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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 gain after Crimea vote, housebuilders rise - Crimea votes overwhelmingly to rejoin Russia
- FTSE 100 bounces after three per cent fall last week
- Housing stocks gain on Help to Buy extension
- Vodafone to buy Ono for 7.2bn euros
techMARK 2,784.02 +0.68%
FTSE 100 6,552.67 +0.38%
FTSE 250 16,257.31 +0.82%
UK equities were making decent gains on Monday morning despite rising tensions between Moscow and the West after the Crimea region voted to once again become part of the Russian Federation.
The FTSE 100 was trading 0.4% higher at 6,553 early on, bouncing after a near-3% fall last week on the back of concerns over the Ukraine crisis and a slowdown in China.
Housing-related stocks were providing a lift on London's stock market after UK Chancellor George Osborne announced that he is extending the Help to Buy mortgage guarantee scheme by a further four years.
The scheme, which has already given housebuilding activity a significant boost since its inception in 2013, will run for a further four years to 2020.
Crimea
As expected, an overwhelming majority of Crimeans voted in a referendum on Sunday to rejoin Russia, even while the US and Europe promised not to recognise the outcome.
Approximately 96% of the population of Crimea voted to separate from the Ukraine and join Russia with only about 3.5% having chosen to remain part of the country with more autonomy. No option was given to remain a part of the Ukraine with the constitution unaltered.
The US already officially declared the referendum to be illegal and President Barack Obama promised that the vote would never be recognised by the US or the international community.
"At least for now it would seem the market has already discounted much of present risks, having sent stock indices to their monthly lows last week. Yet as with all ongoing geopolitical concerns, volatility is unlikely to die down completely," said Trader David White from Spreadex.
Housebuilders rise, Vodafone gains after Ono takeover
Housebuilding groups including Persimmon, Bovis Homes, Taylor Wimpey, Barratt Developments and Bellway were all performing well this morning after the Help to Buy extension announcement.
Building materials and equipment firms such as Ashtead, CRH and Premier Farnell were also on the rise.
Vodafone rose in early trading after agreeing to buy Grupo Corporativo Ono, Spain's largest next-generation network, for €7.2bn. The deal is said to complement Vodafone Spain's network and will expand the company's reach in the European market.
Supermarket giant Tesco was in the red after Bank of America Merrill Lynch cut its rating on the shares from 'neutral' to 'underperform'.
Publisher and information services group Reed Elsevier was also lower after Berenberg lowered to stock to 'hold'. |
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| FTSE 100 - Risers
Persimmon (PSN) 1,391.00p +5.94%
Ashtead Group (AHT) 917.50p +1.94%
Kingfisher (KGF) 409.20p +1.87%
RSA Insurance Group (RSA) 94.80p +1.72%
Glencore Xstrata (GLEN) 301.85p +1.63%
Whitbread (WTB) 4,302.00p +1.61%
Anglo American (AAL) 1,444.00p +1.48%
GKN (GKN) 378.90p +1.47%
Babcock International Group (BAB) 1,399.00p +1.45%
Hargreaves Lansdown (HL.) 1,312.00p +1.39%
FTSE 100 - Fallers
Tesco (TSCO) 298.30p -1.78%
Diageo (DGE) 1,801.50p -1.07%
Reed Elsevier (REL) 905.50p -0.82%
Sainsbury (J) (SBRY) 311.30p -0.73%
Morrison (Wm) Supermarkets (MRW) 206.60p -0.67%
Unilever (ULVR) 2,356.00p -0.63%
British American Tobacco (BATS) 3,206.50p -0.54%
Associated British Foods (ABF) 2,821.00p -0.53%
SSE (SSE) 1,416.00p -0.49%
Tate & Lyle (TATE) 632.00p -0.47%
FTSE 250 - Risers
Bovis Homes Group (BVS) 903.50p +5.67%
Taylor Wimpey (TW.) 121.40p +4.84%
Bellway (BWY) 1,610.00p +4.21%
Kenmare Resources (KMR) 14.16p +4.12%
Barratt Developments (BDEV) 428.80p +4.03%
Halfords Group (HFD) 472.50p +3.19%
Berkeley Group Holdings (The) (BKG) 2,725.00p +3.14%
Inmarsat (ISAT) 695.50p +3.11%
Crest Nicholson Holdings (CRST) 375.80p +2.90%
Inns (ETI) 152.90p +2.48%
FTSE 250 - Fallers
Jardine Lloyd Thompson Group (JLT) 1,045.00p -1.97%
Xaar (XAR) 944.00p -1.62%
Serco Group (SRP) 430.20p -1.44%
