| | | | | | | | | |
| | London Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | London open: FTSE falls, Smiths and Tullow drag, elections in focus - Smiths and Tullow disappoint
- FTSE opens 16 points lower
- Ukraine, European elections in focus
techMARK 2,741.75 -0.09%
FTSE 100 6,801.45 -0.28%
FTSE 250 15,657.08 -0.11%
The FTSE opened lower this morning, falling around 16 points in the first hour of trade, weighed by disappointing announcements from Smiths Group and Tullow Oil.
Investors are also easing back ahead of the Bank Holiday weekend, the presidential elections in Ukraine and the elections for the European Parliament.
David White at SpreadEx said: "Asian stocks once again traded higher overnight, with the Nikkei up almost 1% as the China Shenzhen inflated 0.4%. Precious metals and energies are largely unchanged, as Brent crude oil holds the $110 level.
"Here in London the FTSE 100 has opened largely unchanged, down by just a few points. The same can be said for other European indices. Closing out a positive week for large-cap stock indices will help establish a somewhat positive tone against the typical 'sell in May' mantra, though it is early yet. Later today investors will turn to how risk appetite fairs into the weekend, using the US open and the performance of Treasuries as a gauge."
Giving a morning technical view, Mike van Dulken, Head of Research at Accendo Markets, commented to its clients this morning: "The 6820 breakout on the one-week chart failed at 6850, which has seen a retrace back to round number 6800. This could lead to a revisit of the lows of 6765 before we make another move higher.
"The one-month and three-month charts hint at this with their falling highs and channels. Support available via the intersecting trendline from end-Feb which would help keeping us in the upper end of the recent range and the uptrend alive. The longer term chart shows potentially further to fall for a true consolidation. Long weekends in the US and UK may be taken as an excuse for some risk to be taken off the table."
LSE jumps after broker upgrade
In company news, London Stock Exchange raced ahead after Goldman Sachs upgraded it from 'sell' to 'neutral'.
Standard Life rose on the news it has appointed a new Chief Financial Officer. Luke Savage, who will take up the position from August 18th, is described as a "leading industry executive with extensive experience of insurance and investment services".
A joint venture of bus and train operator Go-Ahead and a company part-owned by French state railway SNCF has won the battle to run the new Thameslink rail super-franchise in London and south-east England, sending shares in the FTSE 250-listed group soaring. Govia, which currently runs the Southern, Southeastern and London Midland franchises, has secured the deal to run the enlarged Thameslink, Southern and Great Northern (TSGN) franchise.
However, First Group slumped after missing out.
BTG soared on the news it has been granted clearance for its EkoSonic Endovascular System treatment of pulmonary embolism (PE) by the US Food and Drug Administration (FDA). The minimally invasive treatment carries out the ultrasound-facilitated, controlled and selective infusion of physician-specified fluids, including thrombolytics, for the treatment of PE.
Meanwhile, x-ray scanner and medical equipment maker Smiths Group fell to the bottom of the pile after it unveiled weaker revenue as tough trading in its detection and medical businesses spoilt a good performance at its John Crane energy services operation. Smiths said underlying revenue in the nine months to May 3rd would be slightly lower than in the same period a year ago due to issues in detection, which makes security scanners for airports, and medical, which makes surgical devices.
