| | | | | | | | | |
| | London Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | London close: Stocks rise despite tensions in Ukraine - FTSE closes up 22.06 at 6,583.76
- Tensions in Eastern Europe provide drag
- BP a notable faller
- US retail sales beat expectations
techMARK 2,642.52 -1.03%
FTSE 100 6,583.76 +0.34%
FTSE 250 15,702.42 -1.23%
UK stocks managed to finish in positive territory despite growing tensions in Eastern Europe.
The FTSE 100 closed 22.06 points higher at 6,583.76.
Tensions in Ukraine escalated as pro-Russian radicals ignored a deadline to lay down their arms or face military action.
Over the weekend, Ukrainian President Alexndr Turchnov gave pro-Russian radicals in the east of the country until today to lay down their arms. Following the wounding of a Ukrainian special forces officer and five other soldiers in a gun battle on Sunday, Ukraine said it would launch a large-scale anti-terrorist campaign against protesters who have barricaded themselves in various government buildings in the eastern region of the country.
People in eastern Ukraine are reportedly anxiously waiting to see if President Alexndr Turchnov follows through on his threat to use forces to remove the pro-Russian groups.
Capital Economics said: "The crisis in Ukraine is back in the news again after clashes between security forces and pro-Russian activists in the east of the country. The government in Kiev has threatened "anti-terrorist" operations to reclaim official buildings occupied by protestors demanding greater regional autonomy.
"Russia has demanded that Ukraine does nothing to inflame tensions, although many in the West suspect that Moscow is behind the protests. The US and EU are both considering tightening their sanctions on Russia in response."
Elsewhere in the world, US stocks were lifted by a report that showed retail sales in the world's biggest economy grew more than expected. Retail sales in March climbed 1.1% to $433.9bn following a 0.7% increase a month earlier. Analysts had expected a 0.9% gain.
Meanwhile, comments from European Central Bank President (ECB) Mario Draghi were also in focus, after he said the ECB would ease monetary policy further if the euro keeps strengthening, in order to help achieve medium-term price stability.
"Draghi may be betting that the prospect of money-printing alone will be enough to bring the euro's value down. But with many blaming the strong euro both for holding back exports and the deflationary threat hovering over the Eurozone, there is a long way to go to make Eurozone exports more competitive," said Tony Wilson, Head of Strategy at forex specialists FEXCO.
UK set for low inflation growth but borrowing caution needed
Back in the UK, data revealed the region is set for a long period of low inflation expansion, boosting the economy, but financial watchdogs need to keep an eye on mortgage borrowing.
The British economy should expand by 2.9% this year as a favourable labour market creates "decent but unspectacular" growth, according to the EY Item Club's Spring forecast.
Meanwhile, UK wages have returned to pre-recession levels, data is expected to show this week.
The figures, which are due out on Wednesday, are anticipated to reveal a 1.8% jump for the three months ended February 28th, according to a poll of economists carried out by Reuters.
Asking prices of UK homes reach new record, survey shows
House asking prices in April are 7.3% higher than a year ago across Britain, according to Rightmove.
The average price of homes reached 262,594, marking the fastest annual rate of increase since October 2007. Compared to a month ago, prices were up 2.6%.
Prices are higher in every region across England and Wales than they were a year ago.
Supermarkets lead, airlines fly lower
Sainsbury was a strong riser as it recovered from last week's news that it had lost some of its market share to the likes of discount stores Lidl and Aldi.
Sector peer Tesco was also making decent gains after it was reported the company is planning to launch its F&F range in the US. The news comes ahead of its results out on Wednesday.
Other stocks were helped by a defensive approach from investors as they turned to those stocks typically considered safer bets, including Diageo, British American Tobacco, Imperial Tobacco Group and Reckitt Benckiser Group.
Leading the downside were stocks which have performed well over the past year, including airlines easyJet and IAG, as investors took profits.
