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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: Geopolitics knocks another 1% off FTSE 100 - Obama authorises Iraq airstrikes
- FTSE 100 set to close at lowest since March
- Travel and leisure stocks fall, TUI Travel declines
techMARK 2,678.52 -1.16%
FTSE 100 6,533.19 -0.97%
FTSE 250 15,099.86 -0.92%
UK stocks sank sharply on Friday, dropping to levels not seen in months, as heightened geopolitical concerns dampened investors' appetite for risk assets.
The FTSE 100 had dropped 1% to 6,533 early on after closing Thursday at a four-month low of 6,597.37.
The index has not closed below this mark since March 24th, though it had reached an intraday low of 6,507.08 on April 14th.
Stocks were under pressure on Thursday after Moscow announced a ban on food imports from the US and European Union in response to another round of sanctions on Russia.
Meanwhile, US President Barack Obama overnight authorised air strikes on Islamic militants in northern Iraq, saying that America could not turn a "blind eye" to what he called a "potential act of genocide" of the Yazidi people.
The move follows the seizure of Iraq's largest Christian town by Islamic State (IS) fighters who have been taking control of large parts of northern Iraq since June.
"The geopolitical landscape already looks explosive with tensions rising in Ukraine and with Russia but the appearance of another flash point and the possibility of being drawn into something deeper in Iraq is set to drag sentiment even lower," said Jonathan Sudaria, a dealer from Capital Spreads.
TUI Travel reports strong Q3 but shares drop
Travel tour operator TUI Travel declined despite saying it has delivered a strong result in the third quarter with like-for-like underlying profits up 21% on last year.
However, geopolitical concerns were continuing to weigh on the wider travel and leisure sector with Thomas Cook, IAG and Easyjet all registering steep losses on Friday.
Specialty property and casualty insurer Catlin was a bright spark in morning trade after reporting a 118% increase in interim profits before tax to $318m.
However, Africa-focused oil explorer Afren sank after saying it has temporarily suspended operations at its Barda Rash field in Iraq due to the heightened regional security issues. The company said that non-essential field personnel are being withdrawn in a phased manner.
Precious metals miner Fresnillo was making gains early on as gold and silver prices rose on the back of safe-haven demand. Even African Barrick Gold and Randgold Resources, which were trading slightly lower, were outperforming the wider market. |
| FTSE 100 - Risers
Fresnillo (FRES) 995.50p +1.53%
Morrison (Wm) Supermarkets (MRW) 167.60p +0.18%
Legal & General Group (LGEN) 238.00p +0.13%
ARM Holdings (ARM) 871.50p +0.11%
Standard Chartered (STAN) 1,213.50p +0.04%
Tesco (TSCO) 243.85p +0.02%
FTSE 100 - Fallers
Barratt Developments (BDEV) 324.40p -3.34%
Mondi (MNDI) 979.50p -3.02%
Ashtead Group (AHT) 854.00p -2.95%
International Consolidated Airlines Group SA (CDI) (IAG) 307.30p -2.81%
Schroders (SDR) 2,213.00p -2.68%
easyJet (EZJ) 1,207.00p -2.58%
Sports Direct International (SPD) 640.50p -2.36%
InterContinental Hotels Group (IHG) 2,185.00p -2.32%
Persimmon (PSN) 1,201.00p -2.28%
Shire Plc (SHP) 4,519.00p -2.19%
FTSE 250 - Risers
Catlin Group Ltd. (CGL) 504.50p +3.74%
Ted Baker (TED) 1,694.00p +2.05%
Kennedy Wilson Europe Real Estate (KWE) 1,074.00p +1.80%
AL Noor Hospitals Group (ANH) 985.50p +1.60%
Poundland Group (PLND) 317.10p +1.31%
Bank of Georgia Holdings (BGEO) 2,494.00p +0.97%
Alent (ALNT) 341.70p +0.95%
Domino Printing Sciences (DNO) 588.50p +0.94%
Just Retirement Group (JRG) 151.60p +0.73%
Law Debenture Corp. (LWDB) 505.00p +0.70%
FTSE 250 - Fallers
Afren (AFR) 94.40p -5.13%
Thomas Cook Group (TCG) 113.50p -4.14%
Henderson Group (HGG) 219.40p -3.77%
Foxtons Group (FOXT) 257.60p -3.70%
Pace (PIC) 300.40p -3.69%
Keller Group (KLR) 820.50p -2.78%
Enterprise Inns (ETI) 114.20p -2.73%
ITE Group (ITE) 190.00p -2.71%
Stock Spirits Group (STCK) 292.00p -2.67% |
