Evening Euro Markets Bulletin

ADVFN III Evening Euro Markets Bulletin Daily world financial news Friday, 30 May 2014 17:40:39 Monitor Quote Charts News CFD's Spreadbetting Free BB   Sponsored by: Accendo TSB IPO - Record breaking floatation Download your TSB 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: Miners drag FTSE to negative finish - FTSE closes down 26.78 points at 6,844.51 - Fenner, miners provide drag - UK consumer confidence out of the red techMARK 2,812.27 +0.10% FTSE 100 6,844.51 -0.39% FTSE 250 16,010.25 +0.35% Miners dragged the FTSE to a negative finish in today's session, following what one analyst described as a "directionless" day of trading. The top tier index closed 26.78 points lower at 6,844.51. Mining stocks were trading firmly in the red as iron ore prices headed for their sixth consecutive monthly decline, the longest losing streak on record. Meanwhile, concerns about a slowdown in China were also having an impact on stocks, as well as a profit warning from Fenner, which makes conveyor belts for the mining industry. "The day has seen a range of just over 30 points for the FTSE 100, with the 6870-6880 range once again proving too much for the index," IG Chief Market Strategist Brenda Kelly said. "Most of the damage has been done by miners, who are down on China concerns and slumping iron ore prices, although banks are decidedly mixed as the market digests the news of a possible jumbo fine for BNP Paribas that has sent shares in the French bank down to eight-month lows. "The FTSE continues to pose a nagging question about its upward progress, and it will have escaped few people's notice that current levels have been followed by swift and brutal selling. Aimless trading cannot go on forever, and the longer we fail to push towards 7,000 the greater the likelihood that another trip to 6,500 is in order." UK consumer confidence out of the red for first time in nine years The GfK barometer of consumer confidence in the UK for May improved to a reading of 0 in comparison with -3 the month before. The consensus estimate had been for a print of -1. May's data marked the first non-negative reading since the same month of 2005. In other macro news, the pace of economic growth in Britain picked up in May to its fastest since 2003, according to the Confederation of British Industry (CBI). A positive balance of 35% of respondents to the survey said activity had accelerated during the month, versus 25% in April. The UK economy seemed to have continued to grow strongly going into the second quarter thanks to rising business and consumer confidence, better credit conditions at home and improving global economic conditions, the business lobby added. Meanwhile, the UK public's expectations for inflation over the coming year rose to 2.1% in May from 2% in the previous month, according to a YouGov survey. Inflation is forecast to increase to 3.1% in the next five to 10 years, compared to an April estimate of 2.9%. Citi, which sponsors the survey, said the inflation expectations are not high enough to force the Bank of England to raise interest rates regardless of the pace of economic growth. "But nor do trends in inflation and inflation expectations justify the Monetary Policy Committee keeping rates 'low for longer' in the face of strong economic growth and rising capacity use," Citi added. Miners slide on iron ore and China concerns Mining stocks were trading firmly in the red as iron ore prices were headed for their sixth consecutive monthly decline, the longest losing streak on record. Meanwhile, concerns about a slowdown in China were also having an impact on stocks, as well as a profit warning from FTSE 250-listed Fenner, which makes conveyor belts for the mining industry. Anglo American, Rio Tinto, BHP Billiton, Fresnillo, Randgold Resources, Antofagasta, and Glencore were all big losers today. Rising iron ore supplies from Australia and Brazil have prompted a 9% fall in prices this month, with the value of the commodity having now fallen every month since December. This is the longest string of monthly losses since data from The Steel Index began in November 2008, according to Bloomberg. DIY retailer Kingfisher was continuing to fall after an underwhelming first-quarter statement yesterday as Barclays Capital cut the shares to 'equal weight' and trimmed its target. Meanwhile, medical device maker Smith & Nephew continued to soar as bid speculation continued to drive the stock higher. While US peer Stryker was forced to publicly deny reports that it was working on a bid for the company, its boss yesterday confirmed in an interview that the company had in fact been in the early stages of considering a transaction but was not ready to make an offer. UBS this morning added the stock to its 'M&A Watch List'. On the second tier, polymer products maker Fenner slumped after warning that underlying group profit before tax for the current fiscal year could be reduced by as much as 10-15% below the current consensus market expectation of £77.6m. Unmissable opportunity with the world's largest resort hotelier.. Get 7% returns guaranteed for 4 years with one of the world's most exclusive destinations. Our unique opportunity in Cape Verde is one not to be missed! Register your details here to receive the FREE brochure FTSE 100 - Risers Admiral Group (ADM) 1,458.00p +2.10% Smith & Nephew (SN.) 1,046.00p +1.65% Sainsbury (J) (SBRY) 346.10p +1.61% Marks & Spencer Group (MKS) 449.20p +1.45% Severn Trent (SVT) 1,968.00p +1.39% Whitbread (WTB) 4,186.00p +1.16% Carnival (CCL) 2,425.00p +1.08% InterContinental Hotels Group (IHG) 2,355.00p +1.03% Persimmon (PSN) 1,338.00p +0.91% United Utilities Group (UU.) 868.00p +0.87% FTSE 100 - Fallers Anglo American (AAL) 1,457.50p -5.66% Rio Tinto (RIO) 3,057.00p -4.12% BHP Billiton (BLT) 1,868.00p -3.74% Fresnillo (FRES) 806.00p -3.47% Randgold Resources Ltd. (RRS) 4,357.00p -3.01% Antofagasta (ANTO) 788.50p -1.99% Johnson Matthey (JMAT) 3,212.00p -1.89% CRH (CRH) 1,637.00p -1.62% Glencore (GLEN) 323.35p -1.49% Kingfisher (KGF) 392.00p -1.26% FTSE 250 - Risers Redefine International (RDI) 59.20p +5.53% Xaar (XAR) 864.00p +5.24% Supergroup (SGP) 1,166.00p +5.14% Perform Group (PER) 277.00p +4.53% Euromoney Institutional Investor (ERM) 1,189.00p +4.48% Ocado Group (OCDO) 386.70p +3.81% Diploma (DPLM) 654.00p +3.81% Dairy Crest Group (DCG) 467.00p +3.78% Foxtons Group (FOXT) 329.90p +3.74% Hikma Pharmaceuticals (HIK) 1,705.00p +3.46% FTSE 250 - Fallers Fenner (FENR) 350.00p -10.19% Evraz (EVR) 104.80p -4.03% Paragon Group Of Companies (PAG) 375.70p -3.37% Restaurant Group (RTN) 598.00p -2.84% Home Retail Group (HOME) 188.40p -2.79% African Barrick Gold (ABG) 217.00p -2.56% Grainger (GRI) 217.00p -2.47% Vedanta Resources (VED) 1,100.00p -2.40% BlackRock World Mining Trust (BRWM) 457.50p -2.29% Lonmin (LMI) 256.90p -2.25% DISCOUNTED SUMMER HOLIDAY offer for ADVFN users! Get 20% off accomodation costs and treat yourself to the best of Mauritius. Golf courses, spas, fine dining and child friendly. Dont miss out on this fantastic limited offer! Get in touch here, mention ADVFN and get a discounted quote! Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe close: Stocks little changed after slate of economic data - German retail sales rise on the year - Spanish inflation eases - UK consumer confidence increases - US household purchases fall - US consumer confidence drops FTSE 100: -0.39% DAX: 0.04% CAC 40: -0.24% FTSE MIG 0.55% IBEX 35: 0.60% Stoxx 600: -0.08% European stocks were little changed following a batch of data in the euro-area, the UK and the US. German retail sales jumped 3.4% year-on-year in April following a 1.1% drop the previous month, exceeding the forecast for a 1.5% increase. On the month, however, sales fell 0.9% compared to a 0.1% gain in March and analysts' expectations for a 0.2% rise. Spanish inflation slowed in May, driven by falls in food and drink. Prices rose 0.2% this month from a year earlier, down from 0.4% in April, fuelling fears over Eurozone deflation. The European Central Bank (ECB) President Mario Draghi has said that he is ready to act next month if needed to address low inflation in the euro-area but has insisted that he sees no threat of deflation. In the UK, GfK's consumer confidence index rose to 0 in May from -3 a month earlier, beating analysts' estimates of -2. It marked the first non-negative reading since May 2005. Stateside, household purchases fell 0.1% last month following a 1% increase in March, the Commerce Department said today, surprising analysts who had predicted a 0.2% rise. Another US report showed consumer confidence dropped more than forecast in May. The Thomson Reuters/University of Michigan final index of sentiment dropped to 81.9 in May from 84.1 in April. Economists had pencilled in a reading of 82.5 after an initial reading of 81.8. Societe Generale Societe Generale slumped after Les Echos reported that the French bank's Russian unit posted a decline in first-quarter profit. Fenner declined as the maker of conveyor belts said it expects underlying pre-tax profit to be 10-15% lower than analysts' estimates of £77.6m due to tough trading conditions in the US coal sector. BNP Parabis dropped on reports US authorities are seeking more than $10bn from the bank to settle investigations into dealings with sanctioned countries. A gauge of commodity producers, including Rio Tinto and BHP Billiton, edged lower as iron ore prices fell. Salamander Energy advanced on reports Cia Espanola de Petroleos SAU is considering a €700m bid for the UK oil explorer. The euro rose 0.26% to $1.3638. Brent crude futures fell $0.585 to $109.330 per barrel, according to the ICE. iPad mini worth £269 for new trading accounts! A minimum volume is required. Terms and conditions apply. Find out more, click here. US Market Report US open: Stocks little changed after consumer spending data US stocks were little changed as consumer spending unexpectedly declined in April. Household purchases fell 0.1% last month following a 1% increase in March, the Commerce Department said today, surprising analysts who had predicted a 0.2% rise. "We're not too concerned by the falls in spending in April (0.1% month-on-month in nominal terms and 0.3% in real terms) as they were partly due to lingering weather effects," Capital Economics said. Meanwhile, a report on consumer confidence is due out this afternoon. The University of Michigan is likely to revise its consumer confidence index upwards to 82.5 in May from 81.8 in April, according to forecasts. The Chicago purchasing managers' index (PMI) is expected to fall to 60.8 in May from 63 the previous month. The