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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 higher after five-day losing streak - Upside limited ahead of data, policy decisions
- Hargreaves Lansdown drops after H1 results
- RSA appoints Stephen Hester as CEO
techMARK 2,762.78 +0.61%
FTSE 100 6,471.41 +0.34%
FTSE 250 15,594.12 +0.35%
UK markets opened slightly higher on Wednesday morning after five straight days of declines, though the upside was only limited ahead of a number of risk events over the coming days.
The FTSE 100 was trading 0.3% higher at 6,471 in early trade.
Labour-market data from the States will likely be closely watched this week in the aftermath of the Federal Reserve's decision last week to continue tapering its quantitative easing programme.
The ADP employment report is due out later this afternoon, while the more closely watched non-farm payrolls figure will be in focus on Friday.
"A stronger figure could support further stimulus cuts whilst a worse than forecast figure will show a weakening economy and therefore fuel further uncertainty into the markets," said Financial Sales Trader Lee Mumford from Spreadex.
Meanwhile, tomorrow will see monetary policy decisions from both the Bank of England and the European Central Bank, with the latter likely to garner the most attention given last week's unexpected dip in inflation.
Hargreaves Lansdown drops despite record first half
Fund manager and brokerage firm Hargreaves Lansdown underwhelmed with a record first-half report this morning as shares sank sharply early on.
The stock, which hit a record high last month, has outperformed the benchmark FTSE 100 over the past year and has nearly doubled its price since the start of 2013.
Mining stocks were broadly lower this morning with Fresnillo, BHP Billiton, Anglo American and Antofagasta among the worst performers.
In contrast, financial stocks were trading higher with RSA Insurance, Standard Chartered and Lloyds making decent gains. RSA was leading the risers after announcing late last night that it has appointed former RBS frontman Stephen Hester as its new Chief Executive Officer with immediate effect.
Interdealer broker ICAP edged higher despite reporting a 6% drop in third-quarter revenue due to a challenging market.
Home emergency insurer HomeServe was also higher after saying it expects full-year adjusted profits to be in line with market expectations.
A handful of stocks were trading lower after going ex-dividend, including Victrex, Unilever and Stagecoach |
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| | FTSE 100 - Risers
RSA Insurance Group (RSA) 104.10p +5.15%
ARM Holdings (ARM) 903.00p +3.20%
Associated British Foods (ABF) 2,836.00p +2.68%
Schroders (SDR) 2,476.00p +2.10%
BAE Systems (BA.) 423.90p +1.95%
British Sky Broadcasting Group (BSY) 891.00p +1.60%
Shire Plc (SHP) 3,060.00p +1.46%
ITV (ITV) 197.70p +1.33%
Lloyds Banking Group (LLOY) 82.05p +1.23%
Admiral Group (ADM) 1,424.00p +1.14%
FTSE 100 - Fallers
Hargreaves Lansdown (HL.) 1,407.00p -6.01%
Fresnillo (FRES) 761.00p -1.49%
Anglo American (AAL) 1,419.50p -1.18%
CRH (CRH) 1,555.00p -0.89%
Antofagasta (ANTO) 854.00p -0.76%
Unilever (ULVR) 2,312.00p -0.69%
Bunzl (BNZL) 1,360.00p -0.66%
BHP Billiton (BLT) 1,754.50p -0.65%
Smiths Group (SMIN) 1,388.00p -0.57%
Tate & Lyle (TATE) 768.50p -0.52%
FTSE 250 - Risers
Ashmore Group (ASHM) 329.90p +3.87%
Balfour Beatty (BBY) 294.10p +3.59%
Hiscox Ltd (HSX) 645.00p +3.28%
Kenmare Resources (KMR) 16.65p +2.90%
Provident Financial (PFG) 1,674.00p +2.83%
Homeserve (HSV) 314.90p +2.57%
Intermediate Capital Group (ICP) 425.40p +2.31%
Wetherspoon (J.D.) (JDW) 787.50p +2.14%
BH Global Ltd. USD Shares (BHGU) 11.74 +2.00%
Renishaw (RSW) 1,915.00p +1.97%
FTSE 250 - Fallers
Victrex plc (VCT) 1,863.00p -4.31%
Riverstone Energy Limited (RSE) 880.50p -3.77%