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| | UK Event Calendar | | Friday August 08
INTERIMS
Catlin Group Ltd., Puricore
INTERIM DIVIDEND PAYMENT DATE
Pressure Technologies
QUARTERLY PAYMENT DATE
British Land Co, Investors Capital Trust 'A' Shares, Investors Capital Trust 'B' Shares
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Trade (GER) (07:00)
Current Account (GER) (07:00)
Productivity (US) (13:30)
Retail Price Index (GER) (07:00)
Wholesales Inventories (US) (15:00)
GMS
Photonstar LED Group
AGMS
Origo Partners , Redcentric
TRADING ANNOUNCEMENTS
Bellway
UK ECONOMIC ANNOUNCEMENTS
Balance of Trade (09:30)
FINAL DIVIDEND PAYMENT DATE
Bond International Software, Cable & Wireless Communications, Charles Stanley Group, Cropper (James), Datang International Power Generation Co Ltd., Ensor Holdings, Hyder Consulting, Monks Inv Trust, Sepura, Vedanta Resources, VP, Walker Greenbank |
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| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks fall as US launches air strikes in Iraq - US launches air strikes in Iraq
- German trade surplus narrows
- Chinese trade surplus expands
FTSE 100: -1.00%
DAX: -1.39%
CAC 40: -0.94%
FTSE MIB: -0.91%
IBEX 35: -1.25%
Stoxx 600:-1.38%
European stocks declined after US President Barack Obama said he would allow US air strikes against militants in Iraq.
Obama authorised limited air strikes against Sunni militants in Iraq to protect US personnel and Yazidi refugees who are stranded on a mountain. US planes are dropping food and water for them, Obama said.
"The threat to a country such as the US is that many of the Islamic state fighters have originated from Western nations and as such, a greater involvement in this conflict could mean that upon returning to their country you will have a number of battle hardened terrorists seeking to enact revenge against Western countries for their involvement against the 'Islamic State'," said Alpari UK analyst Joshua Mahony.
On the macro front Germany's trade surplus narrowed to €16.2bn in June from €17.8bn a month earlier, as imports jumped 4.5% to offset a 0.9% increase in exports. Analysts had expected the surplus to grow to €18.9bn.
The data comes a day after European Central Bank president Mario Draghi warned the euro-area's recovery remained fragile and uneven as the monetary authority kept policy unchanged.
In China, on the other hand, the trade surplus rose to $47.30bn in July from $31.56bn in June, surprising analysts who had expected a $24bn surplus. It was supported by a 14.6% surge in exports, compared to a 1.6% fall in imports.
"Chinese July trade data overnight might have had the ability to help inject a more optimistic tone to the end of the week, with exports rising sharply by 14.5% however imports slid 1.6% suggesting that internal demand continued to remain weak despite the recent pick up in Chinese economic data," said Michael Hewson at CMC Markets.
Nokian, Tod's
Nokian Renkaat Oyj edged lower after the Finnish tiremaker reported a fall in Russian revenue and posted quarterly profit that fell short of market expectations.
Tod's sank after the luxury-good maker's first-half sales and profit missed estimates.
Allianz SE gained after Europe's biggest insurer reported a rise in second-quarter income that beat forecasts.
Banca Monte dei Paschi di Siena slumped after the Italian lender increased its provisions for bad loans and reported a wider-than-forecast second-quarter loss.
The euro rose 0.12% to $1.3380.
Brent crude futures increased 0.94% to $106.45 per barrel, according to the ICE. |
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| | US Market Report | | US close: Russia retaliation knocks Dow to 15-week low Dow Jones: -0.46%
Nasdaq: -0.46%
S&P 500: -0.53%
US stocks fell on Thursday as a retaliatory Russian sanctions landed on top of creeping concerns about military posturing along the Ukrainian border.
The Dow Jones closed at its lowest level since 25 April, 4.5% off its July 16 record high, according to the Dow Jones markets data group, while the S&P 500 fell to a two-month low, 3.9% off its July 24 record high.
