Evening Euro Markets Bulletin

ADVFN III Evening Euro Markets Bulletin Daily world financial news Wednesday, 30 April 2014 17:38:46 Monitor Quote Charts News CFD's Spreadbetting Free BB   Sponsored by: Accendo SAGA IPO - Record breaking floatation Download your SAGA IPO report now. Click Here Losses can exceed deposits. London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London close: FTSE extends gains ahead of FOMC statement - FTSE ends 10.12 points higher at 6,780.03 - US GDP misses expectations - Focus very much of FOMC meeting statement techMARK 2,780.50 -0.39% FTSE 100 6,780.03 +0.15% FTSE 250 15,817.20 -0.50% UK indices ended today's session slightly higher following a raft of corporate announcements, mixed data from abroad as well as a number of stocks going ex-dividend. The FTSE 100 closed 10.12 points higher at 6,780.03. Gains were notably limited by nervousness ahead of this evening's policy decision by the US Federal Reserve, which has prompted many to scale back risk. The Federal Open Market Committee began its two-day policy meeting yesterday and is widely expected to continue tapering its asset purchase programme by $10bn each meeting. This will bring the monthly stock of bond buying down from $55bn to $45bn. This afternoon's focus was already on the US, as investors digested the latest gross domestic product (GDP) reading, which came in significantly below expectations. GDP expanded at a 0.1% annualised clip during the first three months of the year according to the Commerce Department. The consensus estimate had been for a rise of 1.1%. It followed an expansion of 2.6% in the last quarter of 2013 and 1.9% over all of last year. Meanwhile, the MNI Chicago purchasing managers' index (PMI) for April printed at 63 points, accelerating sharply from last month's level of 55.9, compared to an expected reading of 57. Eurozone inflation picks up but misses consensus Eurozone inflation rose less than expected in April, according to the flash estimate published by Eurostat today. The annual rate of consumer price inflation rose to 0.7% this month after prices rose by 0.5% in March. However, this compared to the consensus estimate for a 0.8% rise. Nevertheless, some economists had said that the figure could miss forecasts after data on Tuesday showed that German inflation was lower than expected. Back in the UK, it was estimated by the Office for National Statistics that around 1.4m people were employed on zero-hour contracts in January and February. That compared to the figure of 583,000 - equal to 2% of the UK workforce - estimated for the period between October and December last year. The statistics also showed that those on zero-hour contracts, which do not guarantee a minimum number of working hours, were also employed in at least one other job. Busy day for corporate earnings Housebuilder Barratt Developments clawed back yesterday's losses, claiming its place in the top spot after Deutsche Bank named it as one of its top picks. Oil major Royal Dutch Shell rose strongly as first-quarter underlying earnings fell by 3% but beat expectations. Bottom-line earnings, however, were hit by £2.9bn of impairments in its Downstream division. Meanwhile, insurance group Admiral fell after going ex-dividend, along with a number of others including Tesco, Weir and Reed Elsevier. The strength of sterling had a big impact on results at GlaxoSmithKline (GSK) in the first quarter, while sales fell short of analysts' expectations due to weakness in the US market, prompting shares to slide. Core turnover during the first three months of the year dropped by 10% on a reported basis to £5.61bn, with sales dampened by a stronger pound against the dollar, euro, yen and a range of emerging market currencies. On the second tier, shares in Heritage Oil surged today after the company announced that it had received a takeover offer from Energy Investments Global, part of Qatar's Al Mirqab Capital. The company also reported its full-year results which unveiled that profits doubled in 2013 on the back of record production from its flagship OML 30 lock in Nigeria. Ladbrokes also climbed after saying it would maintain its dividend payment, despite posting a decline in its first-quarter operating profit. The confirmantion underlines the bookmaker's belief it will return to growth in the second half of the year. Strong performances in Asia and its casino business drove total quarterly revenues higher at Playtech in the first three months of 2014, lifting shares higher. The online gaming software supplier said a group revenue increase of 17.4% from €87.5m to €102.7m was largely thanks to a quarterly Casino revenue rose 25.6% from €44.1m to €55.4m. Meanwhile, technology group CSR shares fell sharply after its first-quarter revenue fell 24% to $180.8m. Home Retail failed to impress despite reporting a return to annual sales and profit growth thanks to like-for-like improvements at both Argos and Homebase. However, including exceptional items, statutory pre-tax profits fell 41.1% mainly due to restructuring charges at Argos and a payment protection insurance provision.   