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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 at one-month high as Vodafone, RBS gain - Vodafone, RBS and Glaxo provide a lift
- IHG, Glencore Xstrata hit by downgrades
- FTSE 100 at highest intraday level in month
techMARK 2,891.98 +0.55%
FTSE 100 6,840.31 +0.40%
FTSE 250 16,419.58 +0.31%
Strong gains from heavyweights Vodafone, RBS and GlaxoSmithKline gave UK markets a boost on Friday with stocks rising to levels not seen in a month.
The FTSE 100 was trading 0.4% higher at 6,840 early on, its highest intraday level since January 22nd.
A decent performance on Wall Street last night has helped to spur buying this morning, as US indices turned around after a poor start as data showed that manufacturing activity Stateside rose to a four-year high.
"I think this clearly highlights the fact that the market is still generally bullish and is once again looking for any excuse to buy," said Market Analyst Craig Erlam from Alpari.
After a data-heavy week, today's session is set to be a little quieter on the macro front, though UK retail sales and public-sector borrowing figures will catch investors' attentions this morning.
Vodafone, RBS and Glaxo provide a lift
Telecoms titan Vodafone was making decent gains this morning with shareholders set to receive a windfall from the company's sale of its 45% stake in Verizon Wireless. The $130bn cash and shares deal is set to complete today.
RBS was higher amid reports that the bank will announce plans to slash as many as 30,000 jobs, reducing its staff count to the lowest levels in more than 10 years.
Pharmaceuticals giant GlaxoSmithKline was higher after European regulators recommended marketing authorisation for umeclidinium, its once-daily treatment to relieve symptoms in adult patients with chronic obstructive pulmonary disease.
Millennium & Copthorne, the FTSE 250 hotel firm, jumped after reporting record revenues and profits for 2013 as fourth-quarter results were boosted by the one-off sale of the bulk of the Glyndebourne development in Singapore.
Sector peer InterContinental Hotels Group, however, was trading in the red after Credit Suisse lowered its recommendation to 'underperform', pointing out that the shares are trading within just 4% of their all-time high at a price-to-earnings ratio of 23.
Glencore Xstrata was also lower after JPMorgan Cazenove downgraded its rating on the stock to 'neutral', saying that its peers have overtaken it in terms of capital returns potential. |
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| | FTSE 100 - Risers
William Hill (WMH) 356.20p +3.01%
Vodafone Group (VOD) 229.60p +2.80%
Petrofac Ltd. (PFC) 1,360.00p +2.26%
Centrica (CNA) 320.60p +2.10%
Associated British Foods (ABF) 2,967.00p +1.78%
Travis Perkins (TPK) 1,966.00p +1.71%
SSE (SSE) 1,420.00p +1.50%
Persimmon (PSN) 1,437.00p +1.41%
Weir Group (WEIR) 2,328.00p +1.35%
Hammerson (HMSO) 576.00p +1.23%
FTSE 100 - Fallers
BAE Systems (BA.) 400.40p -8.33%
Hargreaves Lansdown (HL.) 1,321.00p -2.29%
Aberdeen Asset Management (ADN) 386.00p -2.28%
Anglo American (AAL) 1,554.00p -2.20%
Glencore Xstrata (GLEN) 340.45p -2.13%
Rexam (REX) 515.00p -1.81%
Wolseley (WOS) 3,317.00p -1.57%
Smiths Group (SMIN) 1,390.00p -1.42%
GKN (GKN) 408.30p -1.31%
Randgold Resources Ltd. (RRS) 4,786.00p -1.07%
FTSE 250 - Risers
Playtech (PTEC) 785.00p +5.94%
Petra Diamonds Ltd.(DI) (PDL) 165.10p +5.43%
Home Retail Group (HOME) 191.20p +5.29%
Essar Energy (ESSR) 64.70p +4.19%
Fidessa Group (FDSA) 2,461.00p +2.93%
Wood Group (John) (WG.) 746.50p +2.89%
Hunting (HTG) 820.00p +2.76%
PayPoint (PAY) 1,184.00p +2.51%
IP Group (IPO) 214.10p +2.49%
Dunelm Group (DNLM) 935.00p +2.41%
FTSE 250 - Fallers
Vedanta Resources (VED) 858.00p -5.71%
Essentra (ESNT) 845.00p -5.48%
Hays (HAS) 135.50p -2.94%
Polymetal International (POLY) 641.00p -2.88%
Smith (DS) (SMDS) 340.70p -2.85%
Keller Group (KLR) 1,245.00p -2.81%
Cobham (COB) 287.10p -2.68%
Ferrexpo (FXPO) 160.00p -2.44%
BH Global Ltd. USD Shares (BHGU) 11.26 -2.34%