data comes as Federal Reserve President Kasas City Esther George said the central bank should begin raising interest rates soon after it winds down its bond buying programme in response to improving economic conditions. "Many of the rules offering policy guidance on the federal funds rate—such as the 'Taylor rule' and its variants—are already or close to prescribing a policy rate higher than the current funds rate," she said. "[…] In this environment, the pressure to quickly back away from a rising rate policy will be significant; such pressures will need to be resisted. If not, we risk moving into a confusing stop-and-go policy environment." BNP Paribas BNP Paribas dropped after a report revealed US authorities are seeking more than $10bn to settle federal and state investigations into dealings with sanctioned countries including Sudan and Iran. Google declined as the company moved to comply with the European Union court's ruling this month that backs the right of citizens to have their online information deleted. General Motors slumped as the automaker said it wants a New York court to handle lawsuits arising from its ignition defect recall. The US 10-year yield held at 2.47%. West Texas Intermediate crude futures fell $0.769 to $102.790 per barrel, according to the ICE. Still in the dark over active tax planning? Our planning experts can help you reduce your tax liability! Register here to quality for a FREE financial audit and hear about government approved allowances and existing opportunities available. Its politically correct tax planning for non-celebrities! Friday broker round-up UPDATE ASOS: N+1 Singer reduces target from 5300p to 4100p, while staying with its hold recommendation. Cairn Energy: JP Morgan cuts target from 315p to 279p and maintains an overweight rating. Cobham: Canaccord Genuity increases target from 285p to 320p and reiterates a hold recommendation. Edge Resources: Sanlam Securities shifts target from 10p to 14p and keeps its buy recommendation. Eland Oil & Gas: Westhouse Securities ups target from 104p to 123p upgrading from sell to neutral. EnQuest: Canaccord Genuity moves target from 175p to 185p and leaves its buy recommendation unchanged. Fenner: FinnCap reduces target from 450p to 330p eith a hold recommendation. Numis downgrades from add to hold with a target of 400p. N+1 Singer places both its target (prev.: 395p) and its hold recommendation under review. Investec cuts target from 360p to 320p and stays with its sell recommendation. James Fisher: Sanlam Securities initiates with a target of 1600p and a buy recommendation. Kighfisher: Barclays cuts target from 460p to 420p downgrading to equal-weight. Mitchells & Butlers: Numis upgrades from add to buy with a target of 525p. Citi upgrades to buy with a target of 500p. Petroceltic International: Westhouse Securities lowers target from 250p to 240p, while retaining a buy recommendation. Shanks Group: Credit Suisse ups target from 100p to 125p and upgrades from neutral to outperform. Smith & Nephew: UBS raises target from 1000p to 1100p and maintains a buy recommendation. Tate & Lyle: UBS ups target from 600p to 630p, but still recommends selling. Credit Suisse cuts target from 700p to 650p and downgrades from neutral to underperform. Vectura Group: Berenberg moves target from 200p to 210p and keeps a buy recommendation.   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 - Disappointing Spending Data May Weigh On The Markets

ADVFN  World Daily Markets Bulletin Daily world financial news Friday, 30 May 2014 09:55:42    Monitor Quote Charts News Toplists Forex Boards   Sponsored by: VectorVest A Better Way to Make Money in the Stock Market Anybody can make money with the amazing Midas Touch Cherry-Picking System. Click here for VIDEO PRESENTATION US Market Shanghai Hang Seng NIKKEI ASX The major U.S. index futures are currently pointing to a modestly lower opening on Friday following the release of a report showing an unexpected drop in personal spending in the month of April. While most economists are likely to continue to expect a rebound in economic activity in the second quarter, the data may still lead to some trepidation after yesterday’s report showing a contraction in first quarter GDP. Stocks moved mostly higher over the course of the trading day on Thursday, more than offsetting the modest weakness seen in the previous session. With the gains on the day, the S&P 500 reached another new record closing high. The major averages saw further upside going into the close, ending the session at their best levels of the day. The Dow rose 65.56 points or 0.4 percent to 16,698.74, the Nasdaq climbed 22.87 points or 0.5 percent to 4,247.95 and the S&P 500 advanced 10.25 points or 0.5 percent to 1,920.03. The strength on Wall Street partly reflected a positive reaction to a mixed batch of economic data, including a report from the Labor Department showing a bigger than expected drop in initial jobless claims. The report said initial jobless claims fell to 300,000 in the week ended May 24th, a decrease of 27,000 from the previous week's revised level of 327,000. Economists had been expecting jobless claims to dip to 317,000. Meanwhile, revised data from the Commerce Department showed that GDP fell by 1.0 percent in the first quarter compared to the initial estimate for a 0.1 percent uptick. The drop marked the first contraction in GDP since the first quarter of 2011 and was steeper than the 0.5 percent drop expected by economists. While a majority of the major sectors moved higher on the day, most finished the session showing relatively modest moves. Tobacco, oil service, chemical, software, and internet stocks saw some strength on the day. Get to know Wocket - a next generation smart wallet Have all your credit cards, ID  and loyalty cards in one  biometrically secure device and card!  