Kazakhmys (KAZ) 260.20p -1.44%
Bwin.party Digital Entertainment (BPTY) 123.60p -1.44%
Cairn Energy (CNE) 194.40p -1.27%
Hellermanntyton Group (HTY) 320.50p -1.23%
KCOM Group (KCOM) 96.80p -1.07%
Essar Energy (ESSR) 66.00p -0.83% |
| | UK Event Calendar | | Monday March 17
INTERIMS
Regenersis, Tracsis
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Capacity Utilisation (US) (15:15)
Consumer Price Index (EU) (10:00)
Harmonised Index of Consumer Prices (EU) (10:00)
Industrial Production (US) (15:15)
NY Fed Manufacturing Index (US) (12:30)
Net long-term TIC flows (US) (09:00)
GMS
Interserve, Macquarie Korea Infrastructure Fund GDRS
FINALS
Brady, Forbidden Technologies, Global Ports Investments GDR (REG S), Hydrogen Group, Smart Metering Systems, Thalassa Holdings Ltd. (DI)
ANNUAL REPORT
AZ Electronic Materials SA (DI)
EGMS
OJSC Megafon GDR (Reg S), Societatea Nationala De Gaze Naturale Romgaz S.A. GDR (Reg S)
AGMS
Nyota Minerals Ltd.
UK ECONOMIC ANNOUNCEMENTS
Rightmove house prices (00:01)
|
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| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks edge higher ahead of Eurozone inflation data - Revised Eurozone CPI to be released
- US industrial and manufacturing expected out
- Crimea votes to join Russia
FTSE 100: 0.37%
DAX: 0.72%
CAC 40: 0.62%
FTSE MIB: 1.10%
IBEX 35: 1.31%
Stoxx 600: 0.72%
European stocks gained as investors awaited Eurozone and US economic data and weighed the implications of a referendum in Crimea.
Revised Eurozone inflation figures are expected to confirm consumer prices rose by 0.8% in February, well below the European Central Bank's (ECB) target of just below 2%.
The ECB has come under mounting pressure to enact policies to tackle falling inflation, with some analysts saying they fear the Eurozone is headed towards Japanese-style stagnation.
In the US, a report on manufacturing in the New York area is expected to show activity expanded in March. The Federal Reserve Bank of New York's general economic index may rise to 7.00 from 4.48 in February, according to forecasts.
Another report on US manufacturing is projected to reveal output increased 0.3% month-on-month in February following a 0.8% drop a month earlier.
US industrial production may have gained 0.2% in February after falling 0.3% in January, economists predict.
The US data comes as lawmakers weigh the health of the US economy ahead of tomorrow's two-day Federal Reserve policy meeting. The Fed is widely expected to announce a further scaling back of monthly asset purchases.
Crimea votes to join Russia
More than 96% of Crimeans voted to break away from Ukraine and rejoin Russia, according to preliminary results.
The US and European Union (EU) have condemned the referendum as illegal and said it would not be internationally recognised.
Russian President Vladimir Putin said the vote fully complied with international norms.
EU foreign ministers will meet at 9:30 in Brussels today to consider imposing travel bans and asset freezes on some Russian officials.
Russia has deployed about 60,000 troops along the Ukrainian border, the government in Kiev said. Ukraine has closed border crossings to Russia and will defend its nation with 15,000 volunteers in the next two weeks.
RWE, Societe Generale
RWE gained after L1 Energy agreed to buy the utility's Dea business for €5.1bn.
Societe Generale rallied after agreeing to sell its Asian private bank to DBS Group Holdings Ltd.
Vodafone was higher after saying it will buy Grupo Corporativo Ono, Spain's largest next-generation network, for €7.2bn.
The euro fell 0.17% to $1.3890.
Brent crude futures dipped $0.698 to $107.460 per barrel, according to the ICE. |
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| | US Market Report | | US close: Stocks swing into the red on Ukraine fears - Ukraine fears hit stocks despite decent start
- Kerry, Lavrov talks fail to ease tensions
- Analysts cut forecasts for China
- Liberty Media drops Sirius XM bid
Dow Jones: -0.27%
Nasdaq: -0.35%
S&P 500: -0.28%
US stocks finished with small losses on Friday with benchmark indices ending the week with their biggest declines since January as investors scaled back risk appetite ahead of a referendum in Crimea this weekend.
