Evening Euro Markets Bulletin

ADVFN III Evening Euro Markets Bulletin Daily world financial news Friday, 29 August 2014 17:37:14 Monitor Quote Charts News CFD's Spreadbetting Free BB   Sponsored by: Trendsignal Your complimentary trading guide Make a consistent income with this simple trading strategy. For your free guide click here. London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London close: FTSE ends higher after data-heavy day - FTSE 100 closes up 13.95 at 6,819.75 - UK consumer confidence up - House prices inch higher techMARK 2,851.08 +0.17% FTSE 100 6,819.75 +0.20% FTSE 250 15,885.72 -0.16% The biggest London-listed stocks ended the week on an upbeat note after data-heavy session around for the UK, the Eurozone and the US. The FTSE 100 closed 13.95 points at 6,819.75. Data out in the UK showed that while British consumer confidence rose this month, rises are starting to flatten out and people are uncertain about their prospects. The overall score in the GfK UK Consumer Confidence Index increased by three points to a positive reading of one in August from -2 in July and -13 a year ago. GfK said the index was entering a period of stability after several months of almost constant increase. House prices inched just 0.1% higher in August, according to Hometrack's monthly national housing survey. It was the second consecutive month that the gap between supply and demand narrowed, with the number of new buys down 0.9%, although this was largely due to seasonal factors. That came as Home Secretary Theresa May said the UK terror threat level was raised from "substantial" to "severe" in the wake of ongoing conflicts in Syria and Iraq. The new alert level, the second highest on the UK threat level scale, means Britain is "highly likely" to be subject to a terrorist organisation offence, though the home secretary stressed nothing suggested an attack was "imminent". Meanwhile, across the Channel Eurozone consumer prices slowed to a 0.3% year-on-year rate of change in August, after a reading of 0.4% in the month before, as expected, according to figures from Eurostat. That followed flat economic growth in the euro-area during the second quarter as activity levels in Germany came off sharply. Speaking to Bloomberg TV earlier in the day, German finance minister Wolfgang Schaeuble insisted that the ECB can only "buy time" with its monetary policy, emphasising the need for structural economic reforms. In the US, household purchases dropped 0.1% following a 0.4% increase in June. Analysts had predicted a 0.2% rise. "The 0.1% rise in real disposable personal income is also a bit disappointing, but at least it comes after some rapid gains in the first half of the year," Capital Economics said. "We expect that income growth will accelerate as employment rises further and wage growth picks-up. If so, then consumption growth should soon rise." The University of Michigan's consumer confidence index climbed to 82.4 in August in the final report, up from a preliminary reading of 79.2 and ahead of consensus expectations of 80.1. The median inflation expectation over the next year fell 0.2 percentage points (pp) to 3.4% and by 0.1pp to 2.9% for the next five to 10 years. British banks to review 2.5m PPI complaints, FCA says Back in the UK, the Financial Conduct Authority (FCA) has told banks to reassess payment protection insurance (PPI) complaints they've ignored or underpaid. The complaints, worth a total of about £2.5m, were rejected between the end of 2012 and the beginning of 2013, mainly due to technicalities in the assessment criteria, the FCA said in a statement on Friday. However, the UK's financial regulator has deemed the number of complaints reject to be too high and has instructed lenders to review some of the cases. Supermarkets lead downside Shares in Tesco fell sharply on Friday after the supermarket giant announced it expects profits to fall by as much as 27% this year and its interim dividend to be cut by 75%. New boss Dave Lewis, who due to take over from Philip Clarke, will now join the group one month earlier than planned on 1 September. Sector peers Sainsbury and Morrison were also both under pressure. United Utilities was in the red after it was revealed customers in England and Wales can expect their water bills to drop about 5% between 2015 and 2020 in real terms as part of Ofwat's price review. The news was announced as part of the draft determinations published by the water regulator in response to the latest business plans submitted by water companies. Drinks giant SABMiller fell despite announcing that its wholly-owned subsidiary, Sabsa, has completed the sale of its stake in Tsogo Sun through the placing of 293,896 shares and the sale of 7.78m shares. Tsogo Sun also repurchased the company's remaining 133.58m shares. Altogether, the disposal generated around $1bn. Meanwhile, Astrazeneca shares jumped after it was reported that the group's treatment for colorectal cancer had advanced to the next phase in testing. Take advantage of a booming US state... Get $27,500 return in 2 years with a secure exit and no stress. An opportunity to invest securely into the increasing infrastructure of North Dakota Register your details here to receive the FREE brochure FTSE 100 - Risers Fresnillo (FRES) 962.00p +2.29% AstraZeneca (AZN) 4,567.00p +1.95% RSA Insurance Group (RSA) 458.20p +1.91% St James's Place (STJ) 717.00p +1.85% Randgold Resources Ltd. (RRS) 5,085.00p +1.60% Imperial Tobacco Group (IMT) 2,627.00p +1.47% Ashtead Group (AHT) 979.50p +1.29% Anglo American (AAL) 1,530.00p +1.16% 3i Group (III) 393.20p +1.08% Reckitt Benckiser Group (RB.) 5,250.00p +1.06% FTSE 100 - Fallers Tesco (TSCO) 229.95p -6.64% Morrison (Wm) Supermarkets (MRW) 177.50p -5.03% Sainsbury (J) (SBRY) 290.30p -4.35% CRH (CRH) 1,397.00p -2.03% Marks & Spencer Group (MKS) 429.90p -1.87% United Utilities Group (UU.) 877.00p -1.35% easyJet (EZJ) 1,335.00p -1.33% Reed Elsevier (REL) 982.50p -1.11% Smith & Nephew (SN.) 1,043.00p -1.04% G4S (GFS) 265.00p -0.97% FTSE 250 - Risers Bwin.party Digital Entertainment (BPTY) 90.30p +12.66% Enterprise Inns (ETI) 125.00p +4.17% Entertainment One Limited (ETO) 354.50p +3.99% Direct Line Insurance Group (DLG) 298.90p +3.35% Ophir Energy (OPHR) 234.60p +3.35% Vedanta Resources (VED) 1,011.00p +2.90% Kazakhmys (KAZ) 296.90p +2.41% Close Brothers Group (CBG) 1,353.00p +2.04% COLT Group SA (COLT) 146.70p +2.02% Brit (BRIT) 257.70p +1.86% FTSE 250 - Fallers Exova Group (EXO) 193.00p -10.23% Perform Group (PER) 203.80p -4.59% Xaar (XAR) 420.00p -4.33% RPS Group (RPS) 278.10p -3.90% Ocado Group (OCDO) 328.30p -3.24% Thomas Cook Group (TCG) 124.80p -3.11% Domino Printing Sciences (DNO) 579.50p -3.01% Cranswick (CWK) 1,327.00p -2.78% Bodycote (BOY) 695.00p -2.73% Telecom Plus (TEP) 1,457.00p -2.67% A New and Unique approach to Wine Investment... Our algorithm offers a unique relative-value assessment of wine investment, and has led to a demonstrable track record of significantly outperforming the market! Don't believe us? See for yourself, here Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe close: Stocks mixed as Eurozone inflation slows - Eurozone inflation slows - German retail sales rise - US consumer spending falls FTSE 100: 0.20% DAX: 0.08% CAC 40: 0.34% FTSE MIB: 0.54% IBEX 35: 0.06% Stoxx 600: 0.28% European stocks were mixed after inflation slowed in August, adding pressure on the European Central Bank (ECB) to take action to boost recovery. Consumer prices in the euro-area rose 0.3% year-on-year following a 0.4% increase in July. At the so-called 'core' level, which strips out the most volatile items, such as energy, food, alcohol and tobacco, the rate of inflation edged slightly higher, to a 0.9% year-on-year clip (consensus: 0.8%), compared to 0.8% the month before. "While the overall inflation reading was 0.3% for the month, core inflation was 0.9% which suggests the inflation problem is abating and the only thing driving the main consumer price index reading lower is temporary volatile factors such as fuel prices," said Alpari UK analyst Craig Erlam. "Given the number of stimulus measures announced by the ECB a few months ago, it's difficult to know what exactly is helping lift the inflation number, but I imagine the more than eight cent drop in the euro against the dollar, from $1.40 to below $1.32, is contributing." ECB President Mario Draghi last Friday hinted at the possibility of full-on quantitative easing to address weak inflation. However, German finance minister Wolfgang Schaeuble told newspaper Passauer Neue Presse this week that Draghi's comments about fiscal policy had been "overinterpreted". He also told Bloomberg in a televised interview that ECB monetary policy "can only buy time" and Europe is in need of structural reform. Elsewhere in Europe on Friday, the jobless rate remained at 11.5% in August, as predicted by analysts. German retail sales rose 0.7% in July following a revised 0.1% increase in June, missing expectations for a 1.5% gain. US data US household purchases dropped 0.1% following a 0.4% increase in June. Analysts had predicted a 0.2% rise. The University of Michigan's consumer confidence index climbed to 82.4 in August in the final report, up from a preliminary reading of 79.2 and ahead of consensus expectations of 80.1. The median inflation expectation over the next year fell 0.2 percentage points (pp) to 3.4% and by 0.1pp to 2.9% for the next five to 10 years. The Chicago purchasing managers' index (PMI) for manufacturing activity was revised higher to 56.5 in August from an initial reading of 52.6, beating expectations' of 64.3. Tesco slides on profit warning Tesco declined after lowering its full-year profit forecast and its interim dividend. AstraZeneca advanced as UBS said the pharmaceutical firm's treatment for colorectal cancer has moved to the next stage of testing. D'Ieteren retreated after posting first-half pre-tax profit that feel short of analysts' forecasts. The euro fell 0.20% to $1.3156. Brent crude futures climbed 0.33% to $102.80 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 open: Stocks little changed on mixed US data US stocks were little changed as investors digested US data that showed a fall in personal spending and a rise in consumer confidence. US household purchases dropped 0.1% following a 0.4% increase in June. Analysts had predicted a 0.2% rise. "The 0.1% rise in real disposable personal income is also a bit disappointing, but at least it comes after some rapid gains in the first half of the year," Capital Economics said. "We expect that income growth will accelerate as employment rises further and wage growth picks-up. If so, then consumption growth should soon rise." The University of Michigan's consumer confidence index climbed to 82.4 in August in the final report, up from a preliminary reading of 79.2 and ahead of consensus expectations of 80.1. The median inflation expectation over the next year fell 0.2 percentage points (pp) to 3.4% and by 0.1pp to 2.9% for the next five to 10 years. "Overall, consumer confidence remains in the relatively tight range it has occupied this year and is consistent with continued moderate growth in consumer spending," Barclays Research said. The Chicago purchasing managers' index (PMI) for manufacturing activity was revised higher to 56.5 in August from an initial reading of 52.6, beating expectations' of 64.3. Avago, Pacific Sunwear Avago Technologies, a semiconductor-device supplier, advanced after it