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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: Shares near year-lows as economic woe weighs The London market moved closer to year-lows on Friday as crude and metal prices fell amid fears of a renewed global economic downturn. The FTSE 100 Index closed 91.88 points down at 6339.97, slightly above its 2014 low of 6,328, as traders reflected on a week of negative European economic data.
The UK trade deficit narrowed slightly in August, but the improvement was due to lower imports rather than any upturn in exports.
There was also bad news in UK construction, where output racked up its first annual drop in August since May 2013.
A stream of weak data out of Germany caused shares in Frankfurt to hit lows last witnessed more than a year ago.
Market analyst Alastair McCaig at spread-betting group IG said: " The powerhouse of Europe has failed to drag the rest of Europe into the next phase of recovery and is increasingly looking like it will be dragged back into recession."
Oil prices fell again, with the price of a barrel of West Texas Intermediate crude leaking $1.54 to $85.77 just after the London market closed and Brent crude dipping $1.33 to $90.05.
The declines hit oil stocks, with Royal Dutch Shell 'B' shares backtracking 62p to 2258p and BP reversing 7p to 428.15p.
Falling gold and other metal prices dragged down miners, with Antofagasta dropping 24.5p to 661.5p, BHP Billiton easing 52p to 1613.5p, Glencore down 9.5p to 312.25p and Rio Tinto off 88p at 2965p.
African and North Sea explorer Tullow Oil slipped 45p to 526p after a well off the coast of Gabon failed to find commercially viable oil reserves.
House-builders were on the up after online property search site Rightmove claimed that a surge in property demand in the next five years will increase average house prices by 30%.
Persimmon rose 15p to 1291p. In the FTSE 250 Index, Barratt Developments lifted 5p to 375.4p, Taylor Wimpey progressed 0.7p to 109p, estate agent group Countrywide added 1.2p at 473.6p and Rightmove itself gained 21p to 2002p.
Market Movers
techMARK 2,670.46 -1.03%
FTSE 100 6,339.97 -1.43%
FTSE 250 14,641.58 -1.15% |
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| | FTSE 100 - Risers
AstraZeneca (AZN) 4,300.00p +2.14%
Persimmon (PSN) 1,291.00p +1.18%
Aberdeen Asset Management (ADN) 396.00p +0.69%
easyJet (EZJ) 1,348.00p +0.52%
Hammerson (HMSO) 559.00p +0.45%
RSA Insurance Group (RSA) 465.00p +0.43%
BAE Systems (BA.) 444.70p +0.41%
British Land Co (BLND) 680.00p +0.29%
Travis Perkins (TPK) 1,610.00p +0.25%
BT Group (BT.A) 369.50p +0.14%
FTSE 100 - Fallers
Tullow Oil (TLW) 526.00p -7.88%
Hargreaves Lansdown (HL.) 884.00p -4.17%
Weir Group (WEIR) 2,206.00p -4.09%
TUI Travel (TT.) 343.80p -3.67%
Antofagasta (ANTO) 661.50p -3.57%
ARM Holdings (ARM) 842.50p -3.44%
Morrison (Wm) Supermarkets (MRW) 154.40p -3.32%
BHP Billiton (BLT) 1,613.50p -3.12%
Centrica (CNA) 293.40p -2.98%
Glencore (GLEN) 312.25p -2.95%
FTSE 250 - Risers
Telecom Plus (TEP) 1,342.00p +6.85%
Booker Group (BOK) 123.30p +4.23%
esure Group (ESUR) 227.70p +3.55%
Merlin Entertainments (MERL) 341.00p +2.49%
Domino's Pizza Group (DOM) 582.00p +2.11%
FirstGroup (FGP) 110.40p +1.94%
UBM (UBM) 525.00p +1.84%
Go-Ahead Group (GOG) 2,499.00p +1.59%
TalkTalk Telecom Group (TALK) 268.30p +1.36%
Barratt Developments (BDEV) 375.40p +1.35%
FTSE 250 - Fallers
BlackRock World Mining Trust (BRWM) 350.00p -8.30%
Ophir Energy (OPHR) 194.00p -8.19%
Vedanta Resources (VED) 852.50p -7.69%
Afren (AFR) 97.20p -7.34%
Ladbrokes (LAD) 110.70p -6.66%
CSR (CSR) 671.00p -6.35%
Bodycote (BOY) 565.50p -6.14%
Soco International (SIA) 338.00p -5.06%
AO World (AO.) 159.50p -4.72%
Premier Oil (PMO) 273.50p -4.60%
FTSE TechMARK - Risers
Oxford Biomedica (OXB) 4.25p +8.28%
Filtronic (FTC) 22.50p +1.12%
KCOM Group (KCOM) 92.25p +1.10%
Triad Group (TRD) 14.12p +0.89%
Skyepharma (SKP) 330.50p +0.76%
SDL (SDL) 317.25p +0.71%
RM (RM.) 150.00p +0.59%
FTSE TechMARK - Fallers
Gresham Computing (GHT) 61.25p -10.58%
Torotrak (TRK) 14.50p -6.45%
Innovation Group (TIG) 26.00p -5.45%
BATM Advanced Communications Ltd. (BVC) 15.00p -3.23%
E2V Technologies (E2V) 150.00p -3.07%
Ricardo (RCDO) 639.50p -2.81%
NCC Group (NCC) 182.00p -2.67%
Kofax Limited (DI) (KFX) 366.25p -2.66%
Electronic Data Processing (EDP) 74.50p -2.61% |
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| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe close: Stocks end lower amid fears on economic global growth European stocks ended the week lower on weak German data, concerns on global economic growth and the Ebola crisis.