BP was also a notable faller, hit by concerns over its exposure to the events in Eastern Europe. BP has a stake in Rosneft, the biggest producer of oil in Russia, which on Monday lost around 1.3% in value. |
| | INVEST IN BRAZIL - 15.5% fixed returns in just one year | | A proven investment in Brazil's 4th biggest metropolis. Only limited availability. For your FREE Brochure, Click Here. |
|
FTSE 100 - Risers
Sainsbury (J) (SBRY) 326.50p +5.46%
Tullow Oil (TLW) 859.00p +3.87%
Randgold Resources Ltd. (RRS) 4,845.00p +3.64%
Tesco (TSCO) 289.35p +2.95%
Fresnillo (FRES) 932.50p +2.64%
Diageo (DGE) 1,917.00p +2.38%
Rio Tinto (RIO) 3,408.00p +2.33%
Reckitt Benckiser Group (RB.) 4,833.00p +2.09%
Antofagasta (ANTO) 842.00p +2.06%
Glencore Xstrata (GLEN) 317.90p +2.02%
FTSE 100 - Fallers
Ashtead Group (AHT) 842.00p -4.32%
Hargreaves Lansdown (HL.) 1,207.00p -3.98%
Sports Direct International (SPD) 740.50p -3.96%
International Consolidated Airlines Group SA (CDI) (IAG) 377.10p -3.83%
Barratt Developments (BDEV) 371.50p -3.83%
easyJet (EZJ) 1,640.00p -3.53%
Whitbread (WTB) 3,890.00p -3.47%
ITV (ITV) 177.40p -3.06%
Persimmon (PSN) 1,279.00p -2.74%
Travis Perkins (TPK) 1,726.00p -2.43%
FTSE 250 - Risers
Evraz (EVR) 85.85p +5.53%
Polymetal International (POLY) 641.00p +4.65%
Genus (GNS) 1,001.00p +4.22%
Lonmin (LMI) 289.50p +3.13%
Heritage Oil (HOIL) 241.10p +2.64%
Phoenix Group Holdings (DI) (PHNX) 660.50p +2.56%
Daejan Holdings (DJAN) 4,820.00p +2.38%
Afren (AFR) 139.30p +2.28%
Jardine Lloyd Thompson Group (JLT) 1,092.00p +2.25%
Workspace Group (WKP) 579.50p +1.67%
FTSE 250 - Fallers
Ocado Group (OCDO) 349.70p -7.24%
AL Noor Hospitals Group (ANH) 984.00p -6.20%
RPS Group (RPS) 293.40p -5.96%
Ted Baker (TED) 1,988.00p -5.33%
Greencore Group (GNC) 242.60p -5.05%
Micro Focus International (MCRO) 794.00p -4.85%
Halfords Group (HFD) 440.70p -4.67%
Kentz Corporation Ltd. (KENZ) 706.00p -4.59%
Thomas Cook Group (TCG) 164.20p -4.53%
BTG (BTG) 496.50p -4.52% |
| | 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: Stocks little changed amid Ukraine turmoil - EU weighs tougher sanctions against Russia
- Eurozone industrial output rises
- US retail sales climb
FTSE 100: 0.34%
DAX: 0.26%
CAC 40: 0.43%
FTSE MIB: 0.55%
IBEX 35: -0.17%
Stoxx 600: 0.31%
Euro-area stocks were little changed as European officials weighed tougher sanctions against Russia over Ukraine.
European Union (EU) foreign ministers today said the bloc should be prepared to impose a third round of sanctions as pro-Russian activists ignored a deadline to abandon the barricades which they have set up in several cities located in the eastern regions of Ukraine or face military action.
Ukraine had given the Russian activists until 06:00 GMT on Monday to retreat before sending forces to remove them from government buildings.
However, those pro-Kremlin groups continued to occupy the area following an exchange of heated words between Russia on one side, and the US and Ukraine on the other, at an emergency meeting of the United Nations Security Council last night.
Eurozone industrial output, US retail sales
Eurozone industrial production rose more than expected in February, up 1.7% year-on-year compared to a 1.6% increase a month earlier. Analysts had pencilled in a 1.5% gain.
"Overall then, the small rise in industrial production in February will not be enough to dispel fears about the fragility of the euro-zone's economic recovery," Capital Economics said. "Growth is still too weak to tackle the region's debt problems or to head off the risk of deflation."
In the US, retail sales in March climbed 1.1% to $433.9bn following a 0.7% increase a month earlier, beating the consensus estimate for a 0.9% rise.
In Italy, investors ordered more than 6.53bn of six-year, inflation-linked bonds or BTP's as they are known. The auction began at 17:10 local time and will run through April 17th. It comes just five months after a record 22.3bn sale of a similar maturity, the Italian stock exchange said on its website.
PSA Peugeot Citroen
PSA Peugeot Citroen edged lower after the carmaker outlined plans to cut its model line-up by almost half and turn the Citroen unit's DS badge into a separate brand.
National Bank of Greece slid on reports the country's biggest lender is planning to increase its share capital by as much as 2.1bn after the national regulator's stress test identified a shortfall.