Tullow Oil shares also dropped after it said the Shimela-1 well, onshore Ethiopia, has encountered water bearing reservoirs and that only traces of thermogenic gas shows were recorded after drilling to a final depth of 1,940 metres. |
| | 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 £250 Million worldwide. The opportunity allows UK investors to offset considerable tax liabilities. Click Here |
| FTSE 100 - Risers
Sports Direct International (SPD) 780.00p +1.43%
London Stock Exchange Group (LSE) 1,829.00p +1.11%
Rexam (REX) 531.50p +0.85%
WPP (WPP) 1,272.00p +0.55%
SSE (SSE) 1,548.00p +0.39%
Mondi (MNDI) 1,056.00p +0.38%
Sainsbury (J) (SBRY) 343.80p +0.38%
Randgold Resources Ltd. (RRS) 4,525.00p +0.33%
GKN (GKN) 385.20p +0.31%
Standard Life (SL.) 394.30p +0.31%
FTSE 100 - Fallers
Smiths Group (SMIN) 1,273.00p -3.19%
Smith & Nephew (SN.) 941.50p -1.52%
Tullow Oil (TLW) 839.50p -1.41%
Morrison (Wm) Supermarkets (MRW) 202.80p -1.02%
Whitbread (WTB) 4,109.00p -0.96%
SABMiller (SAB) 3,340.00p -0.95%
Compass Group (CPG) 993.50p -0.85%
Next (NXT) 6,605.00p -0.83%
Persimmon (PSN) 1,329.00p -0.82%
Rio Tinto (RIO) 3,204.00p -0.81%
FTSE 250 - Risers
Go-Ahead Group (GOG) 2,109.00p +8.77%
BTG (BTG) 570.00p +4.20%
COLT Group SA (COLT) 140.50p +2.55%
Dechra Pharmaceuticals (DPH) 714.50p +2.36%
Crest Nicholson Holdings (CRST) 346.60p +1.64%
Partnership Assurance Group (PA.) 126.76p +1.41%
Fidessa Group (FDSA) 2,226.00p +1.37%
Paragon Group Of Companies (PAG) 386.60p +1.18%
Dairy Crest Group (DCG) 432.90p +1.17%
Perform Group (PER) 268.00p +1.13%
FTSE 250 - Fallers
FirstGroup (FGP) 130.00p -3.56%
Halfords Group (HFD) 474.80p -2.70%
Infinis Energy (INFI) 200.00p -1.96%
Computacenter (CCC) 608.50p -1.70%
Genus (GNS) 1,061.00p -1.67%
Investec (INVP) 502.00p -1.67%
Home Retail Group (HOME) 189.10p -1.66%
Electrocomponents (ECM) 276.20p -1.57%
Imagination Technologies Group (IMG) 217.30p -1.54% |
| | UK Event Calendar | | INTERIM DIVIDEND PAYMENT DATE
AB Dynamics
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
IFO Business Climate (GER) (09:00)
IFO Current Assessment (GER) (09:00)
IFO Expectations (GER) (09:00)
New Homes Sales (US) (15:00)
Retail sales (IT) (09:00)
Business confidence (BE) (14:00)
GMS
Coral Products, Helphire Group
FINALS
Quintain Estates & Development
ANNUAL REPORT
Scottish Mortgage Inv Trust
IMSS
Close Brothers Group, Smiths Group
AGMS
Cathay International Holdings Ltd., Essenden, HSBC Holdings, Informa, IS Solutions, Kings Arms Yard VCT, MD Medical Group Investments GDR (Reg S), Moss Bros Group, Robert Walters, Total Produce, Toumaz Limited, Vernalis, Vimetco NV GDR (Reg S)
FINAL DIVIDEND PAYMENT DATE
African Barrick Gold , Antofagasta, BBA Aviation, Bovis Homes Group, Charles Taylor, Churchill China, Dunedin Enterprise Investment Trust, esure Group, Fidelity European Values, H.R. Owen, Kentz Corporation Ltd., Merchants Trust, Mithras Inv Trust, Morgan Sindall Group, National Express Group, Paddy Power, Petrofac Ltd., Playtech, Portmeirion Group, Powerflute Oyj (DI), Reed Elsevier, RPS Group, STV Group, Vesuvius, Xchanging |
| | 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: Greek and Spanish debt upgraded by ratings agencies - Eurosceptics on backfoot in Holland and France
- Fighting flares up in Ukraine
- Fitch upgrades Greece´s debt rating
- S&P upgrades Spain´s debt rating
FTSE 100: -0.19%
DAX: -0.16%
CAC 40: -0.07%
FTSE MIB: -0.17%
IBEX 35: -0.35%
Stoxx 600: -0.16%
The main European equity benchmarks all slipped quickly into the red early on Friday morning, despite the gains seen overnight on Wall Street, as traders geared up for this weekend´s results of the European parliamentary elections and amidst reports of a flare up in fighting between Ukrainian military and pro-Russian militants.
Acting as a backdrop, a high ranking Russian military officer reportedly warned that his country would have to take steps if NATO continued to build up its presence near its borders.
On the positive side of the things, initial reports indicated that Eurosceptic parties may have lost some ground in France and the Netherlands.
The German IFO Institute was due to release its German business confidence index for the month of May at 09:00.
Overnight Fitch raised its rating on Greece´s sovereign long-term bonds by one notch to B, from B-, although that continues to be five levels below investment grade.
In parallel, Standard&Poor´s improved the Kingdom of Spain´s debt rating to BBB from BBB-.
Swiss employment firm Adecco was an early riser after UBS upgraded the stock to a 'buy' from 'sell' beforehand.
