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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 close: Stocks end with modest gain, but down on week overall UK stocks ended the final session of the week with a modest rise, although on the week the index was significantly lower. The FTSE 100 closed 9.68 points higher at 6,649.39.
Markets are concerned about mounting geopolitical tensions, with the government due to take a vote on whether to participate in a war against the "Islamic State" on Friday evening.
David Cameron and Ed Miliband took to the stands in the House of Commons on Friday morning in an attempt to persuade parliament to support airstrikes against Islamic State (IS) militants in Iraq.
Cameron urged members to support military action in the region, underlining Britain's clear basis for action in international law, strengthened by a direct request for British intervention made by the Iraqi government.
The Prime Minister also highlighted the international coalition's need for Britain's unique military and intelligence capabilities in order to fight the Islamist militant group.
"Is there a threat to the British people? The answer is yes," Cameron told parliament, saying he thought action would need to last "years" to be effective.
Members are expected to vote in favour of entering the conflict.
Soaring house prices could drive workers away from London
London could be waving goodbye to a number of workers in the future, as the struggle to meet living costs in the British capital continues to rise.
London's housing shortage could put the city's future at risk unless swift actions are taken to address one of the capital's chronic problems, research conducted by YouGov shows.
Japanese CPI disappoints
Looking abroad, Japanese consumer price inflation came in weaker than expected for August. The headline inflation rate slowed to a 3.3% year-on-year pace from 3.4%, with the ex-fresh food measure down to 3.1% from 3.3% (consensus: 3.2%).
"Softer Japanese CPI data reinforced fears of more BoJ easing and hurt the JPY," analysts at UnicreditResearch said.
Over in the States, gross domestic product (GDP) was revised higher in the second quarter, supported by better retail sales and foreign trade numbers.
The US economy grew at a 4.6% annual rate in the three months to end of June, as predicted by analysts.
Easyjet shares take off thanks to comments from Jefferies
Shares in Easyjet flew higher after Jefferies said the airline was situated to benefit from the recent problems with Air France-KLM, which has been forced to cancel numerous flights due to pilot strike action. The broker also predicted the group would have a positive finish to the year.
Astrazeneca shares also squeezed higher after the company received positive feedback for Moventig, its new treatment for opioid-induced constipation.
British Land shares were lifted by Societe Generale after it lifted its rating from 'hold' to 'buy'.
Meanwhile, Sports Direct shares slumped into the red one day after its boss, Mike Ashley, yesterday surprised the market with the news it has completed a "put" option with Goldman Sachs in a complicated move that it said "reflects Sports Direct's growing relationship with Tesco and belief in Tesco's long-term future". The option relates to 23m Tesco shares.
Tesco, together with its sector peers Sainsbury and Morrison, all continued to decline amid the growing price war amongst supermarkets.
Slower-than-expected growth in its solutions division and challenging market conditions in its currency division have forced security documents designer and producer De La Rue to issue a profit warning, sending shares sharply lower.
The FTSE 250 company said it expects operating profit and underlying profit before tax for the year to be ?20m lower than originally estimated |
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| | Market Movers
techMARK 2,810.43 +0.37%
FTSE 100 6,649.39 +0.15%
FTSE 250 15,383.69 -0.27%
FTSE 100 - Risers
easyJet (EZJ) 1,393.00p +3.19%
St James's Place (STJ) 739.00p +2.78%
British Land Co (BLND) 706.00p +2.10%
Fresnillo (FRES) 761.50p +1.80%
Shire Plc (SHP) 5,330.00p +1.72%
ARM Holdings (ARM) 919.00p +1.66%
Admiral Group (ADM) 1,253.00p +1.62%
International Consolidated Airlines Group SA (CDI) (IAG) 370.70p +1.51%
