10,000.
"German unemployment has remained remarkably low throughout both the initial financial crisis and then the debt crisis, both when compared to the likes of the US and the UK and, particularly, the rest of the Eurozone," Craig Erlam, Market Analyst at Alpari, noted.
The Eurozone consumer price index (CPI) will also be released this morning and is anticipated to remain unchanged at 0.9%.
Concerns over falling inflation towards the end of last year prompted the European Central Bank (ECB) to cut interest rates to a record low of 0.25%.
The ECB is targeting inflation of close to but below 2% but analysts believe morning's CPI is unlikely to spur further action from the central bank at this stage.
In the US, Janet Yellen last night won Senate confirmation with a 56-26 vote to become the new Chair of the Federal Reserve, replacing Ben Bernanke. Bernanke's second term as Chairman expires January 31st after the Fed's next policy meeting when it may announce a further reduction to monetary stimulus.
Meanwhile, China has imposed new rules to control its shadow-banking industry, according to reports. It is understood the controls include a ban on transactions designed to avoid regulations, such as moving interbank loans off balance sheets to reduce reported levels of lending.
Swedish Match, BSkyB
Swedish Match declined after Citigroup advised investors to sell the shares.
BskyB gained following reports that it is interested in buying Channel 5.
Sainsbury traded lower ahead of its Christmas sales update later this week. Bank of America Merrill Lynch cut its rating for the shares to 'underperform' this morning. Rival retailer Morrison was also in the red.
The euro fell 0.07% to $1.3620.
Brent crude futures rose $0.522 to $107.300 per barrel, according to ICE data. |
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| | US Market Report | | US close: Global services data dampens stocks - ISM services index eases in December
- Factory orders beat expectations in November
- Yellen confirmed as next Fed Chair
- T-Mobile in 3.3bn-dollar spectrum deal with VZW
Dow Jones: -0.27%
Nasdaq: -0.44%
S&P 500: -0.25%
US stocks finished lower for a third day on Monday after a report showed that service-sector activity growth had slowed across the globe in December.
According to Bloomberg, this is the longest losing streak to start a year for the S&P 500 since 2005.
Following a quiet festive season in terms of corporate news and economic data, the schedule will ramp up this week with the minutes of the latest Federal Open Market Committee meeting and the all-important jobs report likely to grab the most attention.
The Fed was again in focus on Monday after the US Senate approved Janet Yellen as the next Chair of the central bank, replacing Ben Bernanke who steps down at the end of the month. The vote was 56 to 26.
Economic data in focus
The Institute for Supply Management's US non-manufacturing purchasing managers' index (PMI) for December unexpectedly fell from 53.9 to 53, showing that activity growth eased last month. Analysts had expected the PMI to rise to 54.7.
This follows a raft of service-sector PMIs released earlier today which showed that growth had also slowed slightly last month in China, the Eurozone and the UK.
Separately, data showed that factory orders in the US rose 1.8% in November compared with a revised 0.5% fall in October and ahead of the 1.7% gain expected.
T-Mobile to buy spectrum from Verizon
T-Mobile's shares gained after the US wireless carrier agreed to buy spectrum licences from Verizon Wireless for about $2.4bn, along with the transfer of spectrum worth $950m.
"This is a great opportunity to secure low-band spectrum in many of the top markets in America," said T-Mobile Chief Exectuvie John Legere.
General Electric edged lower after saying it will buy some assets from Thermo Scientific for about $1.06bn to grow its life sciences division.
Solar power firm SolarCity jumped after Goldman Sachs added the stock to its 'conviction buy' list, while First Solar fell after the bank downgraded it to 'sell'.
Goldman Sachs also dampened the share price of Twitter after labelling the stock as a 'sell', raising concerns about online advertising revenues.