reported quarterly earnings that beat estimates. Clothing retailer Pacific Sunwear of California dropped after forecasting losses in the third quarter that were worse than expected. Veeva Systems advanced as the provider of cloud-based business services lifted its year-end earnings prediction after posting second-quarter earnings that exceeded forecasts. iPad mini worth £269 for new trading accounts! A minimum volume is required. Terms and conditions apply. Find out more, click here. Broker Tips Arrow Global: Numis shifts target price from 285p to 287p and leaves its add rating unchanged. Berendsen: Oriel raises target price from 1130p to 1243p keeping a buy recommendation. British Polythene Industries: Investec ups target price from 720p to 750p reiterating a buy recommendation. bwin.party: Canaccord Genuity lowers target price from 112p to 100p retaining a hold recommendation. Peel Hunt places its target price (prev.: 110p) under review keeping a hold recommendation. Chesnara: Canaccord Genuity ups target price from 320p to 335p and maintains a hold recommendation. Creston: Sanlam initiates with a target price of 150p and a buy recommendation. CSR: Liberum Capital raises target price from 680p to 800p, while downgrading to hold. Debenhams: N+1 Singer lowers target price from 85p to 80p, while upgrading to buy. Goldenport: Panmure Gordon reduces target price from 700p to 550p staying with its buy recommendation. Gulf Keystone Petroleum: Deutsche Bank lowers target price from 145p to 140p and reiterates a buy recommendation. Hays: Investec ups target price from 150p to 170p and maintains a buy recommendation. RBC Capital moves target price from 140p to 150p and retains an outperform rating. HSBC Holdings: UBS raises target price from 645p to 715p upgrading from neutral to buy. Hunting: Canaccord Genuity downgrades from buy to hold with a target price of 950p. UBS increases target price from 800p to 900p leaving its neutral rating unaltered. Deutsche Bank raises target price from 950p to 1000p maintaining a buy recommendation. Informa: Westhouse Securities downgrades from add to neutral with a target price of 554p. Kazakhmys: UBS ups target price from 350p to 370p upgrading from neutral to buy. Man Group: Liberum Capital shifts target price from 119p to 120p, while downgrading to hold. Marshalls: Peel Hunt shifts target price from 195p to 200p and keeps a buy recommendation. Playtech: UBS ups target price from 750p to 780p retaining a buy recommendation. Restaurant Group: Numis ups target price from 725p to 760p, while downgrading from buy to add. Victoria: Cantor Fitzgerald raises target price from 240p to 290p and stays with its buy recommendation. Whitbread: Deutsche Bank increases target price from 4170p to 4567p and keeps a hold recommendation. Xaar: FinnCap reduces target price from 600p to 450p, while leaving its hold recommendation unchanged. Numis downgrades from add to hold with a target price of 450p.   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

Morning Euro Markets Bulletin

ADVFN  Morning Euro Markets Bulletin Daily world financial news Friday, 29 August 2014 09:40:08 Monitor Quote Charts News CFD's Spreadbetting Free BB   Sponsored by: Trendsignal Your complimentary trading guide Make a consistent income with this simple trading strategy. For your free guide click here. 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 spate of economic indicators - Eurozone CPI data due out - US activity indicators expected later in the day - Weak Japanese economic figures techMARK 2,854.37 +0.28% FTSE 100 6,821.60 +0.21% FTSE 250 15,909.75 -0.01% UK stocks were registering only slight gains in the early going ahead of the release of the latest Eurozone inflation numbers and a spate of high-frequency data which are due for release later on Stateside. An hour after the start of trading the FTSE 100 was edging 16 points higher to 6,821.75. Economists expect Eurozone consumer prices to have slowed to a 0.3% year-on-year rate of change in August, after a reading of 0.4% in the month before. That follows flat economic growth in the euro area during the second quarter as activity levels in Germany came off sharply. Speaking to Bloomberg TV German finance minister Wolfgang Schaeuble insisted that the European Central Bank can only "buy time" with its monetary policy, emphasising the need for structural economic reforms. Acting as a backdrop, according to images released by Nato on Thursday, Russian armed forces did indeed enter Ukrainian territory, claims that Russia had denied. Weaker than expected data out of Japan Meanwhile, overnight data released from Japan indicated the country had suffered a second month of weakness, offering what Alpari market analyst Joshua Mahony described as "yet another glimpse of the economy at a time where markets want to know if there is enough juice in the system for the Bank of Japan to reach their [inflation] targets, along with the question of whether the sales tax continues to drag the economy down following it's introduction in April". Industrial output in the land of the rising sun grew at a 0.2% month-on-month clip in July, well below the 1% gain which analysts had pencilled in. Household spending contracted by 5.9% year-on-year in July, almost twice the expected rate of decline. Housing market showing signs of slowdown House prices inched just 0.1% higher in August, according to Hometrack's monthly national housing survey. It was the second consecutive month that the gap between supply and demand narrowed, with the number of new buys down 0.9%, although this was largely due to seasonal factors. The narrowing meant that although average house prices continued to rise, the upward pressure was reduced. "This is increasing the