The S&P 500 finished 0.3% lower at 1,841.13, falling 2% on the week, while the Dow Jones Industrial Average fell 0.3% to close at 16,065.67, ending the week down 2.4%.
"Anyone hoping for a Friday bounce in stock markets has been sorely disappointed, but investors can hardly be blamed for not wanting to hold positions into the weekend," said Chris Beauchamp, Market Analyst at IG.
Stocks had edged higher after the opening bell but swung quickly into the red after the University of Michigan's preliminary reading on consumer confidence slipped to 79.9 in March, down from 81.6 in the month before and under the consensus forecast of 82.
In other economic news, producer prices fell by 0.1% for the first time in three months in February after a rise of 0.2% in the month before. Market forecasts were for a 0.2% increase.
Concerns over an economic slowdown in China were also dampening sentiment on global markets today as analysts from JPMorgan, Bank of America, UBS and Nomura moved to lower their growth forecasts for this year. The downgrades came after data yesterday showed that industrial production, retail sales and fixed asset investments growth all eased last month.
Ukraine
Geopolitical tensions in Ukraine escalated on Friday on the back of reports that Moscow was stepping up its military presence on the country's borders ahead of the Crimea referendum on Sunday that could see the region vote to become part of the Russian Federation.
However, the US and Europe have warned Russia that "very serious" steps would be taken, including sanctions, if it attempts to annex Crimea given that the move would be unconstitutional.
Meanwhile, a six-hour meeting between Secretary of State John Kerry and his Russian counterpart Sergei Lavrov in London failed to ease concerns.
Lavrov was reported as saying that Russian President Vladimir Putin "is not prepared to make any decision regarding Ukraine until after the referendum on Sunday". He also told a news conference that there is "no common vision" on resolving the crisis.
Liberty Media drops Sirius XM bid
Liberty Media surged after dropping plans to acquire the rest of satellite radio business Sirius XM it does not already own. The company, which already owns 53% of Sirius XM, also announced plans to split its holding company into two tracking stocks.
Luxury handbag maker Coach Inc was making decent gains amid unconfirmed market chatter that the group could be susceptible to a takeover offer at around $57-59 a share, compared with last night's closing price of around $48.
Retail firm Aeropostale fell sharply after reporting a worse-than-expected loss and a 16% fall in sales in the fourth quarter.
Packaged-foods group General Mills finished lower after missing forecasts with its third-quarter guidance.
S&P 500 - Risers
GameStop Corp. (GME) $38.98 +5.01%
Allegheny Technologies Inc. (ATI) $34.26 +3.16%
Newmont Mining Corp. (NEM) $26.18 +2.75%
Southwestern Energy Co. (SWN) $44.07 +2.56%
Tyson Foods Inc. (TSN) $41.48 +2.50%
Goodyear Tire & Rubber Co. (GT) $27.28 +2.13%
Boston Scientific Corp. (BSX) $13.01 +2.12%
Murphy Oil Corp. (MUR) $60.26 +2.10%
Juniper Networks Inc. (JNPR) $25.62 +2.03%
Gap Inc. (GPS) $42.08 +1.96%
S&P 500 - Fallers
Celgene Corp. (CELG) $149.41 -4.24%
Gilead Sciences Inc. (GILD) $75.05 -3.79%
Sears Holdings Corp. (SHLD) $44.01 -3.40%
Priceline.Com Inc. (PCLN) $1,267.93 -2.45%
General Mills Inc. (GIS) $49.77 -2.43%
Bank of America Corp. (BAC) $16.80 -2.10%
Expeditors International Of Washington Inc. (EXPD) $38.98 -2.06%
Cabot Oil & Gas Corp. (COG) $33.96 -2.02%
Aetna Inc. (AET) $71.51 -1.92%
CH Robinson Worldwide Inc (CHRW) $51.14 -1.80%
Dow Jones I.A - Risers
Boeing Co. (BA) $123.11 +1.00%
Home Depot Inc. (HD) $79.38 +0.74%
Coca-Cola Co. (KO) $38.17 +0.53%
AT&T Inc. (T) $32.49 +0.43%
Pfizer Inc. (PFE) $31.23 +0.35%
McDonald's Corp. (MCD) $97.58 +0.22%
Walt Disney Co. (DIS) $80.07 +0.18%
Verizon Communications Inc. (VZ) $46.08 +0.11%
E.I. du Pont de Nemours and Co. (DD) $65.77 +0.09%
Travelers Company Inc. (TRV) $82.66 +0.08%
Dow Jones I.A - Fallers
Unitedhealth Group Inc. (UNH) $75.70 -1.70%
JP Morgan Chase & Co. (JPM) $56.80 -1.08%
International Business Machines Corp. (IBM) $182.21 -0.92%
General Electric Co. (GE) $25.11 -0.91%