iPad mini worth £269 for new trading accounts! A minimum volume is required. Terms and conditions apply. Find out more, click here. FTSE 100 - Risers Barratt Developments (BDEV) 369.50p +5.18% Royal Dutch Shell 'B' (RDSB) 2,520.00p +3.66% Shire Plc (SHP) 3,378.00p +3.52% WPP (WPP) 1,274.00p +3.07% Royal Dutch Shell 'A' (RDSA) 2,347.00p +2.94% Capita (CPI) 1,085.00p +2.84% Rolls-Royce Holdings (RR.) 1,050.00p +2.84% Anglo American (AAL) 1,582.00p +2.56% William Hill (WMH) 354.70p +2.16% Smiths Group (SMIN) 1,335.00p +1.91% FTSE 100 - Fallers Tesco (TSCO) 292.95p -3.41% Admiral Group (ADM) 1,398.00p -3.05% British American Tobacco (BATS) 3,417.00p -2.01% GlaxoSmithKline (GSK) 1,632.00p -2.01% ARM Holdings (ARM) 891.50p -1.93% Imperial Tobacco Group (IMT) 2,557.00p -1.84% Standard Chartered (STAN) 1,281.50p -1.80% Hammerson (HMSO) 570.50p -1.64% easyJet (EZJ) 1,637.00p -1.56% Centrica (CNA) 330.00p -1.49% FTSE 250 - Risers Heritage Oil (HOIL) 315.20p +23.32% Aveva Group (AVV) 2,108.00p +7.83% Ladbrokes (LAD) 153.30p +6.90% Ophir Energy (OPHR) 263.60p +4.94% Playtech (PTEC) 667.00p +4.46% Soco International (SIA) 432.10p +3.25% Bellway (BWY) 1,439.00p +2.86% Afren (AFR) 157.50p +2.74% Henderson Group (HGG) 250.80p +2.70% Taylor Wimpey (TW.) 105.10p +2.44% FTSE 250 - Fallers CSR (CSR) 574.50p -10.44% Hansteen Holdings (HSTN) 102.90p -4.72% IP Group (IPO) 172.00p -4.44% Spirent Communications (SPT) 95.15p -4.18% Oxford Instruments (OXIG) 1,289.00p -4.16% Hunting (HTG) 846.50p -3.97% SIG (SHI) 191.50p -3.82% Polymetal International (POLY) 566.00p -3.74% Fisher (James) & Sons (FSJ) 1,291.00p -3.73% Xaar (XAR) 789.00p -3.72% PROVEN 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.  Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe close: ECB has left work to do, economists say - ECB has work left to do economists say - Eurozone inflation figures come in below forecasts - Traders in holding pattern ahead of FOMC meeting FTSE-100: 0.15% Dax-30: 0.20% Cac-40: -0.23% FTSE Mibtel 30: -0.88% Ibex 35: -0.02% Stoxx 600: -0.07% Equity markets ended the day in a mixed fashion ahead of this evening's Federal Reserve policy meeting. Focusing investors' attention was the release of the latest Eurozone consumer prices figures. Eurozone consumer prices rose by 0.7% year-on-year in April, a tenth of a percentage point less than had been forecast by consensus. Capital Economics highlighted the very low readings on core goods prices, excluding energy. In their opinion that merits action on the part of the ECB. "Accordingly, we still believe that the ECB has more work to do to eradicate the risk of a damaging bout of deflation in the Eurozone," the think-tank said. Also of interest, the results of the latest ECB bank lending survey showed a broad increase in demand for loans albeit while the actual flow of lending remained depressed. Hence, Barclays Research reiterated its call that the ECB will pursue "targeted" measures to help get credit flowing. Those may include a longer-term refinancing operation targeted towards encouraging bank lending to small-and-medium-sized enterprises (SMEs) or an asset backed securities (ABS) purchase programme, supported by the necessary regulatory changes aimed at revitalising high-quality securitisation in Europe. Acting as a backdrop, Ukraine's acting President warned that the spread of unrest must be prevented. In parallel, the International Monetary Fund (IMF) slashed its forecast for Russia's economic growth this year to just 0.2% from 1.3% beforehand, adding that the country should prepare for a further contraction. Retail stocks lead losses From a sector standpoint, and within the DJ Stoxx 600, the largest losses were being seen in the following industry groups: Real estate (-0.91%) and Utilities (-0.82%). France's Alstom is reviewing a binding offer from US industrial conglomerate General Electric for its energy business, but it has left the door open for a competing bid from Germany's Siemens. The shares shot 12% higher after a trading halt was lifted. BNP Paribas may be facing a fine in the US well in excess of $1.1bn, the lender warned. Spain's BBVA posted a 64% drop in first quarter net profits to €624m, largely due to the sale of assets one year ago, making for more challenging comparisons. German car-maker Daimler unveiled first quarter operating profits that doubled. Euro edges higher The euro/dollar was 0.41% higher at 1.3870. Front-month Brent crude futures were off by 1.029% to the $107.88/barrel mark on the ICE. Take advantage of a booming US state... Get $27,500 return in 2 years with a secure exit and no stress. An opportunity to invest securely into the increasing infrastructure of North Dakota Register your details here to receive the FREE brochure US Market Report US open: Stocks fall on lacklustre US GDP as investors await Fed - FOMC policy decision in focus - ADP payrolls beat forecast - US GDP expands just 0.1 per cent in Q1 - Twitter, eBay provide a drag Dow Jones: -0.04% Nasdaq: -0.74% S&P 500: -0.24% US stocks opened slightly lower on Wednesday on the back of mixed economic data as investors scaled back risk ahead of the Federal Reserve policy decision later on. The Federal Open Market Committee began its two-day policy meeting on Tuesday and is widely expected to continue tapering its asset purchase programme by $10bn each meeting. This will bring the monthly stock of bond buying down from $55bn to $45bn. The Dow Jones Industrial Average was trading 0.04% down early on, the S&P 500 lost 0.24%, while the Nasdaq dropped 0.74%. Markets were reacting to figures released before the opening bell that showed that while private-sector jobs grew at their fastest pace in five months, US economic growth was at its weakest in three years. Private-sector payrolls as measured by ADP increased by 220,000 last month, up from 209,000 in March and ahead of the 200,000 gain expected by analysts. However, gross domestic product expanded at an annual rate of just 0.1% in the first quarter, a sharp slowdown from the 2.6% growth registered in the fourth quarter of 2013 and well below the 1% expansion expected by analysts. "Since the equity market is hardly in freefall as a result of the number, investors might take solace from the crowd that the consequences of the event aren't yet biting. But the session is far from over yet, and traders will likely be more vigilant of taking on risk today than most others, waiting to see how flows direct prices," said Trader David White from Spreadex. Twitter shares tumble as user growth slows Twitter's share price sunk as much as 12% after the social media messaging service disappointed investors with subdued user number growth in the first quarter. Despite beating analysts' forecasts, the company reported that membership