The flight from equities as risk aversion reigned saw 10-year Treasury yields slump 6 basis points to 2.415%, the lowest point in over a year, while safe-haven demand and short covering pushed gold slightly higher on the day, with spot gold up almost $5 at $1,311.
Initially US indices had climbed higher on the back of strong weekly jobless claims figures before it emerged that the Russian Federation placed a ban on a list of foodstuffs produced in countries that have recently levied sanctions against it.
The Kremlin has blocked imports of meat, fish, seafood, vegetables, fruit, milk, dairy products from the US, the EU, Australia, Canada and Norway for a year. A wide range of processed foods were also added to the blacklist of prohibited goods.
Elsewhere in Europe, both the Bank of England and the European Central Bank (ECB) decided to keep their respective monetary policy settings unchanged, as expected.
Earlier, the US Labor Department reported jobless claims had dropped lower than expected to 289,000 in the week to 2 August, down from a revised 303,000 the week before and better than the 304,000 expected by analysts.
The four-week moving average of jobless claims dropped to 293,500, the lowest since February 2006.
"Overall, this report shows that layoffs remain subdued and is consistent with solid job growth," said analyst Dean Maki from Barclays.
It comes after the government's monthly employment report last Friday showed companies in the US added more than 200,000 jobs for a sixth straight month in July, the longest such period since 1997.
US consumer credit fell more than expected to $17.26bn in June from $19.64bn in the month before, when analysts consensus forecasts pointed $18.65bn.
Strong labour market data has increased speculation that the Federal Reserve may be prompted to hike interest rates sooner than expected.
21st Century Fox, Keurig Green Mountain
21st Century Fox advanced as X-Men: Days of Future Past and Rio led to a jump in income at its film business.
Keurig Green Mountain declined after the coffee brewer's profit forecast for the current period disappointed analysts.
Centurylink was a high riser as high-speed internet connections helped second quarter sales to grow.
Carnival Corp. rallied after Bank of America raised its rating on the cruise ship operator.
The 10-year Treasury yield fell two basis points to 2.45%.
West Texas Intermediate crude futures rose 0.1% to $96.93 per barrel, according to the ICE.
S&P 500 - Risers
Twenty-First Century Fox Inc Class A (FOXA) $33.96 +5.04%
Netflix Inc. (NFLX) $449.67 +4.50%
First Solar Inc. (FSLR) $68.17 +3.91%
Walgreen Co. (WAG) $60.87 +2.80%
L Brands Inc (LB) $60.62 +2.42%
Sempra Energy (SRE) $99.52 +2.33%
QEP Resources Inc (QEP) $33.49 +2.32%
Pentair plc (PNR) $66.55 +2.26%
Dun & Bradstreet Corp. (DNB) $112.03 +1.85%
NextEra Energy Inc. (NEE) $93.97 +1.75%
S&P 500 - Fallers
Discovery Communications Inc. Class A (DISCA) $40.97 -51.36%
Cognizant Technology Solutions Corp. (CTSH) $44.37 -11.22%
Scripps Network Interactive Inc. (SNI) $77.43 -5.67%
Boston Scientific Corp. (BSX) $12.26 -4.59%
Aetna Inc. (AET) $75.22 -3.96%
Harman International Industries Inc. (HAR) $106.87 -3.95%
CF Industries Holdings Inc. (CF) $243.81 -3.66%
WellPoint Inc. (WLP) $107.29 -3.64%
Humana Inc. (HUM) $115.97 -3.41%
Windstream Holdings Inc (WIN) $11.16 -3.38%
Dow Jones I.A - Risers
Boeing Co. (BA) $119.84 +1.27%
Microsoft Corp. (MSFT) $43.23 +1.15%
Caterpillar Inc. (CAT) $101.94 +0.44%
United Technologies Corp. (UTX) $104.22 +0.41%
General Electric Co. (GE) $25.50 +0.24%
Travelers Company Inc. (TRV) $89.90 +0.22%
Dow Jones I.A - Fallers
Unitedhealth Group Inc. (UNH) $79.26 -2.75%
Coca-Cola Co. (KO) $39.35 -1.43%
Walt Disney Co. (DIS) $85.51 -1.25%
AT&T Inc. (T) $34.21 -1.18%
Procter & Gamble Co. (PG) $80.14 -1.17%
Nike Inc. (NKE) $76.35 -1.02%
Verizon Communications Inc. (VZ) $48.65 -0.98%
International Business Machines Corp. (IBM) $184.30 -0.90%
Pfizer Inc. (PFE) $28.04 -0.85%
Visa Inc. (V) $209.04 -0.78%
Nasdaq 100 - Risers
