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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 rise ahead of US jobs report - Non-farm payrolls in focus
- easyJet traffic up 4.8 per cent in March
- RBS appoints Credit Suisse banker as CFO
techMARK 2,772.13 +0.05%
FTSE 100 6,672.25 +0.35%
FTSE 250 16,391.84 +0.26%
UK stocks opened with small gains on Friday morning ahead of the all-important US non-farm payrolls report due out this afternoon, which always has the potential to spark some volatility across equity markets worldwide.
The FTSE 100 was trading 0.4% higher at 6,672 in early trading; it has not closed above this level since March 11th when it finished at 6,685.52.
Samuel Fox, Financial Sales Trader at Spreadex, said that markets are expected to be "quite twitchy" ahead of the Bureau for Labor Statistics data due out at 13:30.
Consensus forecasts have pencilled in a 200,000 increase in payrolls in March, up from 175,000 the month before, while the unemployment rate is expected to have fallen to 6.6% from 6.7%.
Data from ADP on Wednesday showed that private hiring increased by 191,000 last month, close to analysts' estimates, bolstering expectations of a strong 'official' figure today as the adverse impact from severe winter weather seen in recent months begins to fade.
Fox said: "With the weather dramatically improving in America, the number is predicted to show growth of around 200,000 which could see US markets reach new record highs, however trading over the release of the figure is not for the faint hearted."
easyJet traffic grows, RBS appoints to CFO
easyJet was flying higher this morning after saying the number of passengers in March rose by 4.8% to 5,107,676 compared to a year earlier. The load factor, the number of passengers to the number of seats available, increased to 91.5% from 90.5% the same month in 2013.
Royal Bank of Scotland rose after confirming media speculation by appointing a long-running Credit Suisse banker Ewen Stevenson as its new Chief Finance Officer (CFO), following the resignation of Nathan Bostock in December. Stevenson was also one of the architects of the £45bn government bailout of RBS in 2008.
Oil, gas and mining engineer Kentz Corporation, however, fell after revealing that its CFO, Ed Power, is to step down on reaching his normal retirement age this May.
Supermarket group Tesco was trading lower on speculation that its Finance Chief Laurie McIlwee could quit in the coming days amid falling profits and a recent decline market share. McIlwee has worked for Tesco for 15 years.
Retail peers Marks & Spencer, Kingfisher and Morrison were also in the red this morning.
Telecoms group Vodafone was hit with a downgrade by Nomura to 'neutral' and a target cut from 255p to 240p.
Meanwhile, Pearson was higher after Jefferies upgraded the publisher to 'buy' and raised its target from 1,128p to 1,184p. |
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| FTSE 100 - Risers
RSA Insurance Group (RSA) 93.00p +2.20%
easyJet (EZJ) 1,826.00p +1.95%
Pearson (PSON) 1,026.00p +1.79%
Aberdeen Asset Management (ADN) 440.70p +1.66%
Prudential (PRU) 1,332.50p +1.14%
St James's Place (STJ) 845.50p +1.14%
Lloyds Banking Group (LLOY) 76.99p +1.06%
Diageo (DGE) 1,853.00p +1.06%
Rio Tinto (RIO) 3,350.00p +1.03%
Antofagasta (ANTO) 854.00p +1.01%
FTSE 100 - Fallers
Marks & Spencer Group (MKS) 465.30p -1.34%
Kingfisher (KGF) 440.20p -0.90%
ARM Holdings (ARM) 1,019.00p -0.68%
Vodafone Group (VOD) 217.70p -0.66%
Tesco (TSCO) 290.00p -0.58%
Morrison (Wm) Supermarkets (MRW) 206.30p -0.34%
Smith & Nephew (SN.) 908.00p -0.27%
Barratt Developments (BDEV) 415.50p -0.24%
Sage Group (SGE) 413.00p -0.19%
Rolls-Royce Holdings (RR.) 1,091.00p -0.18%
FTSE 250 - Risers
Man Group (EMG) 104.50p +2.55%
Oxford Instruments (OXIG) 1,376.00p +2.15%
IP Group (IPO) 213.00p +1.91%
F&C Commercial Property Trust Ltd. (FCPT) 120.30p +1.86%
Genus (GNS) 988.00p +1.86%
De La Rue (DLAR) 827.00p +1.78%
Workspace Group (WKP) 587.00p +1.56%
Phoenix Group Holdings (DI) (PHNX) 649.00p +1.56%