rose at an annual rate of 25% to 255m in the first three months of the year, a slowdown from the 30% growth seen in the previous period. E-commerce group eBay also beat analysts' estimates but saw shares sink after disappointing with its outlook. The company forecast a smaller-than-expected profit for the second quarter and reported a $3bn tax charge to repatriate foreign earnings. Nuclear plant operator Exelon fell after announcing that it will acquire Pepco, the utility group, for $27.25 a share, equal to $5.4bn. Shares in the latter surged after the bell. Pharmacy group Express Scripts dropped as it slashed its 2014 forecasts and released lower-than-expected adjusted profits for the first quarter. West Texas Intermediate futures were 1.54% lower at $99.72 a barrel on the NYMEX. The yield on a 10-year US Treasury was down two basis points at 2.67%. UKs booming asset class... Get 10% fixed returns for 10 years and see why the care home investment market is about to boom. Our unique opportunity in The Calder Valley is one not to be missed Register your details here to receive your FREE brochure Broker Tips Broker tips: Next, Tullow, British American Tobacco... Shares in Next are up with events, according to Investec, despite a better-than-expected first-quarter update and raised guidance from the high street retail group on Wednesday. "We view Next as a core holding, but with the shares trading on a sector average price-to-earnings rating, we believe the valuation is up with events and retain our 'hold' recommendation." Prime Wealth Group has labelled Tullow Oil as a 'buy', saying that Wednesday's production update and asset sales mark a 'turning point' for the shares. "Tullow Oil shares have effectively been falling steadily since mid 2012 highs around 1,500p, as unsuccessful drilling campaigns and other hitches put an end to a long bull run for the explorer. Today however, most of the uncertainty has been removed by the sale of the Schooner and Ketch gas fields, enabling the group to redouble focus on its Kenya successes, and put the group on a strong financial footing." Panmure Gordon has upgraded British American Tobacco (BAT) from 'hold' to 'buy', saying it sees an improving performance in the second half from the company. The broker has hiked its target for the stock from 3,225p to 3,850p. "During the second half, currency headwinds are likely to ease in and pricing should accelerate contributing good underlying earnings growth." Analysts predict BSkyB's new broadband customer numbers will fall around 50% in the third quarter, as the company's battle with BT takes a continuing toll. The media group is due to report its results for the three months to the end of March on Thursday. Analysts at Deutsche Bank and Morgan Stanley (MS) respectively forecast broadband additions of 80,000 and 70,000, down from 152,000 in the same quarter last year and compared to 110,000-119,000 in the last three quarters. Credit Suisse has reiterated its 'overweight' position on the big-cap pharmaceuticals sector, saying that 25% of M&A deals in the year to date have been from the sector. "From a macro perspective, drugs have the best combination of low leverage (thus outperform if the US cost of debt rises), dollar earners (we are dollar bulls) and low global emerging market (GEM) exposure (22%) within defensives - and unlike staples GEM exposure trades on a discount to developed markets."   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

ADVFN Newsdesk - Mixed Data May Render Mood Cautious Ahead of Fed Decision

ADVFN  World Daily Markets Bulletin Daily world financial news Wednesday, 30 April 2014 10:20:08    Monitor Quote Charts News Toplists Forex Boards   Sponsored by: VectorVest Beat the market – Guaranteed! Discover trading plans that beat the market year after year and tell you exactly when to buy, what to buy and when to sell. Click Here US Market Shanghai Hang Seng NIKKEI ASX The major U.S. index futures are pointing to a mixed opening on Wednesday, with sentiment likely to remain guarded ahead of The Fed decision. Among the duo of economic reports released earlier in the day, first quarter GDP growth disappointed to the downside, while the private sector job growth exceeded expectations. With earnings also coming in mixed, traders may remain on the sidelines until The Fed announcement and decide their moves depending on the decision. U.S. stocks advanced moderately on Tuesday, with positive earnings providing support to the markets. After opening higher, The Dow Industrials and the S&P 500 Index moved roughly sideways throughout the session before closing higher. Meanwhile, the Nasdaq Composite retreated in morning trading, briefly moving below the unchanged line before recovering and advancing till the afternoon. Thereafter, the index moved sideways before closing up 29.14 points or 0.72 percent at 4,104. The Dow Industrials ended 86.63 points or 0.53 percent higher at 16,535 and the S&P 500 Index closed at 1,878, up 8.90 points or 0.48 percent. Twenty of the thirty Dow components closed higher, with Merck rallying 3.60 percent and leading the gains. Travelers , Disney , JP Morgan Chase , McDonald's and Nike also advanced notably. On the other hand, Coca-Cola , Pfizer and Microsoft moved to the downside. Biotechnology, airline, gold, basic material and financial stocks were among the best performers of the session. On the economic front, the S&P/Case-Shiller house price index rose a seasonally adjusted 0.76 percent month-over-month in February. Annually, prices were up an unadjusted 12.8 percent, with all 20 cities seeing price gains. The Conference Board reported that its consumer confidence index fell to 82.3 in April from 83.9 in March, with the weakness stemming a less favorable assessment of current conditions. The present situation index slipped to 78.3 from 82.5, while the expectations index edged up 0.1 points to 84.9. The Dow Industrials traded up to