Advance order at www.wocketwallet.com Wocket is a product of NXT-ID Inc ( OTCQB:NXTD) : The payment industry is about to Change! US Economic Reports CADUSD Oil Gold Allbanc Please click on the images to view our interactive charts The Commerce Department recently released a report showing that U.S. personal income rose in line with economist estimates in the month of April, although the report also showed an unexpected drop in personal spending for the month. The report showed that personal income rose by 0.3 percent in April following a 0.5 percent increase in March. The increase marked the fourth straight month of growth and matched expectations. On the other hand, the Commerce Department said personal spending edged down by 0.1 percent in April after surging up by 1.0 percent in March. The modest decrease surprised economists, who had expected spending to rise by 0.2 percent. At 9:45 am ET, MNI Indicators is scheduled to release its report on Chicago-area business activity in the month of May. The business barometer is expected to dip to 61.0, although a reading above 50 would indicate continued growth. MNI Indicators said the Chicago business barometer surged up to 63.0 in April from 55.9 in March. Economists had been expecting the barometer to climb to a reading of 57.0. With the much bigger than expected increase, the business barometer bounced well off the seven-month low set in March to reach its highest level since last October. Thomson Reuters and the University of Michigan are also scheduled to release their revised report on consumer sentiment in May at 9:55 am ET. The consumer sentiment index for May is expected to be upwardly revised to 82.5 from the mid-month reading of 81.8, which was down from 84.1 in April. Additionally, incoming Cleveland Federal Reserve Bank President Loretta Mester is scheduled to speak at a conference on inflation and monetary policy in Cleveland at 12:30 pm ET. Richmond Fed President Jeffrey Lacker is also due to discuss a paper on lender of last resort in Stanford, California at 2 pm ET, while Philadelphia Fed President Charles Plosser and San Francisco Fed President John Williams will appear on a panel on monetary policy at 5 pm ET. 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 Shares of Big Lots (BIG) are likely to see early strength after the closeout retailer reported better than expected first quarter earnings. The company also raised its full-year earnings outlook. Meanwhile, teen apparel retailer Pacific Sunwear (PSUN) is likely to come under pressure after the company reported a narrower than expected first quarter loss but provided disappointing guidance. Shares of Express (EXPR) are also likely to see early weakness after the apparel retailer reported weaker than expected first quarter earnings and forecast second quarter earnings below analyst estimates. European Market The major European markets have moved to the downside on the day. While the German DAX Index is just below the unchanged line, the U.K.’s FTSE 100 Index and the French CAC 40 Index are down by 0.2 percent and 0.4 percent, respectively. In corporate news, BNP Paribas has come under pressure amid reports that the U.S. is seeking $10 billion to settle some investigations. Fenner is also posting a steep loss after warning of a full year pre-tax profit sharply below market expectations. Bucking the downtrend trend, Smith & Nephew is seeing further upside amid talks of an acquisition offer from U.S.-based Stryker (SYK). On the economic front, German retail sales unexpectedly fell in April after rising for three consecutive months, Destatis said. Retail sales in April declined by 0.9 percent from March, when sales edged up by 0.1 percent. Sales were expected to rise 0.2 percent. No platform or data fees with no trade minimums Trade free for 60 days + get up to $600 cash. Join TD Ameritrade Asian Markets USDCAD USDEUR USDGBP USDJPY Please click on the images to view our interactive charts Asian stocks moved mostly lower on Friday following the disappointing U.S. GDP data. Investors were also looking ahead to official Chinese manufacturing data slated for release over the weekend as well as next Thursday’s monetary policy meeting at the European Central Bank. Japanese shares ended slightly lower, snapping a six-day winning streak as investors locked in some profits. The Nikkei 225 Index turned lower after seeing initial strength, ending the day down 49.34 points or 0.3 percent at 14,632.38. Brokerage and pulp and paper stocks led the way lower. Heavyweight Fast Retailing dropped 1.3 percent and Fanuc shed 0.9 percent, while SoftBank advanced 1.5 percent. Official figures showed Japanese consumer prices rose at their fastest pace in 23 years in April, diminishing chances for further easing by the Bank of Japan. Nationwide core inflation