| | | | | | | | | |
| | London Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | London open: Stocks slip as investors digest earnings, Barclays rises - Barclays rises as investors digest wave of corporate earnings
- Russian sanctions, Gaza and Argentina in focus
- US economic data, Fed decision due out later on
techMARK 2,785.48 +0.12%
FTSE 100 6,797.66 -0.15%
FTSE 250 15,671.08 -0.10%
UK markets opened slightly lower on Wednesday as investors digested a wave of corporate earnings and cautiously awaited economic data and a policy decision Stateside later on.
Meanwhile, traders were still watching developments in the Ukraine crisis after US and EU leaders announced a fresh round of sanctions on Russia yesterday. Relentless fighting in Gaza and a potential debt default in Argentina were also likely to be weighing on risk appetite.
The FTSE 100 was trading down 0.2% at 6,798 in early trading as strong gains from Barclays, Travis Perkins and AstraZeneca were offset by falls from Antofagasta, ITV and Tullow Oil.
After a relatively quiet start to the week macro-wise, things will pick up today with a flurry of economic indicators due out during the morning session, including Eurozone confidence data and Germany inflation.
However, the focus is likely to be on the US later on with the closely-watched ADP employment report and second-quarter gross domestic product (GDP) estimates due out before the opening bell on Wall Street, and the Federal Reserve's policy decision scheduled for this evening.
Angus Campbell, Senior Analyst at FxPro, said that the GDP figures are "like to move the market most - this is because tonight's [[Fed meeting] does not include a press conference and so there's unlikely to be any changes to what we saw or heard last month".
Barclays leads banks higher
Barclays was a high riser this morning as it reported a less-than-expected 12% fall in total income adjusted for insurance claims for the first half to £13.32bn, driven by reductions at its investment and African banking units. The consensus estimate had been for a drop to £13.23bn.
Domestic banking peers RBS and Lloyds were also on the rise.
Housebuilder Travis Perkins also impressed as it reported double-digit growth across the board in the first half, with like-for-like revenues up 10.2% and profits up 16%. The company said it expects "continued solid growth" for the rest of the year.
Astrazeneca was in demand after it struck a deal with drug developer Almirall for the rights to the Spanish group's respiratory franchise. The initial consideration is $875m,
Chile-focused mining group Antofagasta underwhelmed as it maintained its production guidance for 2014 after a sequential increase in output in the second quarter, while net cash costs were broadly flat.
Shares of broadcaster ITV were in negative territory with the stock retreating after its recent strong run. Nevertheless, the company managed to beat expectations with its first-half results this morning with pre-tax profits up 16%.
Also lower was Tullow Oil as it dropped into the red in the first half of 2014, after exploration write-offs more than doubled. Tullow reported a loss before tax of $29m in the first six months of the year, compared with a profit of $486m in the first half of 2013. |
| FTSE 100 - Risers
Barclays (BARC) 226.35p +3.31%
Travis Perkins (TPK) 1,679.00p +2.07%
Severn Trent (SVT) 1,955.00p +0.93%
AstraZeneca (AZN) 4,353.00p +0.71%
Royal Bank of Scotland Group (RBS) 356.20p +0.62%