amount of time properties are spending on the market and resulting in sellers having to accept larger discounts to the asking price to achieve a sale," Hometrack explained. Building society Nationwide offered a more upbeat assessment, with UK house prices up by 0.8% month-on-month (11% year-on-year) versus forecasts for a rise of 10.1%. Tesco anticipates profit fall of up to 27% The pressure is on for new boss Dave Lewis at Tesco after the struggling grocery giant said on Friday that it expects profits to fall by as much as 27% this year and its interim dividend to be cut by 75%. Lewis, due to take over from Philip Clarke who announced his resignation in July, will now join the group one month earlier than planned on 1 September. Sabsa, a wholly-owned subsidiary of drinks giant SABMiller, has completed the sale of its stake in Tsogo Sun through the placing of 293,896 shares and the sale of 7.78m shares. Tsogo Sun also repurchased the company's remaining 133.58m shares. Altogether, the disposal generated around $1bn. Road and rail haulier Stobart Group reported satisfactory trading in all its divisions, with biomass tonnages up in its energy division and higher passenger numbers in its airport business. But profits in its energy business were lower as a result of competition from exports and the end of a transport contract in February. Gaming giant Bwin.party widened its first-half loss, reflecting a fall in casino and poker revenues. Loss before tax in the six months to 30 June 2014 came to €94m, up from €11.6 the previous year. Revenue declined to €317.1m from €342.5m as a solid performance from sports betting was offset by year-on-year declines in casino and poker. Computacenter posted higher first-half profits and a good UK performance, but the IT services provider flagged up challenges in France and Germany. Computacenter said adjusted pre-tax profit in the six months to 30 June rose 6.8% to £28m on a 2.2% rise in revenue to £1.46bn FTSE 100 - Risers AstraZeneca (AZN) 4,584.00p +2.33% RSA Insurance Group (RSA) 455.20p +1.25% St James's Place (STJ) 712.50p +1.21% 3i Group (III) 393.70p +1.21% Hargreaves Lansdown (HL.) 1,129.00p +1.07% CRH (CRH) 1,441.00p +1.05% Sports Direct International (SPD) 727.50p +1.04% Fresnillo (FRES) 950.00p +1.01% Aberdeen Asset Management (ADN) 436.00p +1.00% Lloyds Banking Group (LLOY) 76.93p +0.85% FTSE 100 - Fallers Tesco (TSCO) 230.05p -6.60% Sainsbury (J) (SBRY) 291.60p -3.92% Morrison (Wm) Supermarkets (MRW) 180.40p -3.48% Marks & Spencer Group (MKS) 426.50p -2.65% United Utilities Group (UU.) 880.50p -0.96% Next (NXT) 7,080.00p -0.84% Hammerson (HMSO) 608.00p -0.82% easyJet (EZJ) 1,343.00p -0.74% Royal Mail (RMG) 446.30p -0.62% Admiral Group (ADM) 1,331.00p -0.60% FTSE 250 - Risers Bwin.party Digital Entertainment (BPTY) 82.90p +3.43% Direct Line Insurance Group (DLG) 294.50p +1.83% Lancashire Holdings Limited (LRE) 627.00p +1.46% Vedanta Resources (VED) 995.50p +1.32% Ophir Energy (OPHR) 230.00p +1.32% Kazakhmys (KAZ) 293.70p +1.31% AL Noor Hospitals Group (ANH) 1,139.00p +1.24% Ferrexpo (FXPO) 131.50p +1.15% Enterprise Inns (ETI) 121.20p +1.00% Hays (HAS) 133.20p +0.99% FTSE 250 - Fallers Exova Group (EXO) 194.00p -9.77% Afren (AFR) 91.10p -8.44% CSR (CSR) 749.50p -3.91% Berendsen (BRSN) 1,060.00p -2.75% Ocado Group (OCDO) 330.60p -2.56% Poundland Group (PLND) 310.00p -2.52% Brown (N.) Group (BWNG) 440.80p -2.24% Perform Group (PER) 209.20p -2.06% AO World (AO.) 217.90p -1.76% Take advantage of a booming US state... Get $27,500 return in 2 years with a secure exit and no stress. An opportunity to invest securely into the increasing infrastructure of North Dakota Register your details here to receive the FREE brochure UK Event Calendar A New and Unique approach to Wine Investment... Our algorithm offers a unique relative-value assessment of wine investment, and has led to a demonstrable track record of significantly outperforming the market! Don't believe us? See for yourself, here Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe open: Stocks rally ahead of Eurozone inflation data - Eurozone inflation in focus - Euro-area jobless rate due - ECB monetary policy can only buy time, says Schaeuble FTSE 100: 0.24% DAX: 0.41% CAC 40: 0.38% FTSE MIB: 0.91% IBEX 35: 0.42% Stoxx 600: 0.37% European stocks gained ahead of the release of Eurozone inflation figures. Eurozone consumer prices are expected to rise 0.3% year-on-year in August following a 0.4% increase a month earlier, moving further away from the European Central Bank's (ECB) target of just under 2%. A further weakening in inflation will add pressure on the ECB to take further measures to address price instability. ECB President Mario Draghi last Friday hinted at the possibility of full-on quantitative easing. However, German finance minister Wolfgang Schaeuble told newspaper Passauer Neue Presse this week that Draghi's comments about fiscal policy had been "overinterpreted". He also told Bloomberg in a televised interview that ECB monetary policy "can only buy time" and Europe is in need of structural reform. As policymakers closely watch the health of the euro-area economy, Thursday's release of the Eurozone unemployment rate will be high on the agenda. It is expected to hold at 11.5% in July. In the US later on attention will turn to US personal consumption expenditure figures, the Chicago purchasing managers' index and the University of Michigan's consumer confidence report. Geopolitical tensions in Syria and Ukraine will continue to be monitored after the crises escalated on Wednesday. In company news, AstraZeneca advanced as UBS said the pharmaceutical firm's treatment for colorectal cancer has moved to the next stage of testing. Tesco declined after lowering its full-year