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| | London Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | London open: Stocks fall despite strong earnings, as geopolitics weigh - Investors watch Ukraine crisis amid 'aid mission' speculation
- ZEW surveys in focus in Germany
- Ladbrokes, Just Eat, Serco and SIG rise after results
- Hargreaves Lansdown hit by comments from UBS
techMARK 2,721.19 -0.23%
FTSE 100 6,621.59 -0.17%
FTSE 250 15,468.99 +0.05%
UK stocks declined on Tuesday morning as investors watched geopolitical developments and waited for economic data from Germany.
However, downside was being limited early on as investors gave a positive reaction to corporate earnings from the likes of Ladbrokes, Just Eat, Serco and SIG.
London's benchmark FTSE 100 was trading 0.2% lower at 6,622 in early trading.
The index advanced 1% on Monday on the back of improved newsflow from Iraq, Gaza and Ukraine. In particular, investors welcomed the news of Russia stopping military exercises near the eastern border of Ukraine over the weekend.
Ukraine and Russia are now said to have agreed on a Red Cross-led humanitarian aid mission in Luhansk, where thousands of people are without access to water, power and medical help. However, there were conflicting reports that said that the Red Cross was still waiting for information about the contents of a Russian convoy before agreeing to a mission.
Meanwhile, with Ukrainian officials claiming that up to 45,000 Russian troops remain close to the frontier, tensions between the neighbouring nations are still high with developments having the potential to spark volatile moves on financial markets.
On the macro calender on Tuesday, traders will be keeping a close eye on the ZEW surveys in Germany which are expected to show that confidence has dipped this month. The headline economic sentiment index, which surveys financial experts, is forecast to fall to 17 from 27.1 in July.
Ladbrokes, Just Eat, Serco and SIG rise
High street bookie Ladbrokes was a high riser early on after saying it delivered on its key operational objectives in the first six months of 2014, as a good World Cup performance pushed revenues higher 4% to £589.3m. However, profits fell by nearly 50% as a result of "industry-wide customer-friendly results, notably in football in January and horse racing in June", the company said.
Online takeaway marketplace Just Eat said profits trebled in the first half of 2014 on the back of strong demand and accelerating growth in mobile. The company said pre-tax profit was up 200% at £6m on revenues that jumped by 58% to £69.8m, causing shares to surge in morning trade.
Support services group Serco was also making gains despite reporting "poor" first-half trading and predicted challenges ahead. Investors, however, welcomed the news that it had reduced net debt and appointed a new finance chief.
Building product distributor SIG rose as the company forecast better-than-expected annual profits on the back of the buoyant UK housing market, though it said trading in France was still tough.
RSA Insurance was also in demand on Tuesday after Credit Suisse upgraded the stock from 'underperform' to 'neutral', saying that the stock's valuation is not demanding.
Leading the fallers was financial services group Hargreaves Lansdown after UBS initiated coverage of the stock with a 'sell' rating, saying that the "risk-reward [is] significantly skewed to the downside".
Utility stocks were providing a drag on the markets this morning with Centrica and National Grid among the worst performers. |
| FTSE 100 - Risers
Barclays (BARC) 217.90p +0.76%
TUI Travel (TT.) 362.90p +0.67%
RSA Insurance Group (RSA) 427.80p +0.52%
Bunzl (BNZL) 1,614.00p +0.50%
Glencore (GLEN) 375.35p +0.47%
International Consolidated Airlines Group SA (CDI) (IAG) 332.50p +0.39%
Persimmon (PSN) 1,277.00p +0.39%
HSBC Holdings (HSBA) 627.90p +0.32%
Carnival (CCL) 2,198.00p +0.32%
Sports Direct International (SPD) 664.00p +0.30%
FTSE 100 - Fallers
Hargreaves Lansdown (HL.) 1,040.00p -3.79%
Shire Plc (SHP) 4,711.00p -1.11%
United Utilities Group (UU.) 835.50p -1.07%
National Grid (NG.) 845.00p -1.05%
Ashtead Group (AHT) 899.00p -0.83%
SSE (SSE) 1,450.00p -0.82%
Tesco (TSCO) 244.30p -0.81%
Severn Trent (SVT) 1,871.00p -0.80%
Travis Perkins (TPK) 1,690.00p -0.76%