Capita (CPI) 1,222.00p +0.58%
Carnival (CCL) 2,139.00p +0.56%
BT Group (BT.A) 389.00p +0.52%
Reckitt Benckiser Group (RB.) 5,245.00p +0.48%
Vodafone Group (VOD) 203.70p +0.39%
FTSE 100 - Fallers
Antofagasta (ANTO) 838.00p -1.99%
Sainsbury (J) (SBRY) 318.40p -1.52%
GKN (GKN) 360.60p -1.48%
CRH (CRH) 1,442.00p -1.44%
Compass Group (CPG) 994.00p -1.39%
WPP (WPP) 1,196.00p -0.99%
Rio Tinto (RIO) 3,441.00p -0.98%
TUI Travel (TT.) 364.50p -0.84%
Morrison (Wm) Supermarkets (MRW) 173.10p -0.80%
Sports Direct International (SPD) 687.50p -0.79%
FTSE 250 - Risers
Pets at Home Group (PETS) 182.30p +7.24%
Riverstone Energy Limited (RSE) 925.00p +2.21%
IP Group (IPO) 195.90p +2.14%
Dignity (DTY) 1,408.00p +1.88%
Perform Group (PER) 211.00p +1.78%
National Express Group (NEX) 261.00p +1.68%
Diploma (DPLM) 635.50p +1.68%
Fisher (James) & Sons (FSJ) 1,337.00p +1.60%
Taylor Wimpey (TW.) 116.40p +1.57%
BTG (BTG) 616.00p +1.48%
FTSE 250 - Fallers
Vedanta Resources (VED) 1,057.00p -3.03%
Jupiter Fund Management (JUP) 406.70p -2.02%
Investec (INVP) 525.50p -1.78%
Pace (PIC) 355.90p -1.66%
Betfair Group (BET) 1,026.00p -1.63%
Beazley (BEZ) 254.30p -1.59%
Rotork (ROR) 2,767.00p -1.53%
Spectris (SXS) 1,931.00p -1.48%
International Personal Finance (IPF) 577.50p -1.45% |
| | Invest in the fast growing Mobile App market! | | An tax efficient opportunity from Appbox Media to invest in an industry that grew 115% in 2013, and is expected to reach revenues of $63.5bn by 2017. Investor Report, Click Here. |
| | UK Event Calendar | | Wednesday July 30
INTERIMS
4Imprint Group, Aer Lingus Group, British American Tobacco, Dignity, First Quantum Minerals Ltd., Greggs, Foxtons, Hrvatske Telekom D.D GDR (Reg S), International Personal Finance, ITV, Jupiter Fund Management , Moneysupermarket.com Group, New Europe Property Investments, Rightmove, Riverstone Energy Limited , SEGRO, Smurfit Kappa Group, Tarsus Group, Taylor Wimpey, Travis Perkins, Tullow Oil
INTERIM DIVIDEND PAYMENT DATE
CQS Diversified Fund Ltd Ord NPV £
INTERIM EX-DIVIDEND DATE
Blackrock Throgmorton Trust, Fenner, Frenkel Topping Group, Jiasen International Holdings Ltd, McColl's Retail Group , Microgen, Nichols, Porvair
QUARTERLY EX-DIVIDEND DATE
City of London Inv Trust
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Business Climate Indicator (EU) (10:00)
Crude Oil Inventories (US) (15:30)
Economic Sentiment Indicator (EU) (10:00)
FOMC Interest Rate (US) (19:00)
GDP (Advance) (US) (13:30)
MBA Mortgage Applications (US) (12:00)
Q2
First Quantum Minerals Ltd.
GMS
Mirada, Scotgold Resources (DI), Societatea Nationala De Gaze Naturale Romgaz S.A. GDR (Reg S)
FINALS
Better Capital Pcc Ltd (2009)
IMSS
3i Group, Atkins (WS), Compass Group, Diploma
DRILLING REPORT
Antofagasta, Polymetal International, Vedanta Resources
EGMS
Forte Energy NL, Global Ports Investments GDR (REG S), Societatea Nationala De Gaze Naturale Romgaz S.A. GDR (Reg S)
AGMS
Atkins (WS), Aurasian Minerals , CML Microsystems, Cropper (James), Fastjet, Kibo Mining, Montanaro UK Smaller Companies Inv Trust, Northern 2 VCT, RENN Universal Growth Investment Trust, Sepura, Sepura, SerVision, Stallion Resources , Westside Investments
FINAL DIVIDEND PAYMENT DATE
Helical Bar, Norcros, Record, Rensburg AIM VCT
FINAL EX-DIVIDEND DATE
Infinis Energy, Investec, Latham (James), Redcentric
|
| | Earn 24% ROI per annum... | | Our low entry lucrative Oil Investment opportunity in USA could earn you 24% ROI per annum!