profit forecast and its interim dividend. The euro fell 0.09% to $1.3170. Brent crude futures rose 0.37% to $102.85 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 fall on Ukraine tensions, GDP, jobs data - Focus on Ukraine-Russia crisis - US GDP grew 4.2% - Jobless claims fall 1,000 Dow -0.25% 17,080 Nasdaq -0.25% 4,558 S&P 500 -0.16% 1,997 US stocks ended lower on Thursday as investors reacted to both the latest developments in the Ukraine-Russia crisis and better-than-expected data. The second estimate for US gross domestic product (GDP) showed that the American economy grew by an annualised rate of 4.2% in the second quarter. It was higher than the initial estimate of 4% growth in the advance report and surprised analysts who had expected a small downwards revision to 3.9%. It also marked a strong-than-expected rebound from the 2.1% contraction registered in the first three months of the year. "These figures confirm the strength of the US economy, and judging by recent figures, it is not going to run out of momentum any time soon," said Nancy Curtin, the chief investment officer at Close Brothers Asset Management. "While sluggish wage growth remains a key consideration for the Fed, the employment figures continue to show the strength of the labour market [...] The prospect of a change in monetary tightening is one cloud on the horizon, but it should not be a cause for undue concern." In other economic data on Thursday, US initial jobless claims fell by 1,000 to 298,000 in the week to 23 August, under the 300,000 consensus forecast. The previous week's level was revised up by 1,000 to 299,000. Meanwhile, the four-week moving average fell by 1,250 to 299,750. Tensions mount in Ukraine as Nato releases According to images released by Nato, Russian armed forces did enter Ukranian territory, claims which Russia had denied. Earlier on Thursday, Ukrainian officials said Russian forces had entered the country and helped local separatists capture the coastal town of Novoazovsk in south-eastern Ukraine. Ukrainian president Petro Poroshenko said in a televised statement from Kiev on Thursday that he had convened an emergency meeting with his military chiefs as "the introduction of Russian forces into Ukraine has taken place". That came as it was claimed the quality and volume of supply of arms by Russia has increased. Williams-Sonoma, Abercrombie, Visa In company news, Williams-Sonoma declined after its third-quarter earnings forecast missed analysts' estimates. Abercrombie & Fitch Co. dropped as second-quarter sales fell more than analysts had projected. Guess? slumped after the retailer cut its annual earnings forecast. Visa Inc. was also in the red after it was downgraded by Raymond James to 'market perform'. TripAdvisor was also a notable faller. S&P 500 - Risers Pall Corp. (PLL) $83.44 +3.37% Goodyear Tire & Rubber Co. (GT) $25.75 +2.51% Chesapeake Energy Corp. (CHK) $26.96 +2.01% Broadcom Corp. (BRCM) $39.17 +1.73% Best Buy Co. Inc. (BBY) $32.20 +1.61% Monster Beverage Corp (MNST) $87.94 +1.61% Seagate Technology Plc (STX) $62.12 +1.53% Staples Inc. (SPLS) $11.66 +1.52% CMS Energy Corp. (CMS) $30.40 +1.35% Cabot Oil & Gas Corp. (COG) $33.35 +1.34% S&P 500 - Fallers Garmin Ltd. (GRMN) $54.15 -5.76% United States Steel Corp. (X) $37.53 -3.84% Intuitive Surgical Inc. (ISRG) $465.47 -2.76% First Solar Inc. (FSLR) $69.12 -2.68% TripAdvisor Inc. (TRIP) $99.28 -2.46% Salesforce.Com Inc. (CRM) $58.29 -2.17% Diamond Offshore Drilling Inc. (DO) $43.77 -2.06% Peabody Energy Corp. (BTU) $15.66 -1.94% Fossil Group Inc (FOSL) $100.61 -1.84% Halliburton Co. (HAL) $67.32 -1.70% Dow Jones I.A - Risers Home Depot Inc. (HD) $92.51 +0.70% E.I. du Pont de Nemours and Co. (DD) $66.11 +0.27% Cisco Systems Inc. (CSCO) $24.84 +0.16% Microsoft Corp. (MSFT) $44.90 +0.06% Coca-Cola Co. (KO) $41.62 +0.05% Caterpillar Inc. (CAT) $108.58 +0.03% Chevron Corp. (CVX) $128.65 +0.01% Dow Jones I.A - Fallers Nike Inc. (NKE) $78.74 -1.23% Visa Inc. (V) $214.64 -1.15% Boeing Co. (BA) $127.03 -0.91% JP Morgan Chase & Co. (JPM) $59.15 -0.74% McDonald's Corp. (MCD) $94.06 -0.62% Merck & Co. Inc. (MRK) $59.98 -0.50% Travelers Company Inc. (TRV) $94.29 -0.50% General Electric Co. (GE) $26.01 -0.46% Intel Corp. (INTC) $34.65 -0.43% Pfizer Inc. (PFE) $29.38 -0.37% Nasdaq 100 - Risers Nxp Semiconductors Nv (NXPI) $66.91 +2.09% Broadcom Corp. (BRCM) $39.17 +1.73% Monster Beverage Corp (MNST) $87.94 +1.61% Seagate Technology Plc (STX) $62.12 +1.53% Staples Inc. (SPLS) $11.66 +1.52% Gilead Sciences Inc. (GILD) $107.52 +1.18% NetApp Inc. (NTAP) $41.97 +1.00% Maxim Integrated Products Inc. (MXIM) $31.14 +0.94% Tractor Supply Company (TSCO) $67.13 +0.93% Intuit Inc. (INTU) $83.37 +0.88% Nasdaq 100 - Fallers Garmin Ltd. (GRMN) $54.15 -5.76% Intuitive Surgical Inc. (ISRG) $465.47 -2.76% TripAdvisor Inc. (TRIP) $99.28 -2.46% Google Inc. Class C (GOOG) $568.57 -1.61% Whole Foods Market Inc. (WFM) $39.17 -1.58% Vimpelcom Ltd Ads (VIP) $8.75 -1.57% Keurig Green Mountain Inc (GMCR) $134.44 -1.55% Google Inc. (GOOGL) $579.35 -1.49% Cognizant Technology Solutions Corp. (CTSH) $45.47 -1.42% Express Scripts Holding Co (ESRX) $73.79 -1.24% iPad mini worth £269 for new trading accounts! A minimum volume is required. Terms and conditions apply. Find out more, click here. Newspaper Round Up Friday newspaper round-up: AA, Iron ore prices, Ocado... Shareholder groups last night warned of a corporate governance breakdown at the AA after chief executive Chris Jansen resigned two months after its stock market float. The roadside assistance firm decided its boardroom was not big enough for both Jansen and executive chairman Bob Mackenzie, who led a management buy-in that accompanied the float. [...] But groups that advise shareholders