a resistance around 16,572 yesterday, although it closed shy of that level. If the FOMC statement and earnings are supportive of the rally, the index could reattempt to break above the level. Further upward, the index has resistance around 16,635. On the downside, the index has support around 16,503, 16,440, its 21-day MA (currently at 16,394), its 50-day MA (currently at 16,318) and its 100-day MA (currently at 16,207). No platform or data fees with no trade minimums Trade free for 60 days + get up to $600 cash. Join TD Ameritrade US Economic Reports CADUSD Oil Gold Allbanc Please click on the images to view our interactive charts Private sector employment in the U.S. continued to show significant growth in the month of April, according to a report released by payroll processor ADP, with the pace of job growth exceeding economist estimates. ADP said private sector employment surged up by 220,000 jobs in April following an upwardly revised jump of 209,000 jobs in March. Economists had expected an increase of about 210,000 jobs compared to the addition of 191,000 jobs originally reported for the previous month. Reflecting the impact of the severe winter weather, The Commerce Department released a report on Wednesday showing only a modest uptick in U.S. economic activity in the first three months of 2014. The Commerce Department said gross domestic product inched up by just 0.1 percent in the first quarter of 2014 compared to the 2.6 percent increase in GDP in the fourth quarter of 2013. While economists had anticipated a notable slowdown in the pace of GDP growth, they still expected an increase of about 1.2 percent. A Labor Department report showed that the employment cost index rose 0.3 percent sequentially in the first quarter compared to 0.5 percent growth expected by economists. The Treasury is due to make announcements concerning auctions of 3-year and 10-year notes and 30-year bonds at 8:30 am ET. MNI Indicators is scheduled to release the results of its manufacturing survey for the Chicago region at 9:45 am ET. Economists expect the business barometer for the region to have risen 1 point to 56.9. The Chicago business barometer declined 3.9 points to 55.9 in March. Economists had expected a more modest decrease by the index. The Energy Information Administration will release its petroleum status report for the week ended April 25th at 10:30 am ET. Crude Oil stockpiles rose by 3.5 million barrels to 397.7 million barrels in the week ended April 18th. Inventories remained well above the average range for this time of the year. Distillate stockpiles increased by 0.6 million barrels but were below the lower limit of the average range. Meanwhile, Gasoline inventories slipped by 0.3 million barrels and were in the lower limit of the average range. Refinery capacity utilization averaged 88.8 percent over the four weeks ended April 18th compared to 87.5 percent over the four weeks ended April 11th. At 2 pm ET, the FOMC will release its monetary policy statement following the conclusion of its two-day meeting. Economists widely expect The Fed to leave interest rates unchanged at 0-0.25 percent and announce another $10 billion taper to its bond purchase program. Retired Talk Show Host Reveals Shocking Secret "Almost anyone can collect income checks from the government," he says. "And it's all tax-free." Read More Stocks in Focus FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts General Electric announced that it has offered to acquire the thermal, renewable and grid businesses of Alstom for an enterprise value of $13.5 billion. If successful in the purchase, the company expects the deal to be immediately accretive to its earnings by 8-10 cents per share. Alstom stated that it has positively received GE's offer and has appointed an independent committee to review the transaction by June 2nd. eBay reported better than expected first quarter results. While the company's full year guidance was largely in line, its second quarter guidance was weak. DreamWorks Animation reported a loss for its first quarter, while its revenues exceeded estimates. Seagate Technology reported better than expected earnings, while its revenues were slightly shy of estimates. Twitter reported better than expected first quarter results, but the company issued lukewarm 2014 revenue guidance. Marriott International reported first quarter earnings that were ahead of estimates, but its revenues were below estimates. The company's 2014 earnings guidance was in line. Boston Properties (BXP) reported first quarter funds from operation that missed estimates, while its revenues were in line. The company raised its full year funds from operations guidance. United Steel's (X) first quarter results exceeded estimates. Genworth Financial's first quarter net operating income exceeded estimates, while its revenues were shy of estimates. Insurer ACE and Hanover Insurance reported forecast-beating earnings for the first quarter. Lam Research announced that its board approved a $1 billion capital return program, including the initiation of its first ever quarterly dividend and an $850 million stock buyback authorization. SM Energy reported first quarter adjusted net income that was ahead of estimates, and its revenues also exceeded estimates. Panera Bread reported first quarter results that beat estimates, but its second quarter and full year guidance trailed expectations. Manpower (MAN) announced a 7 percent increase in its dividend. Boyd Gaming , CB Richard Ellis (CBG), Charles River , Emulex , Fidelity Financial , Flextronics , Jack Henry , JDS Uniphase , Lincoln National , MetLife (MET), Murphy Oil (MUR), QuickLogic , Tesoro , WebMD Health , Western Digital , Williams Companies and Williams Partners are among the companies due to release their quarterly results after the close of trading. No platform or data fees with no trade minimums Trade free for 60 days + get up to $600 cash. Join TD Ameritrade