Request your free Oil investment brochure here |
| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks little changed ahead of Fed announcement - Fed policy decision in focus
- US GDP, jobs data due
- Eurozone confidence reports to be released
- EU imposes more sanctions on Russia
FTSE 100: -0.11%
DAX: -0.06%
CAC 40: -0.42%
FTSE MIB: -0.25%
IBEX 35: 0.18%
Stoxx 600: -0.19%
European stocks were little changed as investors awaited the Federal Reserve's policy decision.
The central bank is expected to shave $10bn off monthly bond purchases to $25bn and keep interest rates unchanged when it wraps up its two-day meeting after Europe markets close.
A report from ADP is expected to show US employers added 230,000 jobs in July following 281,000 jobs in June. It comes ahead of the official government monthly job figures on Friday.
The Fed is monitoring the labour market closely to gauge the health of the world's biggest economy to help decide when to increase interest rates.
Elsewhere in the US will be the release of gross domestic product figures for the second quarter.
In the euro-area this morning, reports on Eurozone economic and consumer confidence is due along with German inflation data.
Investors will also be keeping an eye on developments in Ukraine after the European Union imposed further sanctions on Russia for its role in the insurgency in the country.
Airbus soars
Airbus rallied as the French company said first-half earnings increased on the back of its commercial plane unit delivering more aircraft.
Schneider Electric retreated after posting first-half adjusted earnings before interest, taxes and amortisation that missed analysts' estimates.
HeidelbergCement slumped as the world's third-largest maker of cement said second-quarter operating income before depreciation declined.
Banco Bilbao Vizcaya Argentaria gained after posting second-quarter net income that exceeded market forecasts.
The euro fell 0.03% to $1.3405.
Brent crude futures rose 0.065% to $107.79 per barrel, according to the ICE. |
| | Swissquote offers CFD Trading, an efficient mean of trading indices, commodities and currencies. | | You can trade on the market whether you think it will go UP or Down! Think the DAX will go Down? Short the DAX… Try CFD Trading with a Free Practice Account losses can exceed your deposit.
|
| | US Market Report | | US close: Stocks slip as Russia sanctions weigh - US stocks fall, three main indices down
- New EU and US sanctions on Russia
- US house prices growth less than expected
- Twitter earnings spark 35%-plus rise in after-market trade
Dow Jones Industrials: -0.42%
Nasdaq Composite: -0.04%
S&P 500: -0.45%
Equity markets were slightly jittery on Tuesday as the White House and Europe ratcheted up economic sanctions on Russia, with Wednesday's looming Federal Reserve policy decision also imposing itself on traders' minds.
Mid-session the European Union (EU) agreed to impose new sanctions on Russia for its involvement in the fighting in Ukraine, with measures to prevent Russian banks from accessing European capital markets or taking loans from their European peers, as well as restrictions on access to sensitive technology and equipment for the oil industry.
Washington later added to its own current measures, releasing a list of Russian banks that were to be prevented from transactions with Americans, including the Bank of Moscow, the Russian Agricultural Bank and VTB Bank.
"Today, Russia is once again isolating itself from the international community," President Barack Obama said, calling on his counterpart Vladimir Putin to accept a diplomatic solution rather than increasingly tougher sanctions.
Barclays analysts argued the intensification of sanctions by the EU and the US appears to have been widely anticipated by markets, but the US indices argued otherwise.
House prices rise
Earlier, fresh US house price data showed the an annual rate of growth had slowed to 9.3% in May from 10.8% in April, according to the Case-Shiller 20-city composite index. Analysts had expected a 9.9% increase.
The US Conference Board's consumer confidence index for the month of July jumped to a reading of 90.9 from 86.4 in the month before (consensus: 85.4).
Fed head Janet Yellen and colleagues are monitoring market data closely to gauge the health of the US economy ahead of its policy announcement. The central bank is expected to shave a further $10bn off monthly bond purchases and keep interest rates unchanged.