Lancashire Holdings Limited (LRE) 736.00p -1.74%
Polymetal International (POLY) 576.50p -1.28%
Vedanta Resources (VED) 791.00p -1.19%
Countrywide (CWD) 552.00p -1.16%
Temple Bar Inv Trust (TMPL) 1,201.00p -1.15%
Alliance Trust (ATST) 431.10p -1.12%
Catlin Group Ltd. (CGL) 518.50p -1.05%
Aberforth Smaller Companies Trust (ASL) 1,077.00p -1.01% |
| | UK Event Calendar | | INTERIMS
Hargreaves Lansdown
INTERIM DIVIDEND PAYMENT DATE
Ashtead Group, Halma, Vodafone Group
INTERIM EX-DIVIDEND DATE
City of London Investment Group, Cohort, CPL Resources, Daejan Holdings, Fusionex International, Latchways, Livermore Investments Group Ltd., Mattioli Woods, Stagecoach Group, Tricorn Group
QUARTERLY EX-DIVIDEND DATE
JPMorgan Claverhouse Inv Trust, Unilever
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Crude Oil Inventories (US) (15:30)
ISM Non-Manufacturing (US) (15:00)
ISM Services (US) (15:00)
MBA Mortgage Applications (US) (12:00)
PMI Composite (EU) (09:00)
PMI Composite (GER) (08:55)
PMI Services (EU) (09:00)
PMI Services (GER) (08:55)
Retail Sales (EU) (10:00)
Speech President Fed of Philaldelphia
Speech Altanta Fed President
Policy rate announcement Poland
ADP Employment report (US) (13:15)
Q3
Canaccord Genuity Group Inc.
Q4
GlaxoSmithKline, Wolfson Microelectronics
GMS
Sinclair (William) Holdings
FINALS
GlaxoSmithKline, New Europe Property Investments, Wolfson Microelectronics
IMSS
Daily Mail and General Trust A (Non.V), ICAP, Quintain Estates & Development
SPECIAL DIVIDEND PAYMENT DATE
Scottish Inv Trust
AGMS
Grainger, Imperial Tobacco Group
TRADING ANNOUNCEMENTS
Eurasian Natural Resources Corporation, S & U
UK ECONOMIC ANNOUNCEMENTS
BRC Shop Price Index (00:01)
Official Reserves (09:30)
PMI Composite (09:30)
PMI Services (09:30)
FINAL DIVIDEND PAYMENT DATE
JPMorgan Asian Inv Trust, Scottish Inv Trust
FINAL EX-DIVIDEND DATE
Andor Technology, Gooch & Housego, Starwood European Real Estate Finance Ltd, Victrex
Q1
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| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks mixed before services data - Eurozone, UK and US services PMI out
- ECB policy decision looms
- Investors eye US jobs report
FTSE 100: 0.27%
DAX: -0.10%
CAC 40: 0.03%
FTSE MIB: 0.31%
IBEX 35: 0.32%
Stoxx 600: 0.35%
European stocks were mixed ahead of the release of reports on Eurozone, UK and US services activity.
The purchasing managers’ index for the services industry in Eurozone is expected to come in at 51.9 in January, in line with the prior month and above the 50 level that signals expansion.
The data comes a day ahead of the European Central Bank’s latest policy decision. The ECB has come under mounting pressure to take greater measures to tackle falling inflation and a stagnant recovery. However, economists do not see the central bank changing its policy at its meeting tomorrow.
Swatch, Hargreaves
Swatch Group rallied after reporting full-year profit that beat analysts’ forecasts.
Hargreaves Lansdown slumped despite reporting record revenue and profit in its first half.
Alfa Laval gained after posting fourth-quarter order intake that exceeded estimates.
The euro held at $1.3519.
Brent crude futures rose $0.226 to $106.020 per barrel, according to the ICE. |
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| | US Market Report | | US close: Bargain hunting pushes stocks higher after sell-off - Factory orders fell less than expected
- Markets recover after worst loss since June 2013
- Microsoft names Nadella as new CEO
- Michael Kors, Yum Brands jump after results
Dow Jones: 0.47%
Nasdaq: 0.87%
S&P 500: 0.76%
Upbeat corporate earnings and a bout of bargain hunting helped US markets put in decent gains on Tuesday as stocks recovered from their worst sell-off in eight months the previous session.
Economic data also came in ahead of expectations with factory orders declining less than expected in December.