Kuehne & Nagel International AG declined after the world's biggest sea-freight forwarder reported first-quarter sales that missed estimates.
Rheinmetall AG, an automotive and defence-equipment supplier, slipped as Bild am Sonntag reported that a sale of 800 Leopard 2 Battle tanks to Saudi Arabia will probably be cancelled.
Glencore Xstrata advanced after selling its stake in the Las Bambas copper mine in Peru.
STMicroelectronics NV dropped as UBS recommended selling stocks in the chipmaker.
Symrise AG slumped after offering to buy Diana Group, a French flavours and pet-food additive maker.
Marine Harvest ASA was higher as the salmon farmer reported a better-than-expected first-quarter harvest.
The euro fell 0.50% to $1.3816.
Brent crude futures rose $0.694 to $108.080 per barrel, according to 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 rise as retail sales increase more than forecast US stocks rose as a report showed retail sales in the world's biggest economy grew more than expected.
Retail sales in March climbed 1.1% to $433.9bn following a 0.7% increase a month earlier. Analysts had expected a 0.9% gain.
"The 1.1% month-on-month leap in US retail sales in March (consensus +0.8%) is partly due to households making up for lost time after the unusually bad weather kept them away from the malls in previous months," Capital Economics said.
"Nonetheless, it means that real consumption growth in the first quarter could be a little stronger than the 2% we have been expecting."
Also providing a lift to the market today was better-than-forecast results from Citigroup.
Citigroup shares were rising strongly after the company reported 1% growth in adjusted earnings per share to $1.30 for the first quarter, beating the $1.29 expected by analysts.
"Despite a quarter that was difficult for our company, we delivered strong results. Both our consumer and institutional businesses performed well and we grew both loans and deposits while holding the line on our expenses," said Chief Executive Michael Corbat.
Versus 2013 net credit losses declined by 15% at the US financial heavyweight, while deposits were 3% higher at $966bn.
On a downbeat note, tensions in Ukraine escalated as pro-Russian radicals ignored a deadline to lay down their arms or face military action.
People in eastern Ukraine are reportedly anxiously waiting to see if President Alexndr Turchnov follows through on his threat to use forces to remove the pro-Russian groups.
West Texas Intermediate futures were up $0.547 to $107.920 per barrel on the NYMEX.
The yield on a benchmark 10-year US Treasury was up one basis point at 2.64%. |
| | Losing Interest? | | You could earn more with a Stocks & Shares ISA. Grab a ready-made package or pick your own at The Share Centre.
Capital at risk. Tax benefits of ISAs may change. |
| | Broker Tips | | Broker tips: Glencore Xstrata, Tesco, ARM Holdings... Investec has kept a 'reduce' rating on Glencore Xstrata but said that the 5.85bn-dollar sale price of its Las Bambas copper project in Peru was ahead of its 5.5bn-dollar forecast.
"Until the transaction is finalised, we would expect Glencore Xstrata to be cautious on advancing new significant transactions in order to ensure the company's credit rating remains unchanged and the balance sheet doesn't come under undue pressure, particularly against the background of volatile commodity pricing," said Analyst Marc Elliott.
'Sell' shares of Tesco ahead of the supermarket giant's annual results on Wednesday, according to Shore Capital, which expects a sharp fall in profits.
"We approach the 2013/14F preliminary results with considerable concern for Tesco's shareholders, which must and should be a material discomfort to the Chairman and Chief Executive of the group. "The current rate of sales contraction in the UK leads us to be worried about the robustness of our 2014/15 forecasts even before we reach the first-quarter update."
Credit Suisse has hiked its target for chip designer ARM Holdings from 1,050p to 1,200p and reiterated its 'outperform' rating ahead of the company's first-quarter results on April 23rd.
The bank thinks that ARM's revenue and earnings will increase at compound annual growth rates of 15% and 23% over 2013-2016, respectively. This growth will be driven by the "rising level of content in smartphones/tablets, limited market share loss, and increasing traction in Networking".
Ashmore and Henderson are the two most expensive asset managers, according to UBS, which downgraded its rating on the former from 'buy' to 'neutral' on Monday.
UBS said it remains positive on Ashmore's fundamentals, though "the valuation is now demanding for an asset class that we feel has stabilised but continues to have a subdued short-term outlook". Henderson, however, remains a 'buy' and stays on the bank's Most Preferred list as it continues to be in the "sweet spot" with flow momentum positive in Europe. | | |
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 | |
No comments:
Post a Comment