rose 3.2 percent from a year earlier, beating forecasts and up sharply from 1.3 percent in the previous month. The Japanese jobless rate came in at a seasonally adjusted 3.6 percent in April, unchanged from the previous month and in line with expectations, while industrial output fell more than expected in April. Australian shares fell as an extended sell-off in iron ore prices hurt miners. The All Ordinaries Index slid 25.40 points or 0.5 percent to 5,473.80. Mining giants BHP Billiton and Rio Tinto dropped about 1.3 percent each. In economic news, total private sector credit in Australia grew 0.5 percent in April from the previous month, central bank data showed. That beat expectations for a 0.4 percent rise. China's Shanghai Composite Index also edged down 1.38 points or 0.1 percent to 2,039.21, as investors adopted a cautious stance ahead of a long weekend. On the other hand, Hong Kong's Hang Seng Index bucked the downtrend and rose 71.51 points or 0.3 percent to 23,081.65, led by gains by property developers. 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 falling $0.70 to $102.88 a barrel after climbing $0.86 to $103.58 a barrel on Thursday. Gold futures are sliding $3.10 to $1,254 an ounce. In the previous session, gold dipped $2.60 to $1,257.10 an ounce. Among currencies, the U.S. dollar is trading at 101.68 yen compared to the 101.79 yen it fetched at the close of New York trading on Thursday. Against the euro, the dollar is valued at $1.3617 compared to yesterday's $1.3602.     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 Friday, 30 May 2014 09:44:42 Monitor Quote Charts News CFD's Spreadbetting Free BB   Sponsored by: Accendo TSB IPO - Record breaking floatation Download your TSB 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: UK stocks fall from two-week high as miners slip - Mining stocks provide a drag on iron ore price decline - Fenner plummets after profit warning - Economic data comes in mixed techMARK 2,810.65 +0.04% FTSE 100 6,858.36 -0.19% FTSE 250 15,975.00 +0.13% UK stocks slipped on Friday morning, pulling back from a two-week high after three straight days of gains, with the heavyweight mining sector providing a drag in London. The FTSE 100 was down 0.2% at 6.858 after hitting 6,871.29 on Thursday, its highest close since May 14th when it reached a new 14-year high of 6,787.49. Mining stocks were trading firmly in the red early on as iron ore prices were headed for their sixth consecutive monthly decline, the longest losing streak on record. Ahead of the open, Jasper Lawler, Market Analyst at CMC Markets UK, said that markets across Europe were likely to open mixed as traders turn cautious after another record close for the S&P 500 in the US last night. "Trading has been a bit muted this week as traders are sitting on their hands in anticipation of the expected announcement of monetary easing from the European Central Bank next week," he said. Meanwhile, investors were also focusing on a batch of mixed economic data from across the globe, including an improvement in consumer confidence in the UK, weak industrial production figures and stronger-than-expected inflation in Japan, and an unexpected dip in retail sales in Germany. Miners weigh on markets, Fenner plummets Rising iron ore supplies from Australia and Brazil have prompted a 9% fall in prices this month, with the value of the commodity having now fallen every month since December. This is the longest string of monthly losses since data from The Steel Index Ltd began in November 2008, according to Bloomberg. Diversified miners Anglo American, BHP Billiton and Rio Tinto were among the worst performers on the FTSE 100. In another hit to sentiment in the mining industry, polymer products group Fenner, which makes conveyor belts for resource companies, issued a profit warning this morning. The group said annual profits would be 10-15% below market expectations on the back of weakness in the US coal industry, causing shares to sink sharply. Meanwhile, solid fuel supplier and logistics group Hargreaves Services also fell after saying results from its Production Division will be below expectations this year due "challenging trading conditions" in coke markets and delays. GlaxoSmithKline edged higher on rumours that it has approached a number of private equity firms to gauge the interest for a range of its older drugs as it attempts to refresh its portfolio. According to various reports, the pharmaceutical group has contacted companies including Advent International, Blackstone and KKR regarding a £7.5bn portfolio of mature products. AIM-listed oil explorer Petroceltic was trading lower after giving investors a trio of "disappointing" updates from its international drilling programme. Film Investment opportunity from the Executive Producer of The King's Speech An EIS opportunity from Mark Foligno, executive producer of ‘The King's Speech’ which grossed over £250m worldwide. The opportunity allows UK investors to offset considerable tax liabilities.  