S&P 500 - Risers
St Jude Medical Inc. (STJ) $63.64 +4.00%
Boston Scientific Corp. (BSX) $12.33 +3.35%
Vertex Pharmaceuticals Inc. (VRTX) $75.50 +2.79%
Genworth Financial Inc. (GNW) $15.78 +2.53%
Rockwell Collins Inc. (COL) $75.67 +2.52%
Ventas Inc. (VTR) $58.20 +2.48%
Health Care REIT Inc. (HCN) $54.29 +2.34%
Regions Financial Corp. (RF) $10.07 +2.03%
HCP Inc. (HCP) $36.81 +1.74%
Goodyear Tire & Rubber Co. (GT) $23.76 +1.67%
S&P 500 - Fallers
First Solar Inc. (FSLR) $51.26 -9.66%
Celgene Corp. (CELG) $162.62 -4.23%
AbbVie Inc (ABBV) $50.39 -3.65%
Whole Foods Market Inc. (WFM) $54.30 -3.54%
Plum Creek Timber Co. (PCL) $44.75 -3.43%
Best Buy Co. Inc. (BBY) $39.41 -3.12%
Sears Holdings Corp. (SHLD) $44.78 -2.93%
Staples Inc. (SPLS) $15.33 -2.91%
Kansas City Southern (KSU) $116.37 -2.84%
eBay Inc. (EBAY) $51.77 -2.80%
Dow Jones I.A - Risers
Goldman Sachs Group Inc. (GS) $179.37 +0.68%
JP Morgan Chase & Co. (JPM) $59.00 +0.58%
Boeing Co. (BA) $138.41 +0.57%
Verizon Communications Inc. (VZ) $48.69 +0.56%
Johnson & Johnson (JNJ) $92.33 +0.52%
AT&T Inc. (T) $34.96 +0.46%
Procter & Gamble Co. (PG) $80.64 +0.24%
Cisco Systems Inc. (CSCO) $22.02 +0.18%
Exxon Mobil Corp. (XOM) $99.66 +0.15%
Pfizer Inc. (PFE) $30.55 +0.10%
Dow Jones I.A - Fallers
Microsoft Corp. (MSFT) $36.13 -2.11%
Caterpillar Inc. (CAT) $88.64 -1.31%
E.I. du Pont de Nemours and Co. (DD) $62.96 -1.29%
Intel Corp. (INTC) $25.46 -1.24%
Unitedhealth Group Inc. (UNH) $74.24 -1.15%
Home Depot Inc. (HD) $81.10 -0.96%
General Electric Co. (GE) $27.26 -0.80%
Nike Inc. (NKE) $77.43 -0.77%
McDonald's Corp. (MCD) $95.85 -0.71%
Visa Inc. (V) $219.83 -0.60%
Nasdaq 100 - Risers
Sirius XM Holdings Inc (SIRI) $3.83 +7.28%
Facebook Inc. (FB) $57.18 +4.81%
Vertex Pharmaceuticals Inc. (VRTX) $75.50 +2.79%
Green Mountain Coffee Roasters Inc. (GMCR) $76.95 +1.58%
Liberty Global plc Series A (LBTYA) $89.98 +1.56%
Nvidia Corp. (NVDA) $15.88 +1.34%
Charter Communications Inc. (CHTR) $135.00 +1.22%
Google Inc. (GOOG) $1,117.32 +1.11%
PACCAR Inc. (PCAR) $59.16 +0.90%
Vodafone Group Plc ADS (VOD) $38.74 +0.86%
Nasdaq 100 - Fallers
Celgene Corp. (CELG) $162.62 -4.23%
Whole Foods Market Inc. (WFM) $54.30 -3.54%
Staples Inc. (SPLS) $15.33 -2.91%
eBay Inc. (EBAY) $51.77 -2.80%
Randgold Resources Ltd. Ads (GOLD) $61.89 -2.40%
Citrix Systems Inc. (CTXS) $61.01 -2.36%
Verisk Analytics Inc. (VRSK) $63.65 -2.27%
Liberty Media Corporation - Class A (LMCA) $142.09 -2.23%
Microsoft Corp. (MSFT) $36.13 -2.11%
Adobe Systems Inc. (ADBE) $58.12 -1.76% |
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| | Newspaper Round Up | | Tuesday newspaper round-up: UK lending, Yellen, JPMorgan... Britain's rapid recovery will be hampered in 2014 unless the government acts to encourage corporate lending, a leading business group warns on Tuesday. The British Chambers of Commerce said growth this year will remain steady, but restrictions on lending to small and medium-sized businesses will restrict the pace of expansion. - The Guardian
The US Senate on Monday approved Janet Yellen as head of the Federal Reserve, making her the first female chief of the US central bank. She was approved in a 56-26 vote, with some senators who had threatened to vote against her unable to get to Washington DC because of flight delays. - Financial Times
JP Morgan is set for another $2bn in fines, putting the bank on track to pay out $22.2bn - more than a fifth of its revenues - in fines and settlements in the current financial year. Regulators and federal prosecutors in the US are preparing to fine the investment bank around $2bn, after it allegedly ignored signs of Bernie Madoff's Ponzi scheme. The settlement could be finalised as early as Tuesday, according to reports. - The Telegraph
Samsung sought to capitalise on its wider range of consumer devices in its ongoing contest with rivals such as Apple, as it launched a new "smart home" initiative that connects smartphones to home appliances like refrigerators. At the Consumer Electronics Show in Las Vegas, the South Korean electronics giant also showed off new curved television screens in ultra-high-definition and a 12-inch tablet aimed at business customers. - Financial Times
The Canadian gold mining group part-owned by Borders-based mining tycoon Harry Dobson yesterday said it would look at a potential sale of the company. Kirkland Lake Gold, which has seen its market value drop sharply over the past year due to the falling value of gold, said it had launched a strategic review to look at ways to improve shareholder value. - The Scotsman
Britain's car market sped up in 2013 to record its best year for sales since before the financial crisis. A combination of cheap credit and improved consumer confidence saw households buy more than 2.26m vehicles in the past 12 months, a rise of 10.5% on 2012. The total beat the Society of Motor Manufacturers and Traders' (SMMT) official estimate of 2.25m vehicles and consolidates the UK's position as Europe's second-largest car market behind Germany. - The Telegraph
Energy companies should be simpler and more open with businesses about the prices they charge to supply gas and electricity, according to the main lobby group for small entrepreneurs. Days after the Government forced the big utility suppliers to make tariffs more transparent for householders, including telling them which deal is the cheapest, the same regime should apply for their commercial customers, the Federation for Small Businesses said. - The Times | | |
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