on how to exercise their voting power said the AA, which has 13m members, was lagging behind other listed firms in the way it handles its obligation to investors. - The Daily Mail London-listed mining groups are facing a $30bn (£18bn) loss of revenue from a collapse in the iron ore price as Chinese growth slows more sharply than expected and mine output increases at the fastest rate on record. The benchmark iron ore price fell to a two-year low of $87 per tonne yesterday, down 36pc this year having opened at around $140 per tonne in January. Fears are now increasing that the iron ore price could slump to fresh five-year lows, undermining the profits of some of Britain's biggest listed companies. - The Telegraph Strong criticism of Ocado's business model led to £375 million being wiped off its value yesterday. Redburn, an independent equity broker, said that sales at the online grocer were not growing fast enough and were "unlikely to do so soon". In a further blow, Redburn warned that the group's much-vaunted technology — a robotic system used to pick and move containers in its warehouses — was "less unique than we previously thought". - The Times The gap between house sellers' asking prices and the amounts buyers are willing to pay is widening amid growing signs the market is cooling, the property analyst Hometrack has reported. Sellers in England and Wales typically achieved 95.9% of their asking price in August, falling back for the third month in a row from 96.8% in May. - The Guardian Pernod Ricard yesterday offered a glimmer of hope for recovery in its key Chinese market as Scotland's second biggest distiller's annual results were scarred by a slowdown in the Far East and adverse currency movements. Alexandre Ricard, group deputy chief executive, said although trading remained challenging "we anticipate a gradual improvement in our sales growth" in the current financial year. - The Scotsman Royal Dutch Shell could resurrect its controversial plan to drill for oil in the Alaskan Arctic after filing new plans with the US government. The FTSE-100 listed company put all work in the region on hold earlier this year after a series of incidents, including the grounding of the Kulluk rig in December 2012. On Thursday night Shell submitted a proposal to the Interior Department that would see it set up two rigs in the Shuckchi Sea, which is hoped could yield more than 400,000 barrels of oil a day. - The Telegraph Wind, solar and other renewable power capacity grew at its strongest ever pace last year and now produces 22% of the world's electricity, the International Energy Agency said on Thursday in a new report. More than $250bn (£150bn) was invested in "green" generating systems in 2013, although the speed of growth is expected to slacken, partly because politicians are becoming nervous about the cost of subsidies. - 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

Evening Euro Markets Bulletin

ADVFN III Evening Euro Markets Bulletin Daily world financial news Thursday, 28 August 2014 17:48:42 Monitor Quote Charts News CFD's Spreadbetting Free BB   Sponsored by: Trendsignal Your complimentary trading guide Make a consistent income with this simple trading strategy. For your free guide click here. London Market Report FTSE 100 Euronext Dax perf CAC 40 Please click on the images to view our interactive charts London close: Footsie falls on economic uncertainty and political woes - Nato says Russia puts troops on ground in Ukraine - ECB uncertainty and UK lending figures dampen sentiment - CSR jumps on takeover hopes - Xaar plummets on weak guidance techMARK 2,846.33 +0.05% FTSE 100 6,805.80 -0.36% FTSE 250 15,910.86 -0.71% The London market ended Thursday on a low note as investors faced with a relative lack of corporate news were left to mull over weak European economic data and renewed geopolitical tensions. The FTSE 100 Index retreated from an eight-week high on Thursday to stand 24.86 points adrift at 6805.8. Analysts said fears about no extra stimulus from the European Central Bank (ECB) in its upcoming meeting compounded weak German inflation and unemployment data. But speculation that the ECB would still unleash quantitative easing (QE) - or printing money to buy assets - was kept alive by data showing a further slowing in lending to Eurozone households and companies in July. There was a similar picture in the UK where fresh Bank of England data on its Funding for Lending (FLS) scheme showed a £435m fall in net lending to £4.8bn between April and June, coming after the first quarter's £719m fall. Tensions in Ukraine escalated after Nato officials said more than a thousand Russian soldiers had entered the country. President Petro Poroshenko called for an emergency security meeting as pro-Russian rebels continued to take more ground in the south-east of the country. "An invasion of Russian forces has taken place," he said. In UK corporate news, miners were falling after gains yesterday, with Rio Tinto dropping 3.8% to 3209p, BHP Billiton backtracking 2.8% to 1891p, Antofagasta off 2.2% at 790p and Glencore losing 1.7% to 360.5p. Precious metal producers Randgold Resources and Fresnillo, however, were bucking the trend with rises of 64p to 5005p and 12p to 940.5p respectively as gold and silver prices rose on the back of safe-haven demand. Oil and gas explorer Tullow Oil gushed 1.4% to 731p as it announced several successful drilling results from a series of exploration, appraisal and testing activities conducted in blocks in Kenya. The tills were also ringing at supermarket group William Morrison, which rose 2.5p to 186.9p after an upbeat report about August retail sales from the Confederation of British Industry. Morrisons also got a boost from an upgrade by