Click Here FTSE 100 - Risers Admiral Group (ADM) 1,446.00p +1.26% Whitbread (WTB) 4,189.00p +1.23% Schroders (SDR) 2,647.00p +1.19% ITV (ITV) 186.10p +1.03% Sage Group (SGE) 415.60p +0.92% Sports Direct International (SPD) 799.50p +0.82% Associated British Foods (ABF) 3,049.00p +0.79% Severn Trent (SVT) 1,955.00p +0.72% Reed Elsevier (REL) 956.00p +0.58% Smith & Nephew (SN.) 1,035.00p +0.58% FTSE 100 - Fallers Anglo American (AAL) 1,493.00p -3.37% Rio Tinto (RIO) 3,108.00p -2.52% BHP Billiton (BLT) 1,906.00p -1.78% Fresnillo (FRES) 820.50p -1.74% Morrison (Wm) Supermarkets (MRW) 198.90p -1.63% Glencore (GLEN) 323.75p -1.37% Randgold Resources Ltd. (RRS) 4,437.00p -1.22% Kingfisher (KGF) 393.00p -1.01% Ashtead Group (AHT) 877.50p -0.96% Friends Life Group Limited (FLG) 311.30p -0.92% FTSE 250 - Risers Henderson Group (HGG) 252.20p +2.69% Mitchells & Butlers (MAB) 423.60p +2.15% Genesis Emerging Markets Fund Ltd Ptg NPV (GSS) 538.00p +2.09% Ocado Group (OCDO) 380.10p +2.04% CSR (CSR) 588.00p +1.91% Afren (AFR) 151.90p +1.67% Infinis Energy (INFI) 210.00p +1.45% Partnership Assurance Group (PA.) 130.10p +1.40% Jupiter Fund Management (JUP) 404.20p +1.38% Bwin.party Digital Entertainment (BPTY) 118.90p +1.36% FTSE 250 - Fallers Fenner (FENR) 339.90p -12.78% Evraz (EVR) 106.90p -2.11% Redefine International (RDI) 55.00p -1.96% Grafton Group Units (GFTU) 565.50p -1.74% Tate & Lyle (TATE) 689.50p -1.71% Paragon Group Of Companies (PAG) 382.80p -1.54% Vedanta Resources (VED) 1,111.00p -1.42% Booker Group (BOK) 141.20p -1.19% Lonmin (LMI) 259.70p -1.18% UK Event Calendar INTERIMS APC Technology Group, Standard Life European Private Equity Trust INTERIM DIVIDEND PAYMENT DATE Mcbride QUARTERLY PAYMENT DATE City of London Inv Trust, Picton Property Income Ltd INTERNATIONAL ECONOMIC ANNOUNCEMENTS Balance of Payments (GER) (07:00) Chicago PMI (US) (14:45) Personal Consumption Expenditures (US) (13:30) Personal Income (US) (13:30) Personal Spending (US) (13:30) Retail Sales (GER) (07:00) U. of Michigan Confidence (Final) (US) (14:55) FINALS Acal, HarbourVest Global Private Equity Limited A Shs, Indian Hotels Company Ltd. GDR (Reg S), Westminster Group ANNUAL REPORT Central Rand Gold Ltd, HarbourVest Global Private Equity Limited A Shs SPECIAL DIVIDEND PAYMENT DATE Admiral Group, Elementis, Foxtons Group , ITV EGMS Acencia Debt Strategies Ltd. AGMS Alba Mineral Resources, Capital & Regional, Leyshon Resources Ltd., OJSC Magnitogorsk Iron & Steel Works GDR (Reg S), Polyus Gold International Ltd, PXP Vietnam Fund Ltd., ROS Agro GDR REG S, Shanta Gold Ltd., Telefonica SA FINAL DIVIDEND PAYMENT DATE Action Hotels, Admiral Group, Aer Lingus Group, Alkane Energy, BG Group, Blackstar Group SE (DI), Cobham, Croda International, CSR, DRS Data & Research Services, Dunedin Income Growth Inv Trust, Elementis, EP Global Opportunities Trust, F&C Private Equity Trust, Ferrexpo, Foxtons Group , Glencore , Goals Soccer Centres, Good Energy Group, Henderson Group, Henry Boot, Highcroft Investment, Highland Gold Mining Ltd., Hydrogen Group, IFG Group, Inmarsat, ITV, Maven Income & Growth 3 VCT, Maven Income & Growth 4 VCT, Maven Income and Growth VCT 5, Morgan Advanced Materials , Old Mutual, Partnership Assurance Group , Polymetal International, Randgold Resources Ltd., Regus, Senior, SIG, SimiGon Ltd. (DI), Smart Metering Systems, Spirax-Sarco Engineering, SQS Software Quality Systems AG, Travis Perkins, Weir Group   DISCOUNTED SUMMER HOLIDAY offer for ADVFN users! Get 20% off accomodation costs and treat yourself to the best of Mauritius. Golf courses, spas, fine dining and child friendly. Dont miss out on this fantastic limited offer! Get in touch here, mention ADVFN and get a discounted quote! Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe open: Stocks little changed after UK and German data - UK consumer confidence rises - German retail sales rises on the year - US consumer confidence data due FTSE 100: -0.22% DAX: -0.04% CAC 40: -0.61% FTSE MIG 0.11% IBEX 35: 0.05% Stoxx 600: -0.15% European stocks were little changed as investors weighed reports on UK consumer confidence and German retail sales and awaited a batch of US data. GfK's consumer confidence index rose to 0 in May from -3 a month earlier, beating analysts' estimates of -2. German retail sales jumped 3.4% year-on-year in April following a 1.1% drop the previous month, exceeding the forecast for a 1.5% increase. On the month, however, sales fell 0.9% compared to a 0.1% gain in March and analysts' expectations for a 0.2% rise. In the US later on will be the release of consumer confidence data. The University of Michigan is likely to revise its consumer confidence index upwards to 82.5 in May from 81.8 in April, according to forecasts. Elsewhere in the US will be data including personal spending and Chicago purchasing managers' index. Societe Generale, BNP Parabis Societe Generale slumped after Les Echos reported that the French bank's Russian unit posted a decline in first-quarter profit. BNP Parabis dropped on reports US authorities are seeking more than $10bn from the bank to settle investigations into dealings with sanctioned countries. The euro rose 0.07% to $1.3612. Brent crude futures fell $0.109 to $109.850 per barrel, according to the ICE. iPad mini worth £269 for new trading accounts! A minimum volume is required. Terms and conditions apply. Find out more, click here. US Market Report US close: Stocks dismiss GDP dip to rise higher - Indices gain despite worse-than-expected GDP - Analysts unfazed by weak growth numbers - Q2 expected to bounce back strongly Dow Jones Industrials: 0.40% Nasdaq Composite: 0.54% S&P 500: 