Worldwide Healthcare Trust (WWH) 1,350.00p +1.43%
Go-Ahead Group (GOG) 1,996.00p +1.42%
FTSE 250 - Fallers
Centamin (DI) (CEY) 52.50p -2.05%
FirstGroup (FGP) 132.00p -1.86%
Petra Diamonds Ltd.(DI) (PDL) 148.20p -1.85%
AL Noor Hospitals Group (ANH) 1,089.00p -1.45%
National Express Group (NEX) 280.00p -0.99%
Ocado Group (OCDO) 455.80p -0.93%
Rank Group (RNK) 159.90p -0.93%
Henderson Group (HGG) 263.80p -0.83%
Lonmin (LMI) 287.10p -0.62% |
| | UK Event Calendar | | Friday April 04
INTERIM DIVIDEND PAYMENT DATE
Foresight Solar VCT, Gleeson (M J) Group, Go-Ahead Group
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Factory Orders (GER) (11:00)
Non-Farm Payrolls (US) (13:30)
PMI Construction (GER) (08:30)
PMI Retail (EU) (09:10)
PMI Retail (GER) (09:10)
Unemployment Rate (US) (13:30)
ANNUAL REPORT
Alpha Pyrenees Trust Ltd., Menzies(John)
EGMS
JSC Uralkali GDR (Reg S)
AGMS
AFC Energy, P.T. Telekomunikasi Indonesia (Persero) ADS (Repr 200SerB Rp50)(Regs), Rare Earth Minerals Ltd
UK ECONOMIC ANNOUNCEMENTS
New Car Registrations (09:30)
FINAL DIVIDEND PAYMENT DATE
Blackrock Throgmorton Trust, Domino's Pizza Group, MTI Wireless Edge Ltd., Octopus Titan VCT 1, Octopus Titan VCT 2, Octopus Titan VCT 3, Octopus Titan VCT 4, St. Modwen Properties, Treatt |
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| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks rise ahead of US non-farm payrolls - US non-farm payrolls report in focus
- German factory orders miss forecast
- Markit PMI data on Eurozone out
FTSE 100: 0.32%
DAX: 0.18%
CAC 40: 0.09%
FTSE MIB: 0.16%
IBEX 35: 0.22%
Stoxx 600: 0.14%
European stocks gained ahead of a report that is expected to show US employers added more jobs in March.
The Labor Department will release its non-farm payrolls figures which analysts predict will reveal the US economy created 200,000 more jobs in March.
The unemployment rate is expected to drop to 6.6% in March from 6.7% a month earlier.
On Monday, Federal Reserve Chair Janet Yellen said the US jobs market remained weak and extraordinary policy was "still needed and will be for some time to come".
She noted that there were 7m people working part-time that would like a full-time job, companies were not hiring enough and wage growth remained weak.
German factory orders rise less than forecast
German factory rose by 6.1% year-on-year in February, easing back from January's 7.08% increase and missing analysts' estimates for a 6.8% advance.
Markit's purchasing managers index (PMI) for German construction fell to 52.4 in March from 53.6 a month earlier but remained above the level of 50 that indicates expansion.
Markit will at 09:10 BST release its PMI for retail in the Eurozone in March.
The data comes a day after the European Central Bank (ECB) decided to keep policy on hold despite calls for greater measures to support the recovery of the euro-area.
easyJet soars on traffic stats
easyJet gained after the European airline said the number of passengers in March rose 4.8% to 5,107,676.
Vivendi declined ahead of a meeting today to make a decision on the sale of French phone unit SFR, following a month-long bidding war between cable tycoon Patrick Drahi and Bouygues.
Royal Bank of Scotland advanced after appointing long-running Credit Suisse banker Ewen Stevenson as its new Chief Finance Officer, following the resignation of Nathan Bostock in December.
The euro fell 0.15% to $1.3700.
Brent crude futures rose $0.375 to $106.550 per barrel, according to the ICE. |
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| | US Market Report | | US close: Indices pull back from record highs ahead of jobs data - Investors turn cautious ahead of non-farm payrolls
- Dow, S&P 500 reach intraday highs before erasing gains
- Jobless claims, ISM services, trade data miss forecasts
Dow Jones: 0.00%
Nasdaq: -0.90%
S&P 500: -0.10%
Despite a positive start, which saw both the Dow Jones Industrial Average and S&P 500 rise to intraday records, US stocks finished broadly lower on Thursday after some slightly worse-than-anticipated economic data.