Wal-Mart Stores Inc. (WMT) $74.28 -0.87%
Goldman Sachs Group Inc. (GS) $165.35 -0.81%
Cisco Systems Inc. (CSCO) $21.35 -0.79%
3M Co. (MMM) $129.83 -0.75%
American Express Co. (AXP) $90.17 -0.57%
Microsoft Corp. (MSFT) $37.70 -0.50%
Nasdaq 100 - Risers
Liberty Media Corporation - Class A (LMCA) $135.25 +7.22%
Keurig Green Mountain Inc (GMCR) $113.25 +6.68%
Illumina Inc. (ILMN) $164.72 +3.47%
Vimpelcom Ltd Ads (VIP) $8.76 +2.58%
Sirius XM Holdings Inc (SIRI) $3.44 +2.08%
Dish Network Corp. (DISH) $61.58 +1.45%
Check Point Software Technologies Ltd. (CHKP) $67.32 +1.40%
Mylan Inc. (MYL) $52.63 +1.17%
Charter Communications Inc. (CHTR) $127.00 +1.02%
Yahoo! Inc. (YHOO) $37.60 +0.99%
Nasdaq 100 - Fallers
Celgene Corp. (CELG) $149.41 -4.24%
Gilead Sciences Inc. (GILD) $75.05 -3.79%
Baidu Inc. (BIDU) $160.59 -3.32%
Tesla Motors Inc (TSLA) $230.97 -2.87%
Priceline.Com Inc. (PCLN) $1,267.93 -2.45%
Expeditors International Of Washington Inc. (EXPD) $38.98 -2.06%
CH Robinson Worldwide Inc (CHRW) $51.14 -1.80%
Facebook Inc. (FB) $67.72 -1.61%
NetApp Inc. (NTAP) $36.57 -1.59% |
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| | Newspaper Round Up | | Monday newspaper round-up: Stamp duty, Sainsbury, Alibaba Despite the Chancellor's announcement that he will provide another 6bn pounds in loans to help people acquire newly built homes, some are warnings that other measures are hurting "aspirational Britain". Since stamp duty is not indexed to inflation many people purchasing homes are having to pay far more as a result. The Treasury, however, will benefit with revenues from stamp duty set to rise to 15bn pounds in five years' time from 9bn pounds now. A part of those increased revenues are the result of more housing transactions, but another part can be attributed to that lack of indexation, writes The Times.
Fund managers in the City are unanimous in the view that Sainsbury will emerge as the winner from the latest battle amongst the country's supermarkets. That was the opinion of 200 fund managers in exclusive survey carried out for The Telegraph. The firm is expected to be the strongest performer this year and its boss Justin King was crowned as the most effective chief executive.
With over $150bn of goods being traded on its platforms each year, more than Amazon.com and eBay combined, China's Alibaba is one of the world's largest internet companies. The firm which began as a service linking Chinese suppliers to retailers overseas later branched out into retail e-commerce. It has now filed for an IPO Stateside in a transaction that may raise up to $15bn, according to analysts, and potentially valuing it at more than $100bn. No details regarding the timing or size of the sale were forthcoming, The Guardian says.
The preliminary results from this weekend's referendum showed over 95% of Crimea's population wants to re-join Russia. However, in a telephone conversation over the weekend US President Obama told Russia's President Vladimir Putin that the vote will not be recognised, as it took place "under duress of Russian military intervention". Both the European Union and the US have condemned it as illegal, The Wall Street Journal Europe reports.
At next month's Cannes event broadcaster ITV will launch about a dozen new formats which the company hopes will be the next generator of blockbuster sales. That comes as part of the dramatic turnaround of ITV Studios which has been central to the revival of the company's fortunes. Sales at the unit have grown by 50% over the past four years to £857m, making it the largest commercial TV producer in the UK and a player in the American market, according to The Times.
Motoring and breakdown group the AA has received a number of uninvited approaches from potential buyers including Cenkos Securities. A spokesman for the group said: "We can confirm we have received a number of unsolicited proposals since the successful securitisation of the AA including one from Cenkos. While we take all such proposals seriously, no decision to sell the AA has been taken." AA is owned by Acromas Holdings, which also owns over-50s tour operator and insurer Saga, The Daily Express reports. | | |
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