0.54% US stocks rose on Thursday as negative economic growth figures were brushed off by expectations of a strongly rebounding second quarter and improved jobs data. The S&P 500 closed at a record high, up 0.54% to 1,920, while the Naddaq rose by the same proportion to 4,248 points and the DJIA climbed 0.4% higher to a 16,699 finish. This was in spite of a US gross domestic product (GDP) contracting by an annualised rate of 1% in the first three months of 2014, according to revised estimates by the Department of Commerce, representing the first quarterly contraction in three years. The figures surprised economists, whose consensus expectation was for the initial estimate of 0.1% growth to be revised lower to -0.5% and follows a 2.6% GDP expansion in the fourth quarter of 2013. The Bureau of Economic Analysis said the sharper-than-expected downwards revision was mainly due to lower private inventory investment than previously estimated, as well as the impact from poor weather. Despite the headline 'miss', the market reaction to the figures was relatively subdued, suggesting that a negative surprise was largely priced in. Daiwa analyst Michael Moran had a positive take on the data, saying that inventory investment had, in his view, been running at "an unsustainable pace and needed to slow further". The revised-down reading is within a more normal range "and thus the outlook for Q2 and beyond is a bit brighter". The GDP contraction was also "quite obviously" due to the severe winter, stressed Paul Ashworth, Chief US economist at Capital Economics, which hit durable goods consumption, residential investment, business investment in non-residential structures and exports. He flagged up that incoming monthly data already was pointing to a "marked turnaround" in the second quarter. "For those worried about a recession, it's worth remembering that employment increased by nearly 300,000 in April and jobless claims dropped to 300,000 last week. Those numbers point to a recovery gathering some real momentum at last." Another report showed US pending home sales fell 9.4% year-on-year in April following a 7.5% drop a month earlier. Economists had pencilled in an 8.7% decline. Tyson punches stocks higher - - GDP data surprises to the downside - Analysts unfazed by weak growth numbers Dow Jones Industrials: 0.40% Nasdaq Composite: 0.54% S&P 500: 0.54% US stocks rose on Thursday as negative economic growth figures were brushed off by expectations of a strongly rebounding second quarter and improved jobs data. The S&P 500 closed at a record high, up 0.54% to 1,920, while the Naddaq rose by the same proportion to 4,248 points and the DJIA climbed 0.4% higher to a 16,699 finish. This was in spite of a US gross domestic product (GDP) contracting by an annualised rate of 1% in the first three months of 2014, according to revised estimates by the Department of Commerce, representing the first quarterly contraction in three years. The figures surprised economists, whose consensus expectation was for the initial estimate of 0.1% growth to be revised lower to -0.5% and follows a 2.6% GDP expansion in the fourth quarter of 2013. The Bureau of Economic Analysis said the sharper-than-expected downwards revision was mainly due to lower private inventory investment than previously estimated, as well as the impact from poor weather. Despite the headline 'miss', the market reaction to the figures was relatively subdued, suggesting that a negative surprise was largely priced in. Daiwa analyst Michael Moran had a positive take on the data, saying that inventory investment had, in his view, been running at "an unsustainable pace and needed to slow further". The revised-down reading is within a more normal range "and thus the outlook for Q2 and beyond is a bit brighter". The GDP contraction was also "quite obviously" due to the severe winter, stressed Paul Ashworth, Chief US economist at Capital Economics, which hit durable goods consumption, residential investment, business investment in non-residential structures and exports. He flagged up that incoming monthly data already was pointing to a "marked turnaround" in the second quarter. "For those worried about a recession, it's worth remembering that employment increased by nearly 300,000 in April and jobless claims dropped to 300,000 last week. Those numbers point to a recovery gathering some real momentum at last." Another report showed US pending home sales fell 9.4% year-on-year in April following a 7.5% drop a month earlier. Economists had pencilled in an 8.7% decline. Tyson punches stocks higher In company news, Tyson's unsolicited bid for sausage-maker Hillshire Brands saw both stocks fly higher on Thursday. Meat packager Tyson bid $50 a share in cash for the meat producer, valuing its rival at $6.8bn, £5 a share higher than a recent bid for Hillshire from poultry specialist Pilgrim's Pride. Retailer Sears Holding rebounded on a pledge the company would close 80 stores this year, despite wider first-quarter losses and falling revenue. West Texas Intermediate was up 0.79% at $103.53. S&P 500 - Risers Sears Holdings Corp. (SHLD) $41.21 +7.77% Tyson Foods Inc. (TSN) $43.21 +6.04% Biogen Idec Inc. (BIIB) $319.65 +3.51% First Solar Inc. (FSLR) $63.39 +3.47% Netflix Inc. (NFLX) $415.15 +3.47% Pioneer Natural Resources Co. (PXD) $209.87 +3.40% McKesson