Deutsche Bank from 'sell' to 'hold'. Rival Tesco, however, reversed 3p to 246.3p after a downgrade from 'buy' to 'hold'. Elsewhere, cigarette machinery maker Molins wafted 23.5p or 14.75 lower to 136p after the AIM-listed stock reported tough trading and order delays in core markets such as the Middle East and central and eastern Europe. Wireless technology group CSR jumped 205p or 35.6% to 780p after it confirmed rumours that the firm is considering a sale. According to the Financial Times, the UK chipmaker has received takeover offers from a number of rival semiconductor manufacturers and could fetch a price of as much as $3bn, compared with Wednesday's closing price of $1.57bn. Xaar, the inkjet printing technology firm, saw shares sink 121p or 21.6% to 439p after a weakening in third-quarter sales cast a further pall over already-disappointing interim results, with full-year expectations downgraded. BP was trading lower after a fire broke out at its largest US refinery on Wednesday night. Nevertheless, the company said that operations at the Whiting refinery "were minimally impacted as a result of the incident and the refinery continues to produce products for customers". Afren was also in the red after saying it has suspended two more directors in relation to further "unauthorised payments". The firm last month suspended its chief executive and chief operating officer. Take advantage of a booming US state... Get $27,500 return in 2 years with a secure exit and no stress. An opportunity to invest securely into the increasing infrastructure of North Dakota Register your details here to receive the FREE brochure FTSE 100 - Risers CRH (CRH) 1,426.00p +2.00% Tullow Oil (TLW) 731.00p +1.39% Morrison (Wm) Supermarkets (MRW) 186.90p +1.36% BT Group (BT.A) 388.00p +1.36% Randgold Resources Ltd. (RRS) 5,005.00p +1.30% Fresnillo (FRES) 940.50p +1.29% Hammerson (HMSO) 613.00p +1.07% Rexam (REX) 506.00p +0.90% National Grid (NG.) 896.50p +0.90% AstraZeneca (AZN) 4,479.50p +0.69% FTSE 100 - Fallers Hargreaves Lansdown (HL.) 1,117.00p -4.86% Rio Tinto (RIO) 3,209.00p -3.79% St James's Place (STJ) 704.00p -3.56% Anglo American (AAL) 1,512.50p -3.54% BHP Billiton (BLT) 1,891.00p -2.80% Petrofac Ltd. (PFC) 1,123.00p -2.26% Antofagasta (ANTO) 790.00p -2.23% Carnival (CCL) 2,235.00p -2.10% Sports Direct International (SPD) 720.00p -2.04% Glencore (GLEN) 360.50p -1.70% FTSE 250 - Risers CSR (CSR) 780.00p +35.65% Playtech (PTEC) 712.00p +7.39% Imagination Technologies Group (IMG) 216.10p +6.04% DCC (DCC) 3,552.00p +2.75% Infinis Energy (INFI) 220.70p +2.13% IP Group (IPO) 212.90p +2.11% Hays (HAS) 131.90p +1.93% Dunelm Group (DNLM) 889.00p +1.83% Ted Baker (TED) 1,939.00p +1.78% Hunting (HTG) 910.00p +1.73% FTSE 250 - Fallers Xaar (XAR) 439.00p -21.61% Ocado Group (OCDO) 339.30p -15.93% Afren (AFR) 99.50p -9.95% International Personal Finance (IPF) 512.00p -6.31% Spectris (SXS) 1,942.00p -5.27% Domino Printing Sciences (DNO) 597.50p -4.86% Cairn Energy (CNE) 181.40p -4.78% Ferrexpo (FXPO) 130.00p -4.69% Vedanta Resources (VED) 982.50p -4.33% Enterprise Inns (ETI) 120.00p -4.15% FTSE TechMARK - Risers XP Power Ltd. (DI) (XPP) 1,600.00p +2.56% Anite (AIE) 94.00p +1.90% DRS Data & Research Services (DRS) 16.75p +1.52% NCC Group (NCC) 217.25p +1.40% E2V Technologies (E2V) 154.38p +1.40% Phoenix IT Group (PNX) 92.25p +1.37% Dialight (DIA) 926.00p +1.20% Gresham Computing (GHT) 117.00p +0.86% RM (RM.) 159.00p +0.63% KCOM Group (KCOM) 99.00p +0.51% FTSE TechMARK - Fallers Oxford Biomedica (OXB) 3.38p -10.00% Skyepharma (SKP) 306.00p -2.86% Optos (OPTS) 200.00p -2.08% Kofax Limited (DI) (KFX) 472.00p -2.02% CML Microsystems (CML) 330.00p -1.49% Vectura Group (VEC) 133.00p -1.12% SDL (SDL) 333.50p -1.11% Innovation Group (TIG) 29.75p -0.83% IShares Euro Gov Bond 7-10YR UCITS ETF (IEGM) € 197.00 -0.08% UKs fastest growing asset class... Get 10% fixed returns for 10 years and see why the care home investment market is about to boom. Our unique opportunity in the heart of Lancashire is one not to be missed Register your details here to receive the FREE brochure Europe Market Report FTSE 100 Euronext Dax perf CAC 40 Europe close: Stocks fall on German jobs and inflation, Ukraine conflict - German unemployment rises - German inflation remains weak - US GDP rises in Q2 - Fresh fighting between Russia and Ukraine FTSE 100: -0.36% DAX: -1.12% CAC 40: -0.66% FTSE MIB: -2.03% IBEX 35: -1.06% Stoxx 600: -0.66% European stocks finished lower on Thursday as investors weighed worse-than-expected German unemployment data and the news regarding the conflict in Ukraine. German unemployment increased 2,000 following a 12,000 gain a month earlier, missing analysts' forecasts for a 5,000 decrease. The unemployment rate for August held at 6.7%, as expected. Separately, German inflation rose 0.8% in August, unchanged from the previous month and in line with forecasts, according to the Federal Statistics Office. Eurozone inflation figures for August are due on Friday and expected by economists to weaken to an annual rate 0.3% from 0.4% in July. Another report out of Europe showed economic confidence dropped, with the index falling to 100.6 in August from a downwardly revised 102.1 in July. Economists had predicted a reading of 101.5. The figures come after European Central Bank (ECB) President Mario Draghi hinted last week at the possibility of introducing full-on quantitative easing to address weak inflation and a stagnant recovery. Weighing on global stocks on Thursday was news of fresh fighting between Ukraine and Russia. Ukraine President Petro Poroshenko called an emergency security meeting after pro-Russian insurgents widened their attacks, taking several towns outside their strongholds of Donetsk and Luhansk, including