Investors also chose to take profits ahead of the all-important non-farm payrolls report due out on Friday, which always has the potential to spark some volatility across equity markets worldwide.
Stocks edged higher initially after the opening bell, sending the Dow to an all-time high of 16,589.19 and the S&P 500 to a record 1,893.80. However, gains were largely erased by the close; the Dow finished flat while the S&P 500 fell 0.1%.
The Nasdaq, meanwhile, finished down 0.9%, dragged lower by a host of biotechnology stocks.
Economic data in focus
Initial weekly jobless claims rose by 16,000 to 326,000 in the week ending March 29th, compared with a revised 310,000 the week before. Analysts had expected a smaller increase to 317,000.
Analyst Cooper Howes from Barclays said that despite the increase the four-week moving average was little changed at 320,000. Meanwhile, seasonal factor revisions to historical data also showed a "smoother trend". He added: "Overall, this report is consistent with our view that the separations side of the labour market has continued to improve since the end of the recession."
The ISM non-manufacturing index rose from 51.6 to 53.1 in March, below the forecast of 53.5, although both the new orders and employment gauges improved.
Meanwhile, there was an unexpected increase in the trade deficit to $42.3bn in February, from a revised $39.3bn the month before. The consensus estimate was for a narrower trade gap of $38.5bn.
Stocks rose on Wednesday after figures from ADP showed that private-sector payrolls increased by 191,000 in March, close to analysts' expectations.
This showed that the adverse weather impact on data began to ease last month, bolstering expectations for Friday's official employment report by the Bureau of Labor Statistics. The consensus forecast is for a 200,000 increase in non-farm payrolls, up from 175,000 the previous month, while the unemployment rate is expected to fall to 6.6% from 6.7%.
Anadarko surges
Anadarko Petroleum closed 15% higher after agreeing to pay $5.15bn to settle environmental claims following the purchase of Kerr-McGee, ending a long-running lawsuit since the acquisition in 2006.
Gadget giant Apple fell on reports it is in talks to buy a unit of Japanese chipmaker Renesas Electronics in an effort to bring smartphone display technology in-house. According to Nikkei, Renesas could sell its stake in the joint venture, SP Drivers division, for around 50bn yen ($479m).
Tesla rose after the electric car maker said it would appeal a decision in New Jersey to ban sales directly to consumers.
Google issued new shares as part of its two-for-one stock split, causing the old Class C shares - which still trade under the ticker symbol 'GOOG' - to halve in price.
Biotechnology stocks fell by an average 2.7% after a strong performance earlier in the week. Vertex Pharmaceuticals and Alexion Pharmaceuticals both finished firmly lower.
S&P 500 - Risers
Anadarko Petroleum Corp. (APC) $99.02 +14.51%
Kellogg Co. (K) $66.39 +5.97%
Intuitive Surgical Inc. (ISRG) $540.62 +4.27%
Cablevision Systems Corp. (CVC) $17.35 +2.91%
Newfield Exploration Co (NFX) $32.33 +2.90%
GameStop Corp. (GME) $44.39 +2.35%
Xerox Corp. (XRX) $11.77 +2.35%
Monsanto Co. (MON) $117.04 +2.29%
Range Resources Corp. (RRC) $87.82 +2.28%
Stryker Corp. (SYK) $84.13 +2.24%
S&P 500 - Fallers
Google Inc. (GOOGL) $571.50 -49.65%
E*TRADE Financial Corp. (ETFC) $22.16 -6.50%
Facebook Inc. (FB) $59.47 -5.20%
First Solar Inc. (FSLR) $68.48 -4.80%
Adobe Systems Inc. (ADBE) $62.45 -4.63%
Vertex Pharmaceuticals Inc. (VRTX) $69.12 -4.40%
Salesforce.Com Inc. (CRM) $55.74 -4.14%
TripAdvisor Inc. (TRIP) $91.30 -4.06%
Expedia Inc. (EXPE) $73.43 -3.39%
Red Hat Inc. (RHT) $51.34 -3.33%
Dow Jones I.A - Risers
Intel Corp. (INTC) $26.41 +1.99%
Unitedhealth Group Inc. (UNH) $82.25 +0.78%
AT&T Inc. (T) $35.63 +0.74%
General Electric Co. (GE) $26.23 +0.73%
American Express Co. (AXP) $90.98 +0.64%
Verizon Communications Inc. (VZ) $48.12 +0.63%
Cisco Systems Inc. (CSCO) $23.09 +0.43%