From a sector standpoint the best performing industrial groups on the DJ Stoxx 600 were: Telecommunications (-0.51%), Retail (-0.40%) and Food (-0.39%).
German gross domestic product expanded at an 0.8% quarter-on-quarter clip during the first three months of the year, as expected.
Euro slightly lower
The euro fell 0.05% to $1.3650.
Brent crude futures were edging higher by 0.072% to $110.44 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 rise on higher US and Chinese manufacturing - Factory activity picks up in US and China
- New weekly jobless claims rise
- Hewlett Packard's revenue falls for 11th quarter in a row
Dow Jones: +0.06%
Nasdaq: +0.55%
S&P 500: +0.21%
Wall Street advanced on Thursday as higher US manufacturing activity and upbeat housing market news eclipsed news of a rise in weekly jobless claims.
The Dow Jones Industrial Average finished 10.02 points or 0.06% higher as more US home resales in April and housing supplies at their highest level since August 2012 sparked hopes of a housing market boost.
Existing home sales in April came to 4.65m, up from 4.59m in the previous month, but under the 4.69m consensus.
New claims for unemployment benefits rose above expectations in the week ended May 17th but stayed near 7-year lows.
Housing stocks rose and the Nasdaq advanced on a rally in biotech shares.
Separate data showed US manufacturing activity increased in May. Markit's preliminary purchasing managers' index (PMI) climbed to 56.2 this month from 55.4 in April, beating analysts' estimates of 55.5. A reading above 50 signals expansion.
In China, the HSBC manufacturing PMI rose to 49.7 points in May, a five-month high, from 48.1 in April, topping a forecast of 48.3.
HP, Twitter, Goldman
Hewlett Packard fell after posting a worse-than-expected 1% fall in second quarter revenue in a shrinking PC market and announced plans to cut 16,000 more jobs. It had originally planned to shed a total of 34,000 jobs.
Twitter declined following news its directors and top executives are holding onto shares they own.
Goldman Sachs rallied after agreeing to sell its New York Stock Exchange market-making unit to IMC Financial Markets.
Chinese online retailer JD.com raised $1.78bn in its US initial public offering after pricing the shares above the marketed range.
The US 10-year yield rose 0.02 points or 0.78% to 2.55%.
S&P 500 - Risers
Salesforce.Com Inc. (CRM) $53.27 +6.14%
Vertex Pharmaceuticals Inc. (VRTX) $71.18 +6.00%
NetApp Inc. (NTAP) $36.16 +4.84%
Dollar Tree Inc (DLTR) $53.31 +4.28%
CME Group Inc. (CME) $71.34 +4.12%
Best Buy Co. Inc. (BBY) $26.22 +3.43%
Biogen Idec Inc. (BIIB) $299.69 +3.42%
First Solar Inc. (FSLR) $60.63 +3.41%
E*TRADE Financial Corp. (ETFC) $20.44 +3.39%
Facebook Inc. (FB) $60.52 +3.35%
S&P 500 - Fallers
Lorillard Inc. (LO) $59.51 -4.98%
Patterson Companies Inc. (PDCO) $39.23 -4.39%
Edwards Lifesciences Corp. (EW) $81.40 -4.21%
Peabody Energy Corp. (BTU) $17.50 -3.05%
CareFusion Corp. (CFN) $41.98 -2.35%
Hewlett-Packard Co. (HPQ) $31.78 -2.28%
Target Corp. (TGT) $55.99 -2.12%
Reynolds American Inc. (RAI) $58.53 -2.07%
TJX Companies Inc. (TJX) $55.47 -2.00%
Range Resources Corp. (RRC) $88.91 -1.95%
Dow Jones I.A - Risers
Cisco Systems Inc. (CSCO) $24.38 +1.08%
Nike Inc. (NKE) $74.88 +0.90%
Home Depot Inc. (HD) $78.78 +0.90%
Unitedhealth Group Inc. (UNH) $78.34 +0.80%
JP Morgan Chase & Co. (JPM) $54.55 +0.79%
Boeing Co. (BA) $131.84 +0.67%
Verizon Communications Inc. (VZ) $49.45 +0.57%
E.I. du Pont de Nemours and Co. (DD) $67.51 +0.43%
American Express Co. (AXP) $88.15 +0.33%
Goldman Sachs Group Inc. (GS) $159.85 +0.31%
Dow Jones I.A - Fallers
Coca-Cola Co. (KO) $40.58 -0.71%
Microsoft Corp. (MSFT) $40.10 -0.62%
Exxon Mobil Corp. (XOM) $101.50 -0.52%
Chevron Corp. (CVX) $123.63 -0.43%
International Business Machines Corp. (IBM) $185.68 -0.38%
Wal-Mart Stores Inc. (WMT) $75.39 -0.36%
Visa Inc. (V) $209.37 -0.35%
3M Co. (MMM) $140.31 -0.25%
Intel Corp. (INTC) $26.15 -0.19%
Johnson & Johnson (JNJ) $100.96 -0.18%
Nasdaq 100 - Risers