Pharmaceuticals boost
Two sectors recently singled out by Yellen as overvalued, biotech and social media, topped and tailed the day's trading with strong market performances.
Twitter earnings smashed expectations, sending the shares fluttering 35% higher in after-market trading. The micro-blogging site lifted revenue 124% over the year before to $312m in the second quarter, with earnings of 2 cents per share exceeding the small loss that had been forecast.
Although a bit beyond merely biotech, big pharma pair Merck and Pfizer produced bumper results that gave the market an early shot in the arm.
Merck's profits more than doubled in its second quarter, rising from $906m to $2bn. On an adjusted per-share basis, earnings totalled 85 cents, above the 81 cents expected. Sales fell 1% to $10.93bn but still beat forecasts.
Fellow drug-maker Pfizer also rose initially after surpassing analysts' predictions with its second-quarter results. However, gains were only limited as the company lowered its revenue guidance for the full year on the back of pressure from competition by generics.
The 10-year government yield fell three basis points to 2.46%, following a solid result to the afternoon's Treasury auction of $35bn in 5-year debt.
West Texas Intermediate dropped 0.7% to $100.97 per barrel.
S&P 500 - Risers
Frontier Communications Co. (FTR) $6.79 +14.31%
Windstream Holdings Inc (WIN) $11.83 +12.35%
Masco Corp. (MAS) $21.71 +7.10%
CenturyLink Inc. (CTL) $39.90 +5.81%
Darden Restaurants Inc. (DRI) $46.88 +4.36%
Waste Management Inc. (WM) $45.59 +3.87%
Whole Foods Market Inc. (WFM) $37.68 +3.15%
Wynn Resorts Ltd. (WYNN) $217.41 +3.05%
Peabody Energy Corp. (BTU) $15.56 +2.71%
AT&T Inc. (T) $36.59 +2.64%
S&P 500 - Fallers
Corning Inc. (GLW) $20.00 -9.30%
Eaton Corporation plc (ETN) $70.51 -8.13%
Eastman Chemical Co. (EMN) $81.52 -8.06%
Harris Corp. (HRS) $68.15 -5.83%
GameStop Corp. (GME) $43.43 -5.75%
United Parcel Service Inc. (UPS) $98.86 -3.70%
Aetna Inc. (AET) $81.88 -3.47%
Tyson Foods Inc. (TSN) $39.17 -3.43%
Parker-Hannifin Corp. (PH) $117.74 -3.25%
Jacobs Engineering Group Inc. (JEC) $52.37 -2.91%
Dow Jones I.A - Risers
AT&T Inc. (T) $36.59 +2.64%
E.I. du Pont de Nemours and Co. (DD) $66.20 +1.35%
Merck & Co. Inc. (MRK) $58.58 +1.05%
Verizon Communications Inc. (VZ) $51.97 +0.76%
Caterpillar Inc. (CAT) $104.69 +0.52%
McDonald's Corp. (MCD) $95.82 +0.04%
Dow Jones I.A - Fallers
Unitedhealth Group Inc. (UNH) $84.27 -1.73%
United Technologies Corp. (UTX) $107.33 -1.52%
Pfizer Inc. (PFE) $29.73 -1.23%
Walt Disney Co. (DIS) $86.20 -1.09%
3M Co. (MMM) $144.02 -1.04%
JP Morgan Chase & Co. (JPM) $58.64 -0.93%
Travelers Company Inc. (TRV) $91.12 -0.83%
Coca-Cola Co. (KO) $40.35 -0.81%
Cisco Systems Inc. (CSCO) $25.71 -0.81%
Exxon Mobil Corp. (XOM) $103.55 -0.79%
Nasdaq 100 - Risers
Whole Foods Market Inc. (WFM) $37.68 +3.15%
Wynn Resorts Ltd. (WYNN) $217.41 +3.05%
Express Scripts Holding Co (ESRX) $67.28 +2.09%
Gilead Sciences Inc. (GILD) $92.99 +1.67%
Linear Technology Corp. (LLTC) $45.01 +1.65%
Biogen Idec Inc. (BIIB) $341.73 +1.59%
Costco Wholesale Corp. (COST) $118.90 +1.52%
Staples Inc. (SPLS) $11.08 +1.28%
Bed Bath & Beyond Inc. (BBBY) $63.03 +1.19%
Catamaran Corp (CTRX) $45.14 +1.05%
Nasdaq 100 - Fallers
Expeditors International Of Washington Inc. (EXPD) $43.67 -2.65%
Baidu Inc. (BIDU) $220.00 -2.57%
PACCAR Inc. (PCAR) $63.50 -2.02%
CH Robinson Worldwide Inc (CHRW) $64.41 -1.83%
Activision Blizzard Inc. (ATVI) $22.96 -1.75%
Vimpelcom Ltd Ads (VIP) $8.26 -1.67%