Centrica (CNA) 305.50p -0.75%
FTSE 250 - Risers
Just Eat (JE.) 233.50p +6.38%
Serco Group (SRP) 347.00p +5.50%
Perform Group (PER) 237.00p +3.90%
Ladbrokes (LAD) 133.90p +2.61%
African Barrick Gold (ABG) 259.00p +2.57%
SIG (SHI) 176.40p +2.56%
JD Sports Fashion (JD.) 394.90p +2.31%
AO World (AO.) 204.40p +2.20%
Grafton Group Units (GFTU) 604.50p +2.20%
Xaar (XAR) 559.00p +2.10%
FTSE 250 - Fallers
Ophir Energy (OPHR) 199.50p -2.54%
Brit (BRIT) 235.90p -2.52%
Crest Nicholson Holdings (CRST) 334.40p -1.76%
Kazakhmys (KAZ) 311.00p -1.46%
Keller Group (KLR) 852.50p -1.33%
Pace (PIC) 311.70p -1.24%
Balfour Beatty (BBY) 240.00p -1.23%
Genus (GNS) 1,039.00p -1.05%
Fidessa Group (FDSA) 2,184.00p -1.00% |
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| | UK Event Calendar | | Tuesday August 12
INTERIMS
AL Noor Hospitals Group, Damac Real Estate Development Limited GDR (Each Repr 3 Ord) (Reg S) , Ithaca Energy Inc. (DI), Just Eat , Ladbrokes, Prudential, Serco Group, SIG, Zotefoams
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Treasury Budget Statement (US) (19:00)
ZEW Survey (EU) (10:00)
ZEW Survey (GER) (10:00)
Q2
Ithaca Energy Inc. (DI)
GMS
Broca, Lebanese Co for the Development & Reconstruction of Beirut Central District SAL GDS (Reg S)
FINALS
Mirada
ANNUAL REPORT
Diageo
AGMS
GB Group, Global Lock Safety (International) Global Lock Co Ltd. (DI)
TRADING ANNOUNCEMENTS
Volution Group (WI)
UK ECONOMIC ANNOUNCEMENTS
BRC Sales Monitor (00:01)
Public Sector Finances (09:30)
FINAL DIVIDEND PAYMENT DATE
Babcock International Group, Invesco Asia Trust, KBC Advanced Technologies
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| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks slide as markets watch geopolitical crises - Russia sends humanitarian aid to Ukraine
- US backs removal of Iraqi PM
- Gaza negotiations underway
- German investor confidence data due
FTSE 100: -0.20%
DAX: -0.42%
CAC 40: -0.65%
FTSE MIB: -0.36%
IBEX 35: -0.08%
Stoxx 600: -0.23%
European stocks moved into the red as investors weighed geopolitical developments and awaited a report on German investor confidence.
Russian President Vladmir Putin on Tuesday morning sent 280 trucks to deliver humanitarian aid to southeast Ukraine. Humanitarian aid included food, medicine and drinking water. However, the Red Cross said it was still waiting for more information on the contents of the convoy before agreeing to a mission.
Meanwhile, movements in Iraq and Gaza were also being closely watched by markets.
US President Barack Obama has voiced his support for the removal of Nouri al-Maliki as Prime Minister of Iraq and urged his replacement, deputy speaker of the parliament, Haider al-Ibadi, to move forward with formation of a new cabinet.
Israeli and Palestinian negotiators began talks on Monday to solve the conflict in Gaza amid a three-day ceasefire between the countries.
In Germany, ZEW's investor confidence index is forecast to fall to 54 in August from 61.8 in July.
"Lately German economic data has been awful, with gross domestic product, consumer price index and unemployment numbers all struggling," said Alpari UK analyst James Hughes. He said: "The issue the EU has is that without a strong German it has no chance of real economic recovery.
"Mario Draghi has thrown everything by the quantitative easing labelled kitchen sink at the boosting dragging inflation to the upside and kick starting growth but all of these measures will worthless should Germany not show signs of strength. Today's reading will tell us just how well people think the plans by the European Central Bank are working."
Ladbrokes, Serco
Ladbrokes advanced after the UK operator of betting shops reported a 1.6% increase in first-half revenue to £577.8m. The company forecast a return to growth in the second half of the year after pre-tax profit dropped in the first six months.
Serco Group rallied as the outsourced-services provider said Aggreko's Angus Cockburn will take over as chief financial officer.
Henkel declined as the German maker of Loctite glue and Persil washing detergent said earnings growth will slow in the second half, reflecting the impact of crises in Ukraine and the Middle East.
Rhoen-Klinikum slumped following news that Berenberg and Goldman are selling shares in the hospital operator.