Hammerson (HMSO) 571.50p +1.51%
Intu Properties (INTU) 330.50p +1.47%
FTSE 100 - Fallers
Sainsbury (J) (SBRY) 250.10p -3.06%
Sports Direct International (SPD) 620.50p -2.67%
Morrison (Wm) Supermarkets (MRW) 171.00p -1.78%
Imperial Tobacco Group (IMT) 2,647.00p -1.78%
IMI (IMI) 1,244.00p -1.66%
Petrofac Ltd. (PFC) 1,010.00p -1.08%
CRH (CRH) 1,389.00p -1.00%
BG Group (BG.) 1,127.50p -0.97%
TUI Travel (TT.) 387.50p -0.95%
3i Group (III) 384.60p -0.88%
FTSE 250 - Risers
Supergroup (SGP) 1,136.00p +4.22%
Fidessa Group (FDSA) 2,303.00p +3.00%
Betfair Group (BET) 1,172.00p +2.99%
Pets at Home Group (PETS) 176.00p +2.92%
Evraz (EVR) 127.10p +2.92%
Zoopla Property Group (WI) (ZPLA) 234.90p +2.76%
SEGRO (SGRO) 365.40p +2.50%
Millennium & Copthorne Hotels (MLC) 556.00p +2.39%
Balfour Beatty (BBY) 224.90p +2.13%
Capital & Counties Properties (CAPC) 332.40p +2.03%
FTSE 250 - Fallers
De La Rue (DLAR) 504.00p -33.60%
Greencore Group (GNC) 240.80p -4.82%
Ocado Group (OCDO) 267.40p -3.67%
Daejan Holdings (DJAN) 4,878.00p -3.31%
Hochschild Mining (HOC) 139.70p -2.92%
Vesuvius (VSVS) 452.50p -2.88%
Synthomer (SYNT) 215.00p -2.80%
Playtech (PTEC) 716.00p -2.78%
African Barrick Gold (ABG) 207.50p -2.72%
Soco International (SIA) 372.40p -2.69%
FTSE TechMARK - Risers
RM (RM.) 154.00p +2.67%
Triad Group (TRD) 11.75p +2.17%
Skyepharma (SKP) 313.00p +1.95%
KCOM Group (KCOM) 96.75p +0.78%
Ricardo (RCDO) 661.00p +0.46%
XP Power Ltd. (DI) (XPP) 1,530.00p +0.33%
IShares Euro Gov Bond 7-10YR UCITS ETF (IEGM) € 197.09 +0.01%
FTSE TechMARK - Fallers
Filtronic (FTC) 20.50p -20.39%
Promethean World (PRW) 30.75p -4.65%
Dialight (DIA) 845.00p -2.03%
Consort Medical (CSRT) 990.00p -1.79%
Optos (OPTS) 199.00p -1.73%
Innovation Group (TIG) 28.50p -1.72%
NCC Group (NCC) 199.50p -0.50%
Vectura Group (VEC) 130.25p -0.38%
Anite (AIE) 88.00p -0.28%
E2V Technologies (E2V) 164.00p -0.15% |
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| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe close: Stocks mostly higher as US GDP revised upward European stocks were mostly higher after US gross domestic product figures for the second quarter were revised higher.
The US economy grew at a 4.6% annual rate in the three months to end of June, as predicted by analysts, driven by better retail sales and foreign trade numbers.
It compares to an earlier estimate of 4.2% on 28 August, the Commerce Department revealed.
"The data signal an even stronger rebound from the decline seen in the first quarter, when extreme weather battered many parts of the economy," said Markit's chief economist Chris Williams.
"However, the impressive gain in the second quarter looks to be far more than just a weather-related upturn, with evidence pointing to an underlying buoyant pace of economic expansion."
The Federal Reserve is weighing the health of the world's biggest economy as it considers when to raise interest rates.
Williams said that rates are likely to stay on hold until mid-2015.
The University of Michigan's consumer confidence index was confirmed at 84.6 in September, surprising analysts that had expected it to be revised up to 84.8.
"Consumer sentiment has made solid gains in recent months, and we continue to look for consumer spending growth of 2.5% through year-end," Barclays said.
Total, Air France
Total gained on news Europe's biggest refiner may sell a 17% stake in the Gulf of Mexico's Tahiti oil field.
Air France-KLM declined as the airline told pilots that had been on strike that their demands don't fit with its plan for a low cost model.
J Sainsbury slumped as Barclays cut its price estimate for the supermarket by 18% to 300p, saying it expects weak second-quarter sales.
Morrison Supermarkets was lower as a report from Nielsen showed sales declined 2.2% in the 12 weeks to 13 September and its market share fell to 11% from 11.2%.
The euro fell 0.49% to $1.2688. |
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| | US Market Report | | US open: Markets rebound after worst day since July Having experienced their worst single day performance since July on Thursday, markets were on the rebound in the final session of the week as data showed the fastest economic growth for three years and corporate results exceeded forecasts.