Vertex Pharmaceuticals Inc. (VRTX) $71.18 +6.00%
NetApp Inc. (NTAP) $36.16 +4.84%
Dollar Tree Inc (DLTR) $53.31 +4.28%
Biogen Idec Inc. (BIIB) $299.69 +3.42%
Facebook Inc. (FB) $60.52 +3.35%
TripAdvisor Inc. (TRIP) $91.01 +3.23%
Baidu Inc. (BIDU) $163.53 +3.23%
Sirius XM Holdings Inc (SIRI) $3.27 +3.15%
Alexion Pharmaceuticals Inc. (ALXN) $160.48 +2.97%
Catamaran Corp (CTRX) $44.30 +2.90%
Nasdaq 100 - Fallers
Activision Blizzard Inc. (ATVI) $20.53 -1.44%
Mondelez International Inc. (MDLZ) $37.29 -0.90%
eBay Inc. (EBAY) $51.50 -0.89%
Microsoft Corp. (MSFT) $40.10 -0.62%
Monster Beverage Corp (MNST) $69.36 -0.60%
Tractor Supply Company (TSCO) $63.59 -0.59%
Verisk Analytics Inc. (VRSK) $60.63 -0.59%
Charter Communications Inc. (CHTR) $138.17 -0.57%
Broadcom Corp. (BRCM) $30.15 -0.50% |
| | 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: UKip, IPOs, Royal Mail Labour admitted Ukip had caused "mayhem" last night as early results in council elections pointed to a big swing towards Nigel Farage's party in its heartlands. The Eurosceptics made huge gains across the country, halting Labour's hoped for gains and taking seats off the Conservatives. Ed Miliband's aides blamed a collapse in the Conservative and Liberal Democrat votes as they braced themselves for embarrassing defeats in traditional strongholds such as Hull. But they also admitted that Labour was losing votes directly to the Ukip insurgency with one Labour MP attacking his own party's campaign as "unforgivably unprofessional". - The Times
A rush of company listings created the busiest day for London's IPO market since 2007, despite intensifying fears that investor appetite is waning. The flotation frenzy came as property website Zoopla, high street discounter B&M Bargains, low–cost carrier Wizz Air and advisory firm River and Mercantile Group all unveiled plans to list on the London stock exchange. - The Daily Telegraph
Royal Mail has warned that postal deliveries to rural areas are under threat because rivals are being allowed to cherry pick easy and profitable deliveries in towns and cities without having to run services to isolated homes such as on Scottish islands. After the furore over its sell-off last year, which sparked accusations the soaring share price at the float had effectively lost the taxpayer £750m in a day, the company issued its warning on Thursday over the universal service obligation as it reported a 12% rise in operating profits to £671m. - The Guardian
Britain's huge debt interest bill remains on course to hit £1bn a week this year, after official data showed the Goverment borrowed £3bn more in April than forecast by analysts. Public sector net borrowing excluding one-off payments related to Royal Mail's pension plan and quantitative easing gilt coupon transfers, stood at £11.5bn in April, according to the Office for National Statistics (ONS). This was £1.9bn higher than in April 2013, and much higher than the £8.4bn expected by analysts. - The Daily Telegraph
AstraZeneca is coming under pressure from investors to consider inviting Pfizer back to the negotiating table as early as August. As the prospect of a £69bn deal being struck before the deadline on Monday fades rapidly, it emerged that BlackRock, the world's biggest money manager and AstraZeneca's leading shareholder, had told the British group's board that its rejection of a £55-a-share bid proposal from its American rival had been right. However, in a sign that AstraZeneca's shareholders are keen to keep the prospects of a merger alive, BlackRock also suggested that the board should consider renewing negotiations in three months' time. - The Times
Lloyds bank will next week begin the process of selling 25% of its TSB business through a stock market flotation by end-June, sources revealed yesterday. It is understood that the TSB share sale will be for less than its book value – the basic value of the assets – of £1.5bn, meaning that the bank will take a loss on the sale. - Scotsman | | |
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