The euro fell 0.13% to $1.3367.
Brent crude futures dropped 0.81% to $103.83 per barrel, according to the ICE. |
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| | US Market Report | | US close: Easing geopolitical tensions lift stocks - Iraq's President nominates new PM
- Israel and Hamas militants accept ceasefire
- Ukraine and Russia send aid to Luhansk
DJIA: 0.10%
Nasdaq: 0.70%
S&P 500: 0.28%
US stocks advanced on Monday as geopolitical tensions eased somewhat.
Iraq's President Fouad Masoum nominated Haidar al-Abadi, a Shiite who is deputy speaker of parliament, as Prime Minister to try to form a new cabinet.
However, embattled Iraqi Prime Minister Nouri al-Maliki rejected the transition to his successor.
The move was supported by the US which is flying as many as 100 attack and reconnaissance missions daily over Iraq to fight against Sunni militants, according to a military official.
Israel and Hamas militants accepted an Egyptian ceasefire proposal Sunday, paving the way for the resumption of negotiations to end a month of clashes in the Gaza Strip that has taken nearly 2,000 lives.
Ukraine and Russia have agreed to a Red Cross-led humanitarian aid mission to the eastern Ukrainian rebel stronghold of Luhansk.
At least 1,500 people have died since Ukraine sent in troops to fight against pro-Russia separatists in the Donetsk and Luhansk regions in mid-April.
Ukrainian forces have now stormed Donetsk and residents are struggling without power or reliable sources of food.
On the company front, Sysco Corp. gained after the food products maker and distributor reported fourth-quarter earnings that beat analysts' expectations.
MannKind jumped after announcing it has reached a licensing pact with French drug maker Sanofi to develop and sell diabetes medicine Afrezza.
The 10-year Treasury yield closed at 2.42%.
West Texas Intermediate crude futures rose 0.24% to $97.89 per barrel on the NYMEX.
S&P 500 - Risers
E*TRADE Financial Corp. (ETFC) $21.51 +4.57%
F5 Networks Inc. (FFIV) $116.76 +3.81%
Sysco Corp. (SYY) $37.44 +3.23%
Fossil Group Inc (FOSL) $103.21 +2.71%
Quanta Services Inc. (PWR) $34.64 +2.58%
Wyndham Worldwide Corp. (WYN) $78.29 +2.57%
Kraft Foods Group, Inc. (KRFT) $56.02 +2.45%
Adt Corp (ADT) $36.35 +2.39%
Twenty-First Century Fox Inc Class A (FOXA) $34.77 +2.39%
Micron Technology Inc. (MU) $30.74 +2.33%
S&P 500 - Fallers
Tesoro Corp. (TSO) $61.76 -2.45%
Allergan Inc. (AGN) $153.39 -2.19%
Southwestern Energy Co. (SWN) $39.31 -1.70%
SCANA Corp. (SCG) $49.43 -1.53%
Consolidated Edison Inc. (ED) $56.03 -1.53%
Actavis plc (ACT) $202.72 -1.49%
Coach Inc. (COH) $36.18 -1.44%
AES Corp. (AES) $14.56 -1.29%
Keycorp (KEY) $13.05 -1.21%
EQT Corp. (EQT) $94.02 -1.20%
Dow Jones I.A - Risers
Caterpillar Inc. (CAT) $104.50 +1.18%
Intel Corp. (INTC) $33.02 +1.04%
Cisco Systems Inc. (CSCO) $25.23 +0.80%
Walt Disney Co. (DIS) $87.50 +0.75%
Procter & Gamble Co. (PG) $81.48 +0.65%
Home Depot Inc. (HD) $82.88 +0.55%
General Electric Co. (GE) $25.79 +0.51%
International Business Machines Corp. (IBM) $187.47 +0.45%
Coca-Cola Co. (KO) $39.57 +0.30%
Travelers Company Inc. (TRV) $90.66 +0.20%
Dow Jones I.A - Fallers
Exxon Mobil Corp. (XOM) $98.73 -1.01%
American Express Co. (AXP) $86.95 -0.59%
Wal-Mart Stores Inc. (WMT) $74.36 -0.42%
Pfizer Inc. (PFE) $28.25 -0.32%
Unitedhealth Group Inc. (UNH) $79.87 -0.31%
United Technologies Corp. (UTX) $105.72 -0.23%
3M Co. (MMM) $140.58 -0.19%
Chevron Corp. (CVX) $127.71 -0.12%
Verizon Communications Inc. (VZ) $48.67 -0.06%
JP Morgan Chase & Co. (JPM) $56.32 -0.04%
Nasdaq 100 - Risers
Tesla Motors Inc (TSLA) $259.32 +4.51%
F5 Networks Inc. (FFIV) $116.76 +3.81%
Illumina Inc. (ILMN) $164.14 +3.12%
Kraft Foods Group, Inc. (KRFT) $56.02 +2.45%
Twenty-First Century Fox Inc Class A (FOXA) $34.77 +2.39%
Liberty Interactive Corp (LINTA) $27.86 +2.35%
Micron Technology Inc. (MU) $30.74 +2.33%