European Market European stocks opened lower but have been witnessing volatility since then. The major averages in the region are currently mixed, as they await the FOMC decision and digest some domestic corporate news. In corporate news, French bank BNP Paribas reported better than expected first quarter results, although it hinted at higher legal costs. Air France-KLM reported a narrower loss for its first quarter. Daimler reported better than expected first quarter results, and aluminum maker Norsk Hydro reported higher profits for its first quarter. Meanwhile, Shell (RDS) reported lower first quarter profits, hurt by charges. French peer Total also reported a 10 percent drop in earnings. On the economic front, a report released by the German Federal Labor Agency showed that the number of unemployed people in Germany fell by 25,000 in April compared to expectations for a 10,000 drop. The jobless rate remained unchanged at 6.7 percent, in line with estimates. Meanwhile, the German Federal Statistical Office reported that the jobless rate for Germany calculated based on ILO standards came in at 5.1 percent for March. French statistical office INSEE reported that French producer prices fell more than expected in March, both annually and on a month-over-month basis. Asian Markets USDCAD USDEUR USDGBP USDJPY Please click on the images to view our interactive charts The major Asian markets closed mixed, with the Hong Kong, South Korean and Taiwanese markets retreating, while most other major markets in the region advanced. The positive close on Wall Street served to lift the mood even as cautious sentiment prevailed ahead of the FOMC announcement. The Japanese market saw some strength early on in the session, as traders expected the Bank of Japan to announce further easing measures. However with the central bank maintaining a status quo position, the Nikkei 225 average pared most of its gains but still closed up 15.88 points or 0.11 percent at 14,304. Australia's All Ordinaries showed volatility throughout the session before closing up 3.90 points or 0.07 percent at 5,471. Material and energy stocks advanced, helping to offset weakness in the financial and consumer staple spaces. While China's Shanghai Composite ended up 6.02 points or 0.30 percent at 2,026, Hong Kong's Hang Seng Index closed at 22,134, down 319.92 points or 1.42 percent. On the economic front, the Bank of Japan left its monetary policy unchanged, with the board voting unanimously to continue to increase its monetary base at an annual rate of 60 trillion yen to 70 trillion yen. The Bank of Japan maintained its forecast of hitting its 2 percent inflation target in fiscal 2016 without adding more stimulus. A report released by Japan's Ministry of Economics, Trade and Industry showed that industrial production rose 0.3 percent month-over-month in March, slower than the 0.5 percent increase expected by economists. Meanwhile, a separate government report showed that housing starts in Japan fell more than expected in March. The gun debate reveals game-changing technology And provides proof that we could be at the exact tipping point to deliver monster-sized gains. Read more... Currency and Commodities Markets Crude Oil futures are sliding $1.06 to $100.20 a barrel after rising $0.44 to $101.28 a barrel on Tuesday. An ounce of Gold is currently fetching $1,293.80, down $2.50 from the previous session's close of $1,296.30. On Tuesday, Gold fell $2.70. Among currencies, the U.S. dollar is trading at 102.26 yen compared to the 102.64 yen it fetched at the close of New York trading on Tuesday. Against the euro, the dollar is valued at $1.3865 compared to yesterday's $1.3812.     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

Morning Euro Markets Bulletin

ADVFN  Morning Euro Markets Bulletin Daily world financial news Wednesday, 30 April 2014 09:42:33 Monitor Quote Charts News CFD's Spreadbetting Free BB   Sponsored by: Accendo SAGA IPO - Record breaking floatation Download your SAGA IPO report now. Click Here Losses can exceed deposits. London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London open: Stocks pause at eight-week high ahead of FOMC - Stocks pause at highest since March 6th - FOMC meeting, economic data in focus today - Heritage Oil receives takeover offer - Shell, Tullow and Next rise after updates techMARK 2,781.52 -0.35% FTSE 100 6,774.00 +0.06% FTSE 250 15,872.51 -0.15% UK stocks opened broadly flat on Wednesday morning after reaching an eight-week high the previous session, as investors adopted a cautious approach amid a raft of corporate earnings. Markets were also looking ahead to a busy day on the macro front with a host of economic data scheduled and the Federal Reserve's policy decision due out this evening. The FTSE 100 was trading 0.1% higher at 6,774 in early trading after closing at 6,769.91 on Tuesday afternoon, its highest finish since March 6th. "Ahead of the Federal Open Market Committee (FOMC) meeting it appears that risk on sentiment will alternate with risk off mood possible keeping the prices in check," said analysts at Capital Spreads this morning. The FOMC begun the two-day policy meeting yesterday and is widely expected to continue tapering its asset purchase programme by $10bn each meeting. This will bring the monthly stock of bond buying down from $55bn to $45bn. Inflation figures from the Eurozone will be in focus this morning, while mortgage application and the ADP employment report will be closely watched in the States this afternoon, as well as a reading of US economic growth for the first quarter. Heritage Oil jumps after takeover offer Heritage Oil shares surged this morning after Energy Investments Global offer 320p a share to take over the company, some 25% above yesterday's closing price. The offer values the company at £924m. Heritage also announced today that profits more than doubled in 2013. Oil major Royal Dutch Shell rose strongly despite