"Factory orders fell by 1.5% in December; however, given that upside catalysts for the bulls are few and far between right now, this was taken as a positive as it beat expectations for a decline of 1.9%," said Brenda Kelly, Chief Market Strategist at IG.
Both the S&P 500 and Dow Jones Industrial Average registered their worst declines since June 2013 on Monday with the Dow reporting its seventh triple-digit loss of the year so far.
This came after the Institute for Supply Management’s index measuring activity within the manufacturing sector plunged to an eight-month low in January from 56.5 in December.
There were also renewed worries about the debt ceiling after Treasury Secretary Jacob Lew warned that the federal debt limit could be breached by the end of the month.
Meanwhile, nerves were also beginning to show ahead of some key economic data later in the week, including the ADP employment report on Wednesday and the all-important non-farm payrolls number on Friday.
Microsoft names new CEO
Shares in software giant Microsoft advanced after the company ended months of uncertainty by naming Satya Nadella as its new Chief Executive. He will succeed Steve Ballmer, who first announced plans to retire back in August.
The company also said that Chairman and co-founder Bill Gates would be taking on a new role as Technology Advisor and will be replaced by John Thompson, Lead Independent Director.
Luxury fashion accessories group Michael Kors jumped after same-store sales in its third quarter surged 28%, pushing profits 77% higher. The company also raised its full-year guidance for earnings and revenues.
Taco Bell and KFC owner Yum Brands was also a high riser after beating forecasts with its fourth-quarter earnings.
JC Penney plunged after just a 2% rise in same-store sales for its fourth quarter. While this was the first time quarterly same-store sales have grown at the retailer in two and a half years, analysts were expecting growth of 4.1%.
The share price of Furiex Pharmaceuticals more than doubled after two clinical trials met FDA standards.
Take-Two Interactive Software, maker of the Grand Theft Auto V video game, declined as it projected profit would not exceed 10 cents a share this quarter, missing the average analyst prediction of 13 cents.
S&P 500 - Risers
Yum! Brands Inc. (YUM) $72.06 +8.92%
Fossil Group Inc (FOSL) $114.57 +6.06%
Cabot Oil & Gas Corp. (COG) $41.61 +5.45%
Adt Corp (ADT) $30.20 +4.75%
ONEOK Inc. (OKE) $60.67 +4.75%
Salesforce.Com Inc. (CRM) $60.96 +4.26%
Fidelity National Information Services Inc. (FIS) $50.95 +4.26%
Eog Resources Inc. (EOG) $168.58 +4.23%
Pioneer Natural Resources Co. (PXD) $171.91 +4.06%
Gilead Sciences Inc. (GILD) $82.02 +4.05%
S&P 500 - Fallers
Dun & Bradstreet Corp. (DNB) $95.58 -10.22%
Sears Holdings Corp. (SHLD) $33.99 -3.52%
CareFusion Corp. (CFN) $38.64 -2.91%
MeadWestvaco Corp. (MWV) $34.19 -2.62%
Eaton Corporation plc (ETN) $68.65 -2.31%
Northrop Grumman Corp. (NOC) $110.80 -2.16%
Seagate Technology Plc (STX) $49.99 -2.15%
Medtronic Inc. (MDT) $53.60 -2.03%
Dominion Resources Inc. (D) $65.85 -1.89%
Coach Inc. (COH) $45.63 -1.87%
Dow Jones I.A - Risers
Merck & Co. Inc. (MRK) $53.51 +2.75%
Pfizer Inc. (PFE) $31.44 +2.75%
E.I. du Pont de Nemours and Co. (DD) $61.61 +2.70%
3M Co. (MMM) $126.72 +2.28%
AT&T Inc. (T) $32.45 +1.56%
Walt Disney Co. (DIS) $71.05 +1.51%
American Express Co. (AXP) $84.00 +1.38%
Goldman Sachs Group Inc. (GS) $161.76 +1.21%
JP Morgan Chase & Co. (JPM) $54.95 +1.18%
Cisco Systems Inc. (CSCO) $21.80 +1.16%
Dow Jones I.A - Fallers
United Technologies Corp. (UTX) $109.10 -0.96%
Boeing Co. (BA) $122.04 -0.84%
Intel Corp. (INTC) $23.82 -0.54%
Nike Inc. (NKE) $70.51 -0.52%
Microsoft Corp. (MSFT) $36.35 -0.36%
Unitedhealth Group Inc. (UNH) $70.51 -0.33%
Chevron Corp. (CVX) $110.83 -0.28%
Johnson & Johnson (JNJ) $86.62 -0.18%
Home Depot Inc. (HD) $74.97 -0.16%
International Business Machines Corp. (IBM) $172.84 -0.03%