Centamin (DI) (CEY) 50.45p -2.32%
FTSE TechMARK - Risers
Sarossa Capital (SRC) 1.62p +13.64%
Promethean World (PRW) 37.75p +11.03%
Phoenix IT Group (PNX) 122.00p +3.61%
Ark Therapeutics Group (AKT) 0.47p +2.17%
Anite (AIE) 88.75p +2.01%
Gresham Computing (GHT) 126.00p +1.20%
Wolfson Microelectronics (WLF) 128.75p +1.18%
Optos (OPTS) 204.75p +0.99%
NCC Group (NCC) 209.00p +0.97%
Innovation Group (TIG) 33.75p +0.75%
FTSE TechMARK - Fallers
BATM Advanced Communications Ltd. (BVC) 16.00p -3.03%
Consort Medical (CSRT) 1,054.00p -2.77%
Oxford Biomedica (OXB) 3.17p -2.31%
Kofax Limited (DI) (KFX) 476.75p -1.70%
Dialight (DIA) 765.00p -1.35%
RM (RM.) 147.50p -1.01%
Torotrak (TRK) 21.25p -0.58%
Skyepharma (SKP) 184.00p -0.54%
IShares Euro Gov Bond 7-10YR UCITS ETF (IEGM) € 183.06 -0.32%
XP Power Ltd. (DI) (XPP) 1,745.00p -0.29% |
| | INTERIM DIVIDEND PAYMENT DATE
ACM Shipping Group, Fletcher King, NCC Group, Puma High Income VCT , Puma Vct 8, Puma Vct VII, Tricorn Group
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Existing Home Sales (US) (15:00)
Q4
Millennium & Copthorne Hotels
FINALS
Informa, Millennium & Copthorne Hotels, Pentagon Protection
EGMS
JSC Kazkommertsbank GDR (Reg S)
UK ECONOMIC ANNOUNCEMENTS
Internet Retail Sales (09:30)
Public Sector Finances (09:30)
Retail Sales (09:30)
FINAL DIVIDEND PAYMENT DATE
RWS Holdings, Titon Holdings, Victrex plc |
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| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks little changed after mixed data - Investors weigh mixed data
- British retail sales and public finances to be released
- EU imposes Ukraine sanctions
FTSE 100: 0.44%
DAX: 0.08%
CAC 40: 0.06%
FTSE MIB: -0.32%
IBEX 35: -0.27%
Stoxx 600: 0.25%
European stocks were little changed as investors weighed mixed economic data in the Eurozone and the US yesterday.
Weaker-than-expected Eurozone manufacturing and services data pushed stocks lower at the start of the session yesterday, but a stronger-than-predicted US manufacturing report saw the market pick up later on.
The purchasing managers' index (PMI) for manufacturing in the euro-area slipped to 53 from 54 in January, while the services measure rose to 51.7 from 51.6, Markit Economics. Economists had predicted a reading of 54 for manufacturing and 51.9 for services. However, it remained above the 50 level that signals expansion.
Markit's US 'flash' manufacturing purchasing managers' index (PMI) jumped to 56.7 in February, up from a three-month low of 53.7 in January, representing the best growth in activity since May 2010 and exceeding the 53.6 forecast.
Also in the US consumer prices rose by 1.6% year-on-year in January, up from the 1.5% rate a month earlier, as expected. On the month inflation increased 0.1%, matching economists' estimates, easing from 0.2% in December.
Today's agenda will be relatively quiet with the focus on British retail sales, UK public finances and US existing home sales.
EU agrees to Ukraine sanctions
The European Union (EU) has agreed to impose sanctions on Ukrainian officials "responsible for violence" which have left about 75 people dead.
EU foreign ministers said targeted sanctions including asset freezes and visa bans would be introduced as a matter of urgency.
"No circumstances can justify the repression we are currently witnessing," a statement from EU foreign ministers said on Thursday.
Three months ago the EU had hoped Ukraine would sign a far-reaching trade and cooperation deal with Brussels, but Yanukovich turned it down in late November.
The nation instead won a $15bn bailout deal from Russia, which sparked weeks of street protests that picked up this week.
Valeo, Axa
Valeo gained after the French auto-parts maker posted half-year earnings that beat analysts' estimates.
Axa SA declined after Europe's second-largest insurer reported full-year profit that fell short of market expectations.
Kering SA dropped after growth at its Gucci luxury-goods brand slowed more than analysts had projected.
The euro fell 0.05% to $1.3712.