Twenty-First Century Fox Inc Class A (FOXA) $33.96 +5.04%
Netflix Inc. (NFLX) $449.67 +4.50%
Tesla Motors Inc (TSLA) $252.39 +1.39%
Cerner Corp. (CERN) $55.00 +1.21%
Microsoft Corp. (MSFT) $43.23 +1.15%
Verisk Analytics Inc. (VRSK) $60.40 +1.14%
Catamaran Corp (CTRX) $43.96 +1.13%
Symantec Corp. (SYMC) $23.97 +1.01%
Citrix Systems Inc. (CTXS) $68.66 +1.00%
Facebook Inc. (FB) $73.17 +0.97%
Nasdaq 100 - Fallers
Discovery Communications Inc. Class A (DISCA) $40.97 -51.36%
Cognizant Technology Solutions Corp. (CTSH) $44.37 -11.22%
Nxp Semiconductors Nv (NXPI) $60.50 -3.88%
Micron Technology Inc. (MU) $29.68 -3.26%
Mylan Inc. (MYL) $46.49 -2.98%
Whole Foods Market Inc. (WFM) $37.35 -2.96%
Wynn Resorts Ltd. (WYNN) $195.18 -2.67%
Vimpelcom Ltd Ads (VIP) $8.00 -2.44%
Sandisk Corp. (SNDK) $90.79 -2.41%
Vertex Pharmaceuticals Inc. (VRTX) $84.74 -2.38% |
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| | Newspaper Round Up | | Friday newspaper round-up: Iraq, Tesco, RBS... Barack Obama has authorised targeted air strikes against Islamic militants in Iraq, as the US military began an airborne operation to bring relief to thousands of minority Iraqis driven to a grim, mountain-top refuge. Describing the threats against stranded Yezidi refugees as holding the potential for "genocide", the president said he had authorised limited air strikes to help Iraqi forces, to assist in the fight to break the siege and protect the civilians trapped there. - The Guardian
Tesco's credit has been downgraded by one of the world's leading rating agencies, sending shares in Britain's biggest retailer slumping to a ten-year low. Standard & Poor's said it had cut Tesco's rating from BBB+ to BBB and warned the struggling supermarket that it had a "negative outlook" on its business, given the level of competition it faced in Britain from low-cost rivals. - The Times
Sir Philip Hampton, chairman of Royal Bank of Scotland, is thought to be preparing his exit from the bailed-out bank amid mounting expectations he will move to the same role at GlaxoSmithKline. The switch by Hampton to the top role at Britain's biggest pharmaceutical company is expected to be confirmed next month. - The Guardian
German bonds yields plunged to a historic low and two-year rates briefly fell below zero on Thursday on fears of widening recession in the eurozone, and a flight to safety as Russian troops massed on the Ukrainian border. [...] Commerzbank warned that the German economy may have contracted by 0.2pc in the second quarter and is far too weak to pull southern Europe out of the doldrums. - The Telegraph
Malaysia Airlines is to be taken off the Kuala Lumpur stock exchange and made fully state-owned as the double disaster-hit carrier is prepared for a "complete overhaul" by the country's sovereign wealth fund, Khazanah Nasional. The announcement, which was preceded by a suspension of the shares on Friday morning, has intensified market speculation over the likely fate of an airline that many believe cannot survive under a brand now blighted by tragedy, accident and mystery. - The Times
BT has been foiled in a bid to force BSkyB to wholesale the Sky Sports channels before the start of the new Premier League season by top judges heading off on holiday. The telecoms giant took its arch rival to court last month, seeking a quick decision that could have given its television service a big boost by allowing customers to watch all live Premier League matches. [...] With the opening weekend of the season just over a week away, BT will now have to wait until at least September for a decision. - The Telegraph
Millions of customers have been flocking to Aldi to slash their weekly grocery budget. But if you really want to save money, it seems shopping around is the best option. Research reveals that the budget chain does not always come out top for bargains when compared with other supermarkets. In fact, no one grocer can claim to be the overall cheapest. - The Daily Mail | | |
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