Priceline Group Inc (PCLN) $1,309.28 +2.16%
Express Scripts Holding Co (ESRX) $71.79 +1.79%
Alexion Pharmaceuticals Inc. (ALXN) $161.78 +1.68%
Nasdaq 100 - Fallers
Biogen Idec Inc. (BIIB) $320.34 -1.14%
Mylan Inc. (MYL) $45.36 -1.07%
Dollar Tree Inc (DLTR) $55.10 -1.04%
Sba Communications Corp. (SBAC) $109.49 -0.91%
Stericycle Inc. (SRCL) $117.69 -0.85%
Keurig Green Mountain Inc (GMCR) $115.43 -0.82%
Ross Stores Inc. (ROST) $66.32 -0.64%
Nvidia Corp. (NVDA) $18.90 -0.53%
Sirius XM Holdings Inc (SIRI) $3.42 -0.44%
eBay Inc. (EBAY) $53.88 -0.39% |
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| | Newspaper Round Up | | Tuesday newspaper round-up: Iraq, Expats, Poundland Heavily armed RAF warplanes will fly over northern Iraq as part of Britain's effort to help thousands of starving refugees trapped by Islamist militants. Up to eight Tornado fighter bombers, deployed from an RAF base in Cyprus, will operate in a surveillance role rather than join the United States in conducting airstrikes against Islamic State jihadists. Defence sources indicated last night, however, that the mission — codenamed Operation Shader — could quickly evolve into a wider combat role. - The Times
Iraq's president appointed a candidate to replace Prime Minister Nouri al-Maliki but the long-time leader refused to step aside, setting up a confrontation as the government struggles to combat a rapidly advancing Sunni insurgency. President Fuad Masum designated Haider al-Abadi, a member of Mr. Maliki's Shiite Islamist Dawa party, to form the next government. Mr. Maliki, who was vying for a third four-year term, angrily rejected the nomination in two televised appearances on Monday and vowed to challenge a decision he called a subversion of the constitution and a betrayal of the public will. - The Wall Street Journal Europe
Expats who rent out their homes in Britain will be stripped of the right to use the personal allowance, under a tax raid prepared by George Osborne. Britons could be forced to return from retirements overseas if the Chancellor presses ahead with plans to force non-residents to pay tax on all their UK income, accountants warned. Retirees drawing a Government pension are also likely to be hit by the proposals, which could cut a couple's income by up to £4,000 a year. - The Daily Telegraph
The discount online retailer launched by the founder of Poundland has been dealt a blow after its partner quit the project. Poundland entrepreneur Steve Smith launched Poundshop.com in February with the strapline "Yes! Everything is still £1", selling a product mix from felt-tip pens to kitchen towels. The site was overwhelmed by traffic on its debut as shoppers flocked to what Smith described as a Poundland-style "treasure hunt-type experience". However, Smith will now have to go it alone after Poundworld said it would withdraw from the venture. - The Guardian
Oil tycoon Alasdair Locke is understood to have struck a £200m deal to acquire a chain of petrol stations from US-based Murphy Oil Corporation, which last month agreed to sell its troubled Welsh refinery as it retreats from the UK. Locke, who netted more than £100m from the sale of Aberdeen-based driller Abbot Group in 2008, already has about 60 forecourts across the UK through his Motor Fuel Group (MFG) venture, which is backed by private equity firm Patron Capital. - Scotsman
It has been demonised for its alleged greed and ruthlessness, indifference to public opinion and reluctance to pay tax. So Britain's private equity industry was on red alert yesterday as a strike by care workers in Doncaster threatened to snowball into a noisy cause célèbre. Seven years after the reputation of the industry was dragged through the mud, senior private equity figures are nervous that the dispute could lead to a repeat of that unhappy era. - The Times | | |
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