Brent crude futures dipped $0.182 to $110.100 per barrel, according to the ICE. |
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| | US Market Report | | US close: Stocks rally after weak start, Facebook erases losses - Wal-Mart falls, Facebook erases losses to end higher
- US manufacturing PMI jumps to four-year high
- CPI inflation picks up, other data comes in mixed
Dow Jones: 0.58%
Nasdaq: 0.71%
S&P 500: 0.62%
US markets managed to finish with decent gains on Thursday, as a surge in domestic manufacturing activity to a four-year high and a strong performance from Facebook helped to erase earlier losses.
Markets were also shrugging off weak economic from overseas which showed a worse-than-expected contraction in Chinese manufacturing and a slowdown in activity growth in the Eurozone.
The Dow Jones Industrial Average rose 0.6%; the Nasdaq gained 0.7%; while the S&P 500 finished 0.6% higher to close within 10 points of its all-time high.
Indices had got off to a weak start after the opening bell as Wal-Mart, the world's biggest retailer, disappointed with weaker-than-expected guidance for the current year. Facebook initially fell after agreeing to buy social media messaging company WhatsApp for $19bn, but turned higher by the close as investors grew more positive on the deal.
Investors were still digesting last night's minutes from the latest Federal Reserve meeting, at which the central bank re-affirmed its commitment to continue tapering in "measured steps" despite recent weak economic data. Furthermore, some policymakers even suggested raising interest rates "relatively soon".
Manufacturing PMI surges, inflation picks up
Markit's US 'flash' manufacturing purchasing managers' index (PMI) jumped to 56.7 in February, up from a three-month low of 53.7 in January, representing the best growth in activity since May 2010.
Consumer prices rose by 1.6% year-on-year in January, up from the 1.5% rate a month earlier, as expected. On the month inflation increased 0.1%, matching economists' estimates, easing from 0.2% in December.
Jobless claims decreased by 3,000 to 336,000 in the week ending February 15th, according to the US Department of Labor, more or less in line with the consensus forecast for 335,000.
The Leading Indicators index increased by 0.3% in January, as expected, following a revised 0% reading the month before.
The Philadelphia Fed manufacturing index dropped to -6.3 in February, down from 9.4 before and the 8.0 expected by analysts.
Wal-Mart, Facebook provide a drag
Wal-Mart fell after fourth-quarter earnings per share (EPS) came in at the bottom end of guidance. The company also said that adjusted EPS would come in between $5.10-5.45 in the year ending January 2015, compared with the $5.54 expected by analysts, and that sales would grow at the low-end of the projected 3-5% range.
Facebook erased losses to swing into positive territory by the close as investors reacted to the $19bn acquisition of WhatsApp, marking the largest single deal in company's 10-year history. How the service will pay for itself is not yet clear. Chief Executive Mark Zuckerberg noted that advertising may not be the best way of monetising mobile messaging but did not offer alternatives.
Electric car maker Tesla Motors was extending gains after impressing the market with earnings yesterday, as it narrowed losses in the fourth quarter on revenues which doubled to $615m. The company also said it expects a 55% increase in production this year.
Safeway, the second-biggest grocer in the US, rose after rumours that the company is considering a sale of some or all of the business.
S&P 500 - Risers
Quanta Services Inc. (PWR) $34.54 +7.60%
Citrix Systems Inc. (CTXS) $60.59 +5.85%
Actavis plc (ACT) $220.37 +4.66%
Public Service Enterprise Group Inc. (PEG) $36.53 +4.46%
Delta Airlines Inc. (DAL) $31.84 +4.15%
Perrigo Company plc (PRGO) $161.03 +4.08%
Nabors Industries Ltd. (NBR) $21.96 +3.83%
Williams Companies Inc. (WMB) $42.00 +3.70%
Southwest Airlines Co. (LUV) $21.70 +3.58%
Forest Laboratories Inc. (FRX) $97.30 +3.53%
S&P 500 - Fallers
Cliffs Natural Resources Inc. (CLF) $21.44 -2.37%
Cabot Oil & Gas Corp. (COG) $39.28 -1.97%
Newfield Exploration Co (NFX) $25.22 -1.94%
Adt Corp (ADT) $30.86 -1.88%
Valero Energy Corp. (VLO) $49.59 -1.80%
Wal-Mart Stores Inc. (WMT) $73.52 -1.78%
Apartment Investment & Management Co. (AIV) $29.28 -1.61%