According to data released by the Commerce Department, the US economy grew at a revised 4.6% annual pace in the second quarter, equalling its best performance since the recession ended in mid-2009, largely because of higher exports and business investment.
"A further rise in retail sales and upbeat consumer confidence data also indicate that the economy maintained strong momentum in the third quarter," said Markit chief economist Chris Williamson.
"Although official factory output data have been somewhat mixed and non-farm payroll growth slowed to an eight-month low, the overall picture, based on a model of all the available official and survey data, is of an economy growing at an annualised rate of around 3% in the third quarter."
In corporate news, Apple rose 1% before the bell, having dropped almost 4% on Thursday amid claims that its new iPhone 6 Plus is prone to bend.
Nike shares jumped over 8% in pre-trading market after the athletic apparel posted better-than-expected quarterly earnings later on Thursday, while Micron Technology rose 7.7% after a surge in quarterly sales exceeded expectations.
Janus Capital Group soared after announcing it had hired Bill Gross, co-founder and co-chief investment officer of Pacific Investment Management, while Blackberry shares climbed 5% before the bell after the smartphone maker offset declining sales with narrower-than-expected fiscal second-quarter loss.
Finish Line shares dropped almost 11% after the firm announced its profit fell 1.3% because of rising expenses, while Chiquita Brands International and Fyffes PLC came to an agreement over reassessed terms of an affiliation plan under which Chiquita would have a greater share of the combined company.
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| | Broker Tips | | Broker tips: Balfour Beatty, De La Rue, TSB Deutsche Bank has recommended buying shares in Balfour Beatty, saying the group presents an "attractive" opportunity. The analyst said the firm's planned disposal of Parsons Brinkerhoff will improve the company's balance sheet following profit warnings in the construction division.
"After several profit warnings in the construction division, two CEOs (currently has no CEO) and a failed approach by Carillion, the shares have been one of the weakest performers in the sector, down 24% year-to-date)," Deutsche said.
"The announced sale of Parsons Brinkerhoff addresses both the balance sheet concerns and together with the stable public private partnership-assets portfolio anchors the valuation. This combined with the overly negative market sentiment provides an opportunity."
However, the broker warned of downside risks in construction and worsening payment terms.
Deutsche upgraded its rating from 'hold' to 'buy' and raised its target to 270p from 245p.
In a note issued on Friday, Investec Securities said it had lowered its earnings before tax, interest, and amortisation (EBITA) forecast for the banknote printer De La Rue to £64.1m for the 2015 fiscal financial year.
Investec had originally forecasted EBITA to be £88.2m but in the wake of the profit warning issued by the firm on Friday, the third in three years, Investec announced it had lowered its forecast below guidance level, which currently stands a £69m.
The analyst firm also reduced its earnings per share forecast for the 2015 and 2016 financial years by 35% and 43% respectively, while EBITA forecasts for the next two financial years have been downgraded by £24.1m and £33.5m.
Investec said it expected the stock to fall heavily on Friday, especially given the signalled cut to the dividend and that it had reduced its target on De La Rue shares to 600p, still higher than Numis' target of 540p.
De La Rue shares plummeted on Friday and had lost 27.55% to 549.87p at 09:37.
Investec Securities is feeling very positive about TSB's long-term outlook in the wake of Lloyds' decision to sell another 11.5% of its shares in the bank, it revealed in a note to investors on Friday.
Having sold 38.5% of TSB in June at 260p a share, Lloyds has placed a further £57.5m stake up for sale, meaning the banking giant will be left with a 50% share in the group. It remains obligated to exit in full by the end of 2015.
Investec said that while TSB had "sharply underperformed" against all other UK domestic banks over the past six weeks, the new share sale boosted the group's long-term prospective, though it remained "slow-burn" in the short-term future.
The broker added that it estimates TSB will report a loss in the second half of 2014 and in the full-year 2015, albeit one that would be "more than offset by the temporary mortgage enhancement subsidy".
It said it expected the bank to become a low-risk legacy-free investment with a sustainable ratio between return of equity and the cost of equity after 2019 and beyond.
Investec reiterated its 'hold' recommendation for the stock, with a target of 290p.
TSB shares were down 0.77% to 277.85p. | | |
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