German data this week showed exports, industrial production and factory orders fell in August.
"The powerhouse of Europe has failed to drag the rest of Europe into the next phase of recovery and is increasingly looking like it will be dragged back into recession due to the burden of its neighbours," said IG analyst Alastair McCaig.
European Central Bank President Mario Draghi noted that growth momentum has weakened in a speech at the 30th meeting of the International Monetary and Financial Committee on Friday.
Domestic demand should be supported by the ECB's policy measures, an improvement in financial conditions and recent structural reforms across euro-area countries, Draghi said.
However, joblessness still remains "high" and unused capacity is "sizeable", he said.
The International Monetary Fund (IMF) this week highlighted the Eurozone's stagnant recovery as it lowered its global growth forecast for this year and next.
Meanwhile, travel stocks were dragged lower amid fears over the Ebola crisis. The UK has decided to screen for signs of the virus at its borders after a Spanish nurse became infected, the first case reported outside of West Africa. As many as 13 people in Spain are being checked for signs of Ebola, a Madrid hospital said.
Air France-KLM Group and Thomas Cook Group were among the big fallers in the travel sector.
Tryg A/S gained after the Nordic property-and-casualty insurer posted third-quarter net income that beat analysts' estimates.
STMicroelectronics slumped after US peer Microchip said that slowing sales in China affected its quarterly performance.
The euro fell 0.45% to $1.2634. |
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| | US Market Report | | US open: Markets edge forward after Thursday's decline US stocks rose slightly on Friday, as the markets tried to put the biggest decline since April, on Thursday, behind them. Data released on Friday showed that import prices fell 0.5% month-on-month in September, slightly better than the 0.7% drop analysts had anticipated.
The decline was driven mainly by petroleum products, which fell 2.0% on the month, while non-petroleum import prices decreased 0.2%.
Total import prices fell 0.9% year-on-year, a larger drop than the -0.1% fall seen in the previous month, while non-petroleum import prices increased 0.7% from the corresponding period 12 months ago, dropping off slightly from the 0.9% hike in August, which was its highest in nearly three years.
Consumer goods import prices, excluding automobiles, rose 0.9% year-on-year, up from 0.8% in August.
"Import price deflation has pushed down on core consumer goods prices over the past two years," analysts at Barclays said in a note.
"They are now rising modestly, suggesting this weight is easing, although further strengthening in the dollar could change this picture in the coming months."
In corporate news, Tesla Motors unveiled its latest Model S car late on Thursday but slid significantly early in the session, while Juniper Networks fell after announcing on Thursday that third-quarter revenue and adjusted earnings are likely to come in below its previous estimates.
Symantec shares dropped slightly after the software maker announced late on Thursday that it plans to split itself into two publicly traded companies, while Exact Sciences shares rallied as the firm's Cologuard test to detect colo-rectal cancer will be covered by Medicare.
Alpha Pro Tech soared as high as 32%, while Lakeland Industries rose sharply on the back of gains from Thursday, as the protective clothing companies benefited from growing concerns over the possibility of an Ebola outbreak.
Gold futures lost 0.4% to $1,220.20 an ounce, while the dollar rose marginally against the pound, euro and yen after registering a new three-week low on Thursday.
The price of West Texas Intermediate crude continued to lose ground, dropping almost 1% and trading at just over $85 a barrel. |
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| | Broker Tips | | Broker tips: ITV, Wood Group, Paper and packaging stocks UBS has upped its target for broadcaster ITV from 210p to 230p and repeated its 'buy' recommendation, highlighting catalysts for the stock in the near term. Retransmission fees, M&A and a "compelling valuation" were cited as reasons behind the UBS' positive investment case on ITV. Specifically, the bank reckons that US media giant Liberty, which bought a 6.4% stake in ITV in July from BSkyB, could potentially look to increase its ownership.
In spite of a well-received trading update the previous session, Wood Group's stock pulled back sharply on Friday after Numis Securities downgraded its rating on the oilfield services and engineering group from 'add' to 'hold' due to oil-price headwinds.
With the price of Brent crude nearing the $89-a-barrel mark on Friday morning, down over a fifth from its June peak, Numis highlighted that as a result of recent acquisitions Wood Group has become "much more levered to oil prices than we had appreciated, particularly in the US onshore market", said analyst Sanjeev Bahl.
Higher prices and favourable exchange rates may lead to higher 2015 forecasts for European paper and packaging makers, according to broker Jefferies International. The broker said DS Smith, Mondi and Smurfit Kappa all had strong balance sheets, giving them increased financial flexibility, although the latter pair were its top picks in the sector. | | |
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