Travelers Company Inc. (TRV) $84.98 +0.39%
Boeing Co. (BA) $128.78 +0.37%
Wal-Mart Stores Inc. (WMT) $77.46 +0.36%
Dow Jones I.A - Fallers
Microsoft Corp. (MSFT) $41.01 -0.82%
Nike Inc. (NKE) $73.99 -0.74%
Goldman Sachs Group Inc. (GS) $166.09 -0.71%
Home Depot Inc. (HD) $79.40 -0.69%
Coca-Cola Co. (KO) $38.07 -0.68%
International Business Machines Corp. (IBM) $192.69 -0.44%
Merck & Co. Inc. (MRK) $56.21 -0.44%
Chevron Corp. (CVX) $119.04 -0.26%
E.I. du Pont de Nemours and Co. (DD) $68.01 -0.16%
United Technologies Corp. (UTX) $119.77 -0.08%
Nasdaq 100 - Risers
Intuitive Surgical Inc. (ISRG) $540.62 +4.27%
Intel Corp. (INTC) $26.41 +1.99%
Fastenal Co. (FAST) $51.19 +1.61%
Kraft Foods Group, Inc. (KRFT) $57.31 +1.17%
Nvidia Corp. (NVDA) $18.73 +1.08%
Nxp Semiconductors Nv (NXPI) $61.91 +0.93%
Staples Inc. (SPLS) $12.10 +0.92%
DIRECTV (DTV) $78.63 +0.83%
Altera Corp. (ALTR) $36.39 +0.80%
Expeditors International Of Washington Inc. (EXPD) $40.24 +0.80%
Nasdaq 100 - Fallers
Google Inc. (GOOGL) $571.50 -49.65%
Facebook Inc. (FB) $59.47 -5.20%
Illumina Inc. (ILMN) $148.44 -5.19%
Adobe Systems Inc. (ADBE) $62.45 -4.63%
Vertex Pharmaceuticals Inc. (VRTX) $69.12 -4.40%
TripAdvisor Inc. (TRIP) $91.30 -4.06%
Expedia Inc. (EXPE) $73.43 -3.39%
Catamaran Corp (CTRX) $43.75 -3.27%
Akamai Technologies Inc. (AKAM) $56.44 -2.99%
Citrix Systems Inc. (CTXS) $57.06 -2.83% |
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| | Newspaper Round Up | | Friday newspaper round-up: Top rate of tax, SSE, RBS George Osborne is facing demands to cut the top rate of tax again to 40p after figures suggested the wealthy had paid more tax since he cut the 50p rate. The amount raised from top-rate taxpayers is expected to increase by 9bn pounds in 2013-14, the year for which it was reduced to 45p by the Chancellor. Conservatives said that lowering it back to its pre-2010 level of 40p could raise even more money from the rich. – The Times
The chief executive of SSE, one of the big six energy providers, has urged the industry to move away from its confrontational stance and embrace all market reforms that benefit the customer. Alistair Phillips-Davies also called on the Competition and Markets Authority (CMA) to undertake the widest possible investigation of all aspects of the sector in a bid to clear the air. – The Guardian
Royal Bank of Scotland today named Ewen Stevenson as its new chief finance officer, replacing Nathan Bostock who quit at the end of last year. Stevenson takes up the role on 19 May and joins from Credit Suisse, where he is joint head of investment banking for Europe, the Middle East and Africa. - Scotsman
A US Coast Guard report has concluded that authorities should consider hitting Shell with penalties over the grounding of an oil drilling rig in the Gulf of Alaska in 2012. The 152-page report, released late on Thursday night, blamed poor risk assessment and management as reasons why the Kulluk broke away from its tow vessel in late December 2012 and ran aground four days later on Sitkalidak Island, near Kodiak. – The Daily Telegraph
One of Scotland's largest companies, Weir Group, believes that independence will "guarantee" higher costs for business but produce few and uncertain benefits. The Glasgow-based engineering firm, which has about 15,000 employees worldwide, said an expert report it commissioned from Oxford Economics had found that taxes and borrowing costs would be likely to rise, while public spending would be cut after independence. – The Guardian
Ed Miliband is considering returning rail franchises to public ownership, the Labour leader confirmed yesterday, in a move that could mark a further move to the Left by the party. Mr Miliband is looking at allowing a state-backed body to compete alongside existing rail franchise owners such as Virgin and Stagecoach when contracts are put out to tender. However, he said that the plan had not yet been agreed because it had to be "affordable". – The Times | | |
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