Corp. (MCK) $188.53 +3.18% TripAdvisor Inc. (TRIP) $98.17 +3.13% Cliffs Natural Resources Inc. (CLF) $16.56 +3.08% Noble Corporation plc (NE) $31.35 +2.82% S&P 500 - Fallers Simon Property Group Inc. (SPG) $165.27 -6.06% eBay Inc. (EBAY) $50.07 -3.28% SLM Corp. (SLM) $8.56 -2.00% Dollar General Corp (DG) $53.58 -1.87% Mohawk Inds Inc. (MHK) $135.67 -1.62% Whole Foods Market Inc. (WFM) $38.10 -1.41% Applied Materials Inc. (AMAT) $20.26 -1.36% Intuit Inc. (INTU) $79.14 -1.25% St Jude Medical Inc. (STJ) $64.96 -1.22% M&T Bank Corp. (MTB) $120.63 -1.21% Dow Jones I.A - Risers Merck & Co. Inc. (MRK) $57.71 +2.32% Unitedhealth Group Inc. (UNH) $79.29 +0.90% Intel Corp. (INTC) $26.94 +0.88% E.I. du Pont de Nemours and Co. (DD) $68.98 +0.83% Microsoft Corp. (MSFT) $40.32 +0.77% 3M Co. (MMM) $142.34 +0.64% Travelers Company Inc. (TRV) $94.06 +0.64% Caterpillar Inc. (CAT) $103.57 +0.64% Boeing Co. (BA) $135.18 +0.63% Wal-Mart Stores Inc. (WMT) $76.00 +0.62% Dow Jones I.A - Fallers Goldman Sachs Group Inc. (GS) $160.63 -0.35% Chevron Corp. (CVX) $122.25 -0.22% Cisco Systems Inc. (CSCO) $24.66 -0.20% Verizon Communications Inc. (VZ) $49.69 -0.10% Pfizer Inc. (PFE) $29.60 -0.03% McDonald's Corp. (MCD) $101.29 -0.01% Nasdaq 100 - Risers Biogen Idec Inc. (BIIB) $319.65 +3.51% Netflix Inc. (NFLX) $415.15 +3.47% TripAdvisor Inc. (TRIP) $98.17 +3.13% Activision Blizzard Inc. (ATVI) $20.75 +2.04% Wynn Resorts Ltd. (WYNN) $219.91 +1.98% Twenty-First Century Fox Inc Class A (FOXA) $35.41 +1.81% Apple Inc. (AAPL) $635.31 +1.81% Autodesk Inc. (ADSK) $52.65 +1.80% Mylan Inc. (MYL) $49.74 +1.79% Priceline Group Inc (PCLN) $1,291.35 +1.68% Nasdaq 100 - Fallers Keurig Green Mountain Inc (GMCR) $112.33 -3.84% eBay Inc. (EBAY) $50.07 -3.28% Whole Foods Market Inc. (WFM) $38.10 -1.41% Applied Materials Inc. (AMAT) $20.26 -1.36% Intuit Inc. (INTU) $79.14 -1.25% Discovery Communications Inc. Class A (DISCA) $77.65 -1.08% Vertex Pharmaceuticals Inc. (VRTX) $72.72 -0.87% PACCAR Inc. (PCAR) $63.37 -0.77% Google Inc. (GOOGL) $570.80 -0.71% Still in the dark over active tax planning? Our planning experts can help you reduce your tax liability! Register here to quality for a FREE financial audit and hear about government approved allowances and existing opportunities available. Its politically correct tax planning for non-celebrities! Newspaper Round Up Friday newspaper round-up: US economy, Inequality, Smith & Nephew The US economy contracted sharply in the first quarter and bond yields have been falling at the fastest rate since the recession scare two years ago, in signs that bond tapering by the Federal Reserve is biting more than anticipated. The slowdown comes as a key indicator of the US money supply flashes slowdown warnings, though the picture remains murky after extreme weather conditions over the winter. – The Daily Telegraph The row over Thomas Piketty's bestselling book Capital in the 21st Century has taken a new twist after the journalist who said he had uncovered mistakes in the French economist's work was accused of making "serious errors" of his own. Analysis by the economic consultant Howard Reed published on the Guardian's datablog supported Piketty's view that inequality of wealth has been rising in recent years and dismissed the attack on some of the book's findings by the Financial Times journalist Chris Giles. – The Guardian Two of Britain's best-known FTSE 100 companies were firmly in the bid spotlight last night after Smith & Nephew and InterContinental Hotels Group replaced AstraZeneca as the blue-chip index's likeliest takeover candidates. S&N, Europe's largest maker of knee and hip joints, appeared to be "in play" for a takeover after Stryker, an American rival sitting on $4bn of cash, admitted it had considered making a bid for the group. – The Times The US is seeking more than $10bn from French bank BNP Paribas to settle charges it violated US sanctions on Iran, Sudan and Cuba, according to reports. BNP is locked in talks with the Justice Department, but the lender wants to pay less than $8bn, the Wall Street Journal claimed. Both numbers are far higher than earlier reports of less than $4bn, and would smash the $1.9bn fine HSBC was hit with in 2012 for routinely handling money transfers for countries under sanctions and for Mexican drug traffickers. – The Daily Telegraph Sir Philip Green is to return to the stock market for the first time in more than a quarter of a century after an Australian online retailer confirmed its intention to float. The retail tycoon has paid £48m for a 25% stake in MySale, a flash sale website selling fashion, beauty and toys for thousands of brands, in one of his biggest deals since buying Arcadia Group in 2002. MySale, which bills itself as the leading flash sale business in Asia Pacific, plans to raise £40m through selling new shares on the Alternative Investment Market in mid-June. – The Times Corporate lending by Britain's biggest banks collapsed this year, dealing a crushing blow to policymakers' recent efforts to improve the supply of credit for businesses. Loans made through the Bank of England's Funding for Lending Scheme fell by £2.7bn in the three months to April, sparking widespread disappointment. – The Times   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. 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