Nasdaq 100 - Risers
Gilead Sciences Inc. (GILD) $82.02 +4.05%
Dish Network Corp. (DISH) $56.58 +3.63%
Baidu Inc. (BIDU) $155.82 +3.52%
TripAdvisor Inc. (TRIP) $76.37 +3.33%
Fastenal Co. (FAST) $43.91 +2.83%
Adobe Systems Inc. (ADBE) $59.72 +2.81%
Green Mountain Coffee Roasters Inc. (GMCR) $80.14 +2.76%
Equinix Inc. (EQIX) $183.99 +2.71%
O'Reilly Automotive Inc. (ORLY) $134.49 +2.66%
Biogen Idec Inc. (BIIB) $308.18 +2.59%
Nasdaq 100 - Fallers
Seagate Technology Plc (STX) $49.99 -2.15%
Symantec Corp. (SYMC) $20.42 -1.61%
Texas Instruments Inc (TXN) $40.89 -1.47%
Maxim Integrated Products Inc. (MXIM) $29.48 -1.27%
QUALCOMM Inc. (QCOM) $72.51 -1.10%
Express Scripts Holding Co (ESRX) $73.37 -1.05%
Activision Blizzard Inc. (ATVI) $16.90 -0.94%
Sirius XM Holdings Inc (SIRI) $3.52 -0.85%
Amgen Inc. (AMGN) $115.78 -0.83%
Vodafone Group Plc ADS (VOD) $35.66 -0.81% |
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| | Wednesday newspaper round-up | | Punch Taverns, TalkTalk, FCA Punch Taverns, Britain’s second biggest pubs group, will warn its lenders on Wednesday that failure to pass a controversial debt restructuring deal could lead to at least five years of “mess” and “uncertainty”. The company, which has 4,000 pubs in the UK, has been wrestling with its lenders and shareholders over the last 14 months over how to restructure its complex 2.3bn pounds debt pile, built up during an acquisition spree last decade. - The Daily Telegraph
TalkTalk is set to overtake BT for TV customers after doing a deal to show Sky Sports on a pay-per-day basis. The telecoms group has seen its TV base balloon on the back of the YouView box, which offers pay-per-view films and the ability to catch up on programmes. Some 175,000 signed up to take TV from TalkTalk in the last three months, taking its total customer base to 732,000. - Daily Mail
Mark Carney’s forward guidance policy is at best “regrettable” and Threadneedle Street needs to move on, a former deputy governor of the Bank of England has warned. In a scathing attack on the Governor’s policy to keep interest rates at the record low of 0.5% until unemployment falls to at least 7%, Rupert Pennant-Rea said that it was the wrong measure to choose as an interest-rate trigger and should be “quietly dropped”. - The Times
Regulators are investigating allegations that several London-based benchmarks used to price financial products could have been rigged, according to Martin Wheatley, the Chief Executive of Financial Conduct Authority. Giving evidence to the Treasury Select Committee, Mr Wheatley revealed the City watchdog was looking at claims other major benchmark rates could have been rigged. - The Daily Telegraph
George Osborne has warned that Britain's housing shortage is likely to persist for at least 10 more years. The chancellor insisted the coalition's controversial planning shakeup was having a positive effect, and played down fears of a property bubble. But he admitted more needed to be done to overcome the "historic" imbalance between supply and demand. Osborne's comments came as he gave evidence to the Lords economic affairs committee. He gave an optimistic assessment of the UK's prospects, saying the fledgling recovery was "sustainable". - The Guardian
Argos and Homebase have demanded a 2% rebate from suppliers in the latest example of Britain's leading retailers squeezing their supply chain. The two retailers, which are owned by Home Retail Group, have sent almost identical letters to suppliers demanding a 2% turnover rebate for orders placed on and from March 1st. - The Daily Telegraph
Skyscanner is on track to become the world’s biggest travel search engine after doubling its revenue and profits and announcing it is hiring a further 100 people. The Edinburgh-based company expects to top the league of search sites within 18 months after a year of rapid growth and acquisitions. - Scotsman | | |
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