saying that first-quarter underlying earnings fell by 3%, which exclude £2.9bn of impairments in its Downstream division. Sector peer Tullow also gained after saying it is on track to meet its 2014 production guidance following a good performance since the start of the year. High street retail giant Next rose after lifting its guidance for sales and profits this year after a strong performance in the first quarter. The company also announced that it would pay a special dividend and raise the limit of its share buyback. Rolls-Royce, the power systems group, was also higher after confirming media speculation that it is in talks with German engineer Siemens about the possible sale of its energy gas turbine and compressor division. Heading the other way was insurer Standard Life after underwhelming with a 1.5% rise in assets under administration in the first quarter. Sector peer Admiral fell after going ex-dividend, along with others including ITV, Croda, Cobham, G4S, Ferrexpo, Tesco, Reed Elsevier, Travis Perkins and Weir. iPad mini worth £269 for new trading accounts! A minimum volume is required. Terms and conditions apply. Find out more, click here. FTSE 100 - Risers Royal Dutch Shell 'B' (RDSB) 2,534.00p +4.24% Royal Dutch Shell 'A' (RDSA) 2,366.50p +3.79% Capita (CPI) 1,081.00p +2.46% Rolls-Royce Holdings (RR.) 1,042.00p +2.06% BG Group (BG.) 1,201.50p +1.78% Shire Plc (SHP) 3,318.00p +1.69% Antofagasta (ANTO) 790.50p +1.22% WPP (WPP) 1,251.00p +1.21% Tullow Oil (TLW) 875.00p +1.10% Next (NXT) 6,555.00p +1.08% FTSE 100 - Fallers Tesco (TSCO) 292.65p -3.51% Reed Elsevier (REL) 853.50p -3.34% Admiral Group (ADM) 1,395.00p -3.26% Standard Life (SL.) 374.00p -3.11% ITV (ITV) 178.70p -2.72% Weir Group (WEIR) 2,655.00p -2.71% William Hill (WMH) 338.50p -2.51% G4S (GFS) 232.40p -1.90% Hargreaves Lansdown (HL.) 1,168.00p -1.60% easyJet (EZJ) 1,639.00p -1.44% FTSE 250 - Risers Heritage Oil (HOIL) 312.80p +22.38% Aveva Group (AVV) 2,049.00p +4.81% Ophir Energy (OPHR) 261.00p +3.90% Afren (AFR) 158.80p +3.59% International Personal Finance (IPF) 573.50p +2.50% Soco International (SIA) 428.00p +2.27% Cairn Energy (CNE) 183.90p +2.05% Henderson Group (HGG) 249.20p +2.05% Jardine Lloyd Thompson Group (JLT) 1,073.00p +1.80% Redrow (RDW) 290.00p +1.75% FTSE 250 - Fallers CSR (CSR) 609.50p -4.99% Elementis (ELM) 276.60p -3.15% UBM (UBM) 654.00p -2.75% Cobham (COB) 302.10p -2.39% Ladbrokes (LAD) 140.10p -2.30% SIG (SHI) 194.70p -2.21% AL Noor Hospitals Group (ANH) 989.50p -2.13% Informa (INF) 480.00p -2.10% National Express Group (NEX) 281.10p -2.06% UK Event Calendar Wednesday April 30th INTERIMS Avon Rubber, Superglass Holdings INTERIM DIVIDEND PAYMENT DATE Abbey INTERIM EX-DIVIDEND DATE Wetherspoon (J.D.) QUARTERLY PAYMENT DATE JP Morgan Chase & Co, Middlefield Canadian Income PCC, Schroder Income Growth Fund QUARTERLY EX-DIVIDEND DATE City of London Inv Trust, JPMorgan Claverhouse Inv Trust INTERNATIONAL ECONOMIC ANNOUNCEMENTS Chicago PMI (US) (14:45) Crude Oil Inventories (US) (15:30) FOMC Interest Rate (US) (19:00) GDP (Advance) (US) (13:30) International Reserves (EU) (11:00) MBA Mortgage (US) (12:00) Retail Sales (GER) (07:00) Unemployment Rate (GER) (08:55) FINALS GLOBO, Home Retail Group, Macromac , Microsaic Systems, Proxama , Solo Oil ANNUAL REPORT Oxford Biomedica, Plaza Centers NV IMSS Barclays, British American Tobacco, Greggs, International Personal Finance, Kazakhmys, Ladbrokes, Next, Standard Life, SVG Capital, Tullow Oil, Ultra Electronics Holdings, Unite Group DRILLING REPORT Antofagasta SPECIAL EX-DIVIDEND PAYMENT DATE Admiral Group, Elementis, Foxtons Group , Fresnillo, ITV EGMS Bilfinger Berger Global Infrastructure Sicav S.A.(DI), Hellenic Telecom Industries SA ADS AGMS Aberdeen UK Tracker Trust, Asian Total Return Investment Company, Aviva, AZ Electronic Materials SA (DI), Bilfinger Berger Global Infrastructure Sicav S.A.(DI), BlackRock Latin American Inv Trust, British American Tobacco, Countrywide, Devro, EMIS Group, Fidessa Group, GLI Finance Limited, Good Energy Group, Hellermanntyton Group, Holders Technology, International Personal Finance, Juridica Investments Ltd., Komercni Banka A.S.GDR (Level 1), Lancashire Holdings Limited, Maven Income & Growth 3 VCT, Nichols, Pendragon, Phoenix Group Holdings (DI), RIT Capital Partners, SEGRO, Synectics, Tullow Oil, Ultra Electronics Holdings, Witan Inv Trust TRADING ANNOUNCEMENTS Greene King, Smith (DS), Standard Life UK ECONOMIC ANNOUNCEMENTS Consumer Confidence (09:30) GFK Consumer Confidence (00:05) FINAL DIVIDEND PAYMENT DATE Chrysalis VCT, Lavendon Group, Manchester & London Investment Trust, Tamar European Industrial Fund Ltd., Wynnstay Group FINAL EX-DIVIDEND DATE Admiral Group, Advanced Medical Solutions Group, Aer Lingus Group, African Barrick Gold , Cenkos Securities, Cobham, Croda International, Dialight, Dunedin Enterprise Investment Trust, Elementis, F&C Private Equity Trust, Ferrexpo, Foxtons Group , G4S, Henry Boot, Highcroft Investment, Highland Gold Mining Ltd., Holders Technology, Hunting, Hydrogen Group, Informa, ITV, Morgan Sindall Group, National Express Group, Neptune-Calculus Income & Growth VCT, Polymetal International, Porvair, Powerflute Oyj (DI), Quixant, Reed Elsevier, Regus, Senior, SIG, Spirax-Sarco Engineering, SThree, Tesco, Total Produce, Travis Perkins, UBM, Weir Group, William Hill Q1 CSR, GlaxoSmithKline, Hrvatske Telekom D.D GDR (Reg S), Norsk Hydro ASA, Royal Dutch Shell 'A', Royal Dutch Shell 'B' INTERIM DIVIDEND PAYMENT DATE Digital Globe Services Ltd (DI), ISG, NWF Group, Smith (DS), Wolseley QUARTERLY PAYMENT DATE Mercantile Investment Trust (The), Torchmark Corp., Verizon Communications INTERNATIONAL ECONOMIC ANNOUNCEMENTS Auto Sales (US) (15:00) Bloomberg Consumer Confidence (US) (14:45) Construction Spending (US) (15:00) Continuing Claims (US) (13:30) Initial Jobless Claims (US) (13:30) ISM Manufacturing (US) (15:00) ISM Prices Paid (US) (15:00) Personal Consumption Expenditures (US) (13:30) Personal Income (US) (13:30) Personal Spending (US) (13:30) Q3 British Sky Broadcasting Group PROVEN 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.  Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe open: Shares start the day slightly lower ahead of FOMC - Alstom shares rocket 12 per cent after trade resumes - Eurozone inflation figures lie ahead - Traders in holding patter ahead of FOMC meeting FTSE-100: -0.05% Dax-30: -0.12% Cac-40: -0.33% FTSE Mibtel 30: -0.38% Ibex 35: -0.22% Stoxx 600: -0.15% Equity markets have started the day lower, ahead of a bank holiday tomorrow on the Continent that will see many markets remain closed for trading and this evening's Federal Reserve policy meeting. It was reported on Wednesday morning that Spain's consumer price index (CPI) rose by 0.4% month-on-month in April, as expected. That comes ahead of the release of the latest Eurozone inflation figures for April which are due out at 10:00. Weak German CPI readings on Tuesday led some economists, such as at Barclays Research to lower their forecast for today's number to 0.7% year-on-year from the 0.8% rise which they had previously been expecting. Banks and automobiles lead falls From a sector standpoint, and within the DJ Stoxx 600, the largest losses were being seen in the following industry groups: Retail (-0.93%), Banks (-0.74%) and Automobiles&Parts (-0.73%). France's Alstom is reviewing a binding offer from US industrial conglomerate General Electric for its energy business, but it has left the door open for a competing bid from Germany's Siemens. The shares shot 12% higher after a trading halt was lifted. BNP Paribas may be facing a fine in the US well in excess of $1.1bn, the lender warned. Spain's BBVA has posted a 64% drop in first quarter net profits to €624m, largely due to the sale of assets one year ago, making for more challenging comparisons. German car-maker Daimler unveiled first quarter operating profits that doubled. Euro edges higher The euro/dollar was little changed at 1.3810. Front-month Brent crude futures were off by 0.47% to the $108.47/barrel mark on the ICE. Take advantage of a booming US state... Get $27,500 return in 2 years with a secure exit and no stress. An opportunity to invest securely into the increasing infrastructure of North Dakota Register your details here to receive the FREE brochure US Market Report US close: Stocks end higher after multiple strong earnings - Strong earnings and easing tension in Ukraine lift stocks - Twitter falls after posting Q1 loss - FOMC in focus as two-day meeting begins Dow Jones: Nasdaq: S&P 500: It was a positive finish to Tuesday's session, driven by strong earnings and reports of easing tensions in Eastern Europe. The Dow Jones jumped 86.63 points, or 0.53%, while the Nasdaq climbed 29.14 points, equal to a gain of 0.72%. The S&P 500 delivered a slightly more modest 8.90 point climb, up 0.48%. Both financial and tech stocks rose strongly, although Twitter was a notable faller, having posted a first-quarter loss of $132.36m, significantly wider than the $27.03m loss posted for the said period a year earlier. In post-market trading, the stock dropped to its lowest level since it was floated. The focus of the session was nonetheless very much on the Federal Open Market Committee (FOMC) meeting, the statement for which is due to be released tomorrow. The FOMC begun the two-day policy meeting and is widely expected to continue tapering its asset purchase programme by $10bn each meeting. This will bring the monthly stock of bond buying down from $55bn to $45bn. Analysts at Rabobank said it was a case of "steady as she goes" at the central bank "given the Fed's tapering inertia and the apparent confirmation by recent data that the extreme winter weather was indeed responsible for much of the weakness in earlier data". This week's focus is also very much on the release of the latest GDP reading as well as Friday's all important jobs report. Also helping sentiment higher was an easing of the situation in Ukraine, which helped reassure investors that Russia will not cut off its gas supply. According to CMC Markets's Jasper Lawler, "separatists have gained control of more government buildings in Eastern Ukraine opening the way to further potential reaction from the Ukrainian military, but for now markets have focused elsewhere as both Ukrainian and Russian forces pulled back from the region". However, reports indicated that officials from NATO had cast doubt on the news of a Russian pull-back from Ukraine's borders, saying they had seen no sign of it. In US economic news today, the Conference Board's US consumer confidence index declined to 82.3 in April, missing the 83.2 consensus forecast. Nevertheless, the prior month's figure was revised higher to 83.9, the index's highest reading since 2008. Meanwhile, the S&P/Case-Shiller composite home price index, which measures house values in the 20 main metropolitan areas, rose at an annual rate of 12.9% in February, down from the 13.2% pace of growth seen in the previous month but broadly in line with analysts' estimates, if marginally disappointing. Merck & Co. leads Dow Jones higher Merck rose strongly after its earnings per share came in nine cents above expectations at 88 cents. Telecoms group Sprint also impressed after narrowing losses in the first quarter to just four cents per share, from 21 cents the year before. Revenues edged higher from $8.8bn to $8.88bn, in line with estimates. Fuel refiner Valero trounced analysts' forecasts for the first three months of the year, reporting earnings of $1.54 per share in comparison to estimates for $1.39. Meanwhile, EBay posted a loss, despite reporting a rise in earnings. Shares fell on the back of an unimpressive outlook. In other markets, crude oil futures for June were 0.44% higher at $101.28 a barrel on the NYMEX. S&P 500 - Risers Regeneron Pharmaceuticals Inc. (REGN) $299.58 +6.51% Ameriprise Financial Inc. (AMP) $109.55 +5.84% Yahoo! Inc. (YHOO) $35.83 +5.41% Wynn Resorts Ltd. (WYNN) $203.61 +5.15% Vertex Pharmaceuticals Inc. (VRTX) $67.57 +4.74% CONSOL Energy Inc. (CNX) $43.93 +4.72% TripAdvisor Inc. (TRIP) $80.83 +4.59% Lorillard Inc. (LO) $57.51 +4.09% Cummins Inc. (CMI) $150.81 +3.86% Alexion Pharmaceuticals Inc. (ALXN) $157.34 +3.76% S&P 500 - Fallers Coach Inc. (COH) $45.71 -9.34% Waters Corp. (WAT) $99.03 -8.51% Jacobs Engineering Group Inc. (JEC) $57.07 -8.25% Goodyear Tire & Rubber Co. (GT) $25.11 -7.72% Rockwell Automation Inc. (ROK) $115.63 -7.15% Boston Scientific Corp. (BSX) $12.73 -6.26% PACCAR Inc. (PCAR) $63.50 -3.51% Eaton Corporation plc (ETN) $72.15 -3.15% Archer-Daniels-Midland Co. (ADM) $43.23 -2.59% Masco Corp. (MAS) $20.23 -2.32% Dow Jones I.A - Risers Merck & Co. Inc. (MRK) $58.72 +3.60% Travelers Company Inc. (TRV) $90.90 +1.41% McDonald's Corp. (MCD) $101.50 +1.19% Nike Inc. (NKE) $72.48 +1.13% Walt Disney Co. (DIS) $78.64 +1.11% JP Morgan Chase & Co. (JPM) $56.10 +1.10% Goldman Sachs Group Inc. (GS) $158.24 +1.09% Boeing Co. (BA) $128.37 +1.05% International Business Machines Corp. (IBM) $195.11 +1.02% Caterpillar Inc. (CAT) $105.30 +1.00% Dow Jones I.A - Fallers Coca-Cola Co. (KO) $40.57 -1.12% Microsoft Corp. (MSFT) $40.51 -0.88% Pfizer Inc. (PFE) $31.76 -0.87% Home Depot Inc. (HD) $79.52 -0.81% Unitedhealth Group Inc. (UNH) $75.20 -0.71% Procter & Gamble Co. (PG) $82.44 -0.60% Johnson & Johnson (JNJ) $101.03 -0.31% United Technologies Corp. (UTX) $117.56 -0.12% Wal-Mart Stores Inc. (WMT) $79.67 -0.11% General Electric Co. (GE) $26.76 -0.07% Nasdaq 100 - Risers Regeneron Pharmaceuticals Inc. (REGN) $299.58 +6.51% Yahoo! Inc. (YHOO) $35.83 +5.41% Wynn Resorts Ltd. (WYNN) $203.61 +5.15% Vertex Pharmaceuticals Inc. (VRTX) $67.57 +4.74% TripAdvisor Inc. (TRIP) $80.83 +4.59% Tesla Motors Inc (TSLA) $206.92 +4.24% Alexion Pharmaceuticals Inc. (ALXN) $157.34 +3.76% Facebook Inc. (FB) $58.15 +3.58% Equinix Inc. (EQIX) $185.38 +3.07% Expedia Inc. (EXPE) $70.59 +2.95% Nasdaq 100 - Fallers Check Point Software Technologies Ltd. (CHKP) $63.11 -4.19% PACCAR Inc. (PCAR) $63.50 -3.51% Charter Communications Inc. (CHTR) $137.18 -2.05% Intuitive Surgical Inc. (ISRG) $361.59 -1.70% Whole Foods Market Inc. (WFM) $49.13 -1.62% Staples Inc. (SPLS) $12.40 -1.35% Cognizant Technology Solutions Corp. (CTSH) $47.85 -1.22% Mondelez International Inc. (MDLZ) $35.60 -0.93% CH Robinson Worldwide Inc (CHRW) $55.99 -0.89% Microsoft Corp. (MSFT) $40.51 -0.88% UKs booming asset class... Get 10% fixed returns for 10 years and see why the care home investment market is about to boom. Our unique opportunity in The Calder Valley is one not to be missed Register your details here to receive your FREE brochure Newspaper Round Up Wednesday newspaper round-up: AstraZeneca, Housing market, Alstom The head of Pfizer has jetted into London to begin a whistlestop tour of City institutions as the American drugs company scrambles to drum up support for a hostile £58.7bn takeover of AstraZeneca. Ian Read's arrival for a 48-hour tour of fund management firms underlined the urgency of Pfizer's intent to capture Britain's second largest pharmaceuticals company — a deal that, according to analysts, appears increasingly likely to succeed. – The Times One of Britain's largest landowners and developers has warned that it is "concerned" about fast rising values in London's "super-prime" housing market. Grosvenor, the property company headed by Gerald Grosvenor, the 6th duke and Britain's wealthiest landowner, said it sold about £240m of luxury residential assets in London last year and wanted to focus more on the "mid-market" residential sector. - The Times French engineering group Alstom today said it would decide by the end of next month whether to accept a €12.4bn (£10.2bn) offer from General Electric for its energy business, leaving the door open for a rival bid from Germany's Siemens. France's government, which regularly intervenes in corporate decision making, had questioned whether selling Alstom to US conglomerate GE threatens the country's energy independence and jobs. Officials had pressed for more time to allow rival Siemens to make an offer. – Scotsman More than a third of people in the UK feel positive about their future job prospects the highest level for nearly seven years, research has shown. Consumer insight group Nielsen said 36% of people said they felt positive about their employment prospects in the first three months of 2014. It comes a day after official figures showed the UK economy grew by 0.8% in the first quarter and by 3.1% in the year to the end of March – the strongest growth since before the financial crisis. – The Daily Mail Pro-Russia militants in masks broke down doors and stormed government buildings Tuesday in another area of Ukraine that hugs the Russian border, as the new government in Kiev criticized local police for failing to stem the growing unrest. The latest moves in Ukraine's eastern Luhansk region came despite a new wave of sanctions on Russia by the US and European Union aimed at forcing the Kremlin to rein in the activists, who have echoed Russian President Vladimir Putin in denouncing Ukraine's two-month-old government as illegal. They have called for more autonomy for the eastern part of Ukraine. – The Wall Street Journal Europe Britain's biggest banks and lenders will have to show they hold enough capital to withstand a sharp fall in the pound and house prices, as well as a spike in interest rates, under new stress tests unveiled yesterday. The Bank of England's Prudential Regulation Authority said eight banks and building societies will have to undergo the test, with a "strong presumption" that the supervisor will force any lender that fails to meet the threshold to strengthen its capital. – Daily Express   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. 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