Urban Outfitters Inc. (URBN) $35.75 -1.57%
Denbury Resources Inc. (DNR) $15.95 -1.48%
CME Group Inc. (CME) $73.76 -1.35%
Dow Jones I.A - Risers
Verizon Communications Inc. (VZ) $48.12 +3.42%
E.I. du Pont de Nemours and Co. (DD) $65.35 +1.70%
Exxon Mobil Corp. (XOM) $95.37 +1.51%
Merck & Co. Inc. (MRK) $55.81 +1.40%
Home Depot Inc. (HD) $77.48 +1.35%
Nike Inc. (NKE) $75.58 +1.02%
AT&T Inc. (T) $33.18 +1.00%
Intel Corp. (INTC) $24.74 +0.98%
Boeing Co. (BA) $129.56 +0.91%
United Technologies Corp. (UTX) $115.05 +0.89%
Dow Jones I.A - Fallers
Wal-Mart Stores Inc. (WMT) $73.52 -1.78%
General Electric Co. (GE) $25.12 -1.10%
Procter & Gamble Co. (PG) $77.92 -0.28%
Travelers Company Inc. (TRV) $83.81 -0.24%
Visa Inc. (V) $223.46 -0.19%
Unitedhealth Group Inc. (UNH) $73.48 -0.10%
Nasdaq 100 - Risers
Tesla Motors Inc (TSLA) $209.97 +8.43%
Citrix Systems Inc. (CTXS) $60.59 +5.85%
Green Mountain Coffee Roasters Inc. (GMCR) $123.74 +4.92%
Vodafone Group Plc ADS (VOD) $38.74 +3.78%
Nvidia Corp. (NVDA) $18.78 +3.53%
TripAdvisor Inc. (TRIP) $96.80 +3.24%
DIRECTV (DTV) $75.08 +2.93%
Facebook Inc. (FB) $69.63 +2.31%
Avago Technologies Ltd. (AVGO) $59.00 +2.25%
Vimpelcom Ltd Ads (VIP) $10.22 +2.20%
Nasdaq 100 - Fallers
Equinix Inc. (EQIX) $187.95 -2.42%
Dollar Tree Inc (DLTR) $51.52 -1.28%
Apple Inc. (AAPL) $531.15 -1.16%
NetApp Inc. (NTAP) $40.18 -0.86%
Alexion Pharmaceuticals Inc. (ALXN) $179.06 -0.75%
Paychex Inc. (PAYX) $41.27 -0.58%
Bed Bath & Beyond Inc. (BBBY) $65.13 -0.55%
Intuitive Surgical Inc. (ISRG) $438.01 -0.44%
Analog Devices Inc. (ADI) $51.40 -0.33%
Twenty-First Century Fox Inc Class A (FOXA) $32.67 -0.31% |
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| | Newspaper Round Up | | Friday newspaper round-up: Centrica, Lloyds, RBS... The boss of Centrica has refused to commit to another year at the helm of the British Gas owner as frustration mounts at political attacks on the energy industry. Sam Laidlaw, Centrica's chief executive, has been the target of personal attacks by consumer groups and politicians in recent months over rising household gas and electricity bills. – The Times
Lloyds Banking Group is facing a run-in with retail and institutional bond investors after threatening to buy back bil. of its high-interest-bearing debts at less than their face value. More than 120,000 investors bought into more than £7.5bn of bonds issued by the bank in 2009 to help to keep it out of the Government's emergency insurance scheme for toxic securities. – The Times
Royal Bank of Scotland is preparing a dramatic retrenchment that would see it become a much smaller UK retail and commercial bank in a move that is expected to slash staff numbers by at least 30,000 in the coming years. The bank, which is 81% owned by the government, is next week expected to announce its withdrawal from many of its riskier investment banking activities alongside a plan to offload much of its international business. – Financial Times
Europe lurched towards its first civil war this century last night after police snipers killed scores of protesters in central Kiev in a sharp escalation of the violence threatening to split Ukraine. In three hours, more than 60 demonstrators were shot dead and hundreds wounded by volleys of rooftop fire, doctors sympathetic to the protests claimed. It was the largest violent loss of life in a single day on European soil since the Madrid train bombings in 2004. – The Times
Boots the Chemist, founded by Quakers in 1849, has signed an exclusive deal with a subsidiary of Imperial Tobacco that means the high street chain will be selling electronic cigarettes from Monday. The Puritane product has been developed by Fontem Ventures in collaboration with Boots and will be sold over the pharmacy counter. The product does not have a medicines licence. – The Times
Nigerian president Goodluck Jonathan has suspended central bank governor Lamido Sanusi, removing an increasingly outspoken critic of the government's record on tackling rampant corruption in Africa's leading energy producer. Currency, bond and money markets stopped trading because of the uncertainty created by the suspension. Trading in the naira currency resumed after the central bank intervened with dollar sales, by which time debt markets were closed. – Daily Telegraph | | |
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