Facebook Inc. (FB) $73.71 -1.62%
Maxim Integrated Products Inc. (MXIM) $29.77 -1.59%
Liberty Interactive Corp (LINTA) $28.53 -1.35% |
| | 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 |
| | Newspaper Round Up | | Wednesday newspaper round-up: Sanctions, Centrica, Microsoft... EU governments have agreed to impose sweeping sanctions on Russia, targeting state-owned banks, imposing an arms embargo and restricting sales of sensitive technology and the export of equipment for the country's oil industry, in response to Moscow's continued backing for separatists in eastern Ukraine. The punitive measures, the most extensive EU sanctions imposed on Russia since the cold war, were agreed by ambassadors from the 28 member states after a seven-hour debate.. - The Guardian
Attempts to defuse public anger over energy bosses' pay by appointing a new, cheaper, chief executive at British Gas were widely criticised yesterday. Sam Laidlaw, who was entitled to up to £6.9 million if he hit all performance targets, is quitting sooner than expected after eight years at the top of Centrica, which owns Britain's biggest household energy supplier. Last year he forfeited his bonus and earned less than £2 million. - The Times
China confirmed that it had launched an anti-monopoly investigation into Microsoft, plunging the business environment for western companies into a new realm of uncertainty. The investigation into the American software giant, which involved a series of raids on its largest offices in China on Monday, is thought to be part of a Beijing-led drive to reduce the swagger of foreign companies and to improve the competitiveness of their Chinese rivals as broader economic growth fades. - The Times
Labour has resurrected plans for a 15 per cent "death tax" to pay for people's care in old age. Andy Burnham, the shadow health secretary, said he wants Labour to "embrace" a system where social care is funded by imposing a tax on estates when people die. Labour abandoned plans for a 10 per cent levy on estates to pay for social care before the 2010 general election following a wave of criticism. - The Telegraph
The Serious Fraud Office is assessing whether there is sufficient evidence to mount a criminal investigation against staff at Lloyds for defrauding taxpayers. The state-backed lender was fined £218million on Monday for manipulating Libor and for a scam which enabled it to gain access to a Government lifeline scheme more cheaply during the financial crisis. - The Daily Mail
Bond yields have fallen to the lowest level in modern history in Germany, France and the eurozone's core states, signalling a high risk of deflation and mounting concerns about sanctions against Russia. The yield on German 10-year bonds fell to a record low of 1.11pc in intra-day trading, partly on safe-haven flows. French yields dropped in tandem to 1.5pc. These levels are far below rates hit during the 1930s or even during the deflationary episodes of the 19th Century. - The Telegraph
Argentina is on the brink of its second debt default since the turn of the century, as hopes fade that last-minute talks will hammer out a deal with "vulture fund" bondholders. Argentinian officials met a US mediator in New York in the latest chapter of a decade-long debt battle with hedge funds that bought up the country's bonds at rock-bottom prices in the wake of its financial crisis in 2001 and 2002. - The Guardian | | |
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