near the Sea of Azov. Syria tensions were also high, with Islamic State (IS) militants releasing a YouTube video that shows them killing 250 Syrian soldiers. US GDP, jobless claims The second estimate for US gross domestic product (GDP) showed that the American economy grew by an annualised rate of 4.2% in the second quarter. It was higher than the initial estimate of 4% growth in the advance report and surprised analysts who had expected a small downwards revision to 3.9%. US initial jobless claims fell by 1,000 to 298,000 in the week to 23 August, under the 300,000 consensus forecast. The previous week's level was revised up by 1,000 to 299,000. Alpari UK analyst Craig Erlam said the US economy is looking strong with the only thing standing in the way of the first rate hike from the Federal Reserve being a delay in productivity and wage improvements. Federal Reserve chair Janet Yellen last Friday signalled that interest rates could rise sooner than previously thought. Most analysts expect the first US rate rise to come in mid-2015. In the UK, the British Chambers of Commerce (BCC) said it expected the economy to grow by 3.2% this year and by 2.8% in 2015, up one percentage point from forecasts of 3.1% and 2.7% three months earlier. Ocado, Telecom Ocado dropped after Redburn advised investors to sell shares in the online grocer. Telecom Italia advanced after Vivendi chose Telefonica to discuss a sale of its GVT unit. Gemalto declined after reporting first-half revenue that missed analysts' estimates. Essilor International gained after posting an 11% increase in first-half adjusted profit. The euro fell 0.11% to $1.3179. Brent crude futures dipped 0.19% to $102.52 per barrel, according to 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 open: Stocks slide amid Ukraine tensions US stocks slumped as tensions in Ukraine flared and better-than-expected US reports on economic growth and weekly jobless claims fuelled speculation of an interest rate hike. The second estimate for US gross domestic product (GDP) showed that the American economy grew by an annualised rate of 4.2% in the second quarter. It was higher than the initial estimate of 4% growth in the advance report and surprised analysts who had expected a small downwards revision to 3.9%. It also marked a strong-than-expected rebound from the 2.1% contraction registered in the first three months of the year. According to the Commerce Department, Thursday's revision showed that the increase in business investment was larger than previously thought. "These figures confirm the strength of the US economy, and judging by recent figures, it is not going to run out of momentum any time soon," said Nancy Curtin, the chief investment officer at Close Brothers Asset Management. "While sluggish wage growth remains a key consideration for the Fed, the employment figures continue to show the strength of the labour market. [...] The prospect of a change in monetary tightening is one cloud on the horizon, but it should not be a cause for undue concern." In other economic data on Thursday, US initial jobless claims fell by 1,000 to 298,000 in the week to 23 August, under the 300,000 consensus forecast. The previous week's level was revised up by 1,000 to 299,000. Meanwhile, the four-week moving average fell by 1,250 to 299,750. Alpari UK analyst Craig Erlam said the US economy is looking strong with only thing standing in front of the first rate hike from the Federal Reserve being a delay in productivity and wage improvements. "The country should be on for more than 2% growth this year which is far from great, but good enough under the circumstances." Meanwhile, Ukraine President Petro Poroshenko has called an emergency security meeting after pro-Russian insurgents widened their attacks, taking several towns outside their strongholds of Donetsk and Luhansk, including near the Sea of Azov. In company news, Williams-Sonoma declined after its third-quarter earnings forecast missed analysts' estimates. Abercrombie & Fitch Co. dropped as second-quarter sales fell more than analysts had projected. Guess? slumped after the retailer cut its annual earnings forecast. iPad mini worth £269 for new trading accounts! A minimum volume is required. Terms and conditions apply. Find out more, click here. Broker Tips Broker tips: Morrisons, Tesco, IAG, Ryanair, Melrose Shares of rival supermarket chains Wm Morrison and Tesco were heading in opposite directions on Thursday after Deutsche Bank upgraded its rating for the former and downgraded the latter. The bank lifted Morrisons from 'sell' to 'hold' and kept its 190p target after an 8% share-price underperformance against the wider market over the last three months. As for Tesco, the stock was lowered from 'buy' to 'hold' due to the "low visibility" from recent management changes. "Sentiment [is] trumping fundamentals" in the UK airline sector, according to Jefferies, which recommended investors to see dips as an opportunity to revisit its two preferred names of IAG and Ryanair. Stocks are being swayed by the Ebola outbreak, Icelandic volcano and ongoing geopolitical tensions, the broker said. "A lull in reporting means external factors, not fundamentals, will continue to be the bigger near-term share price driver," said analysts Mark Irvine-Fortescue and Ian Rennardson. Melrose delivered "rock solid" interims, according to Canaccord Genuity which maintained a 'buy' rating and 400p target for the industrial investment group. The broker said that Elster, the gas, electricity and water metering division, continued to outperform expectations and "put in a very strong performance" with margins up 2.9 percentage points over the year at 18.9%.   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