| | | | | | | | | |
| | 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 as markets rebound The FTSE ended Friday's session on a positive note after a week of volatile and largely negative trading. The top tier index settled 114.38 points higher at 6,310.29, limiting the week's losses to 32.63, or 0.51%.
"In London equities are finishing the week on a positive note as Greek bond yields retreat," said IG market analyst David Madden.
"The fear has evaporated out of the Eurozone today as the bond markets have calmed down, but I wouldn't get too comfortable as next week is likely to be a rocky ride.
"The Eurozone debt crisis has a history of rearing its ugly head, Ebola has yet to be contained, China's GDP report will tell us the golden days of Chinese growth are over. Confidence in equity markets takes months to be gained, but it is lost in hours."
It was a relatively quiet session in the UK, although the chief economist at the Bank of England did reveal that he has become "gloomier" about the economy, saying that interest rates could remain at their record-low level of 0.5% for a little while longer.
Speaking at the Kenilworth Chamber of Trade Business breakfast, Andy Haldane explained that the UK economy is "twin-peaked" and appears to be "writhing in both agony and ecstasy".
Positive US data provides lift
A report showed US housing starts rose 6.3% in September following a 12.8% drop a month earlier, compared to expectations of a 5.4% increase.
Meanwhile, the University of Michigan's consumer confidence index rose to 86.4 in October, higher than the 84 consensus forecast and in line with the previous month's reading.
"The rise in consumer confidence to a seven-year high in October is another indication that the US economic outlook remains strong," commented analysts at Capital Economics.
"That said, the preliminary survey results pre-date the recent equity market sell-off, so the final survey reading could come in substantially lower."
Oil stocks lead FTSE higher
Tullow Oil, Shell and a number of other oil companies all ended in positive territory thanks to a continued rebound in crude prices.
Fears about an oversupply of oil saw West Texas Intermediate (WTI) crude drop below $80 a barrel this week, while Brent futures sank to a four-year low of $83.78 a barrel. Oil services stocks have sunk sharply as of late on concerns that depressed oil prices may prompt producers to scale back their project spend.
Oilfield services group Petrofac also ended higher after saying it is on track to hit profit targets this year, as its backlog improved over the third quarter and net debt reduced.
Power systems giant Rolls-Royce saw its shares sink after saying it now expects underlying sales to fall 3.5-4% this year on the back of worsening trading conditions, compared with its previous forecast for no change. It also warned that growth might not return in 2015, as previously expected, with underlying revenue guidance for next year now at +/-3%.
UK building merchant Travis Perkins also traded lower after reporting that like-for-like sales continued to slow in the third quarter as it saw a "very challenging" plumbing and heating market.
Synthomer shares climbed after one of its directors, Malaysian plantation magnate Dato' Lee Hau Hian, this week purchased multiple batches of shares, helping the group's share price recover from a 12-month low in the wake of recent mixed interim results.
|
| | PROVEN Trading Strategy - Currently running at 70% success rate | | Earn a tax free income trading, from just 20 minutes a day – no experience needed. Our powerful trading software will help you decide when to enter trades and how to maximise profits.
Register for a FREE brochure and trading guide, Click Here. |
| | Market Movers
techMARK 2,623.74 +1.50%
FTSE 100 6,310.29 +1.85%
FTSE 250 14,757.62 +1.92%
FTSE 100 - Risers
Tullow Oil (TLW) 524.00p +8.29%
Petrofac Ltd. (PFC) 1,060.00p +7.34%
Hargreaves Lansdown (HL.) 921.00p +5.74%
Sports Direct International (SPD) 606.50p +5.48%
Sainsbury (J) (SBRY) 244.80p +5.06%
Royal Mail (RMG) 431.70p +4.63%
Smith & Nephew (SN.) 946.50p +4.47%
CRH (CRH) 1,319.00p +4.19%
Ashtead Group (AHT) 961.00p +4.12%
SABMiller (SAB) 3,285.50p +4.10%
FTSE 100 - Fallers
Rolls-Royce Holdings (RR.) 832.00p -11.54%
Randgold Resources Ltd. (RRS) 4,224.00p -3.56%
Fresnillo (FRES) 798.00p -2.09%
Admiral Group (ADM) 1,222.00p -1.45%
Travis Perkins (TPK) 1,621.00p -0.98%
AstraZeneca (AZN) 4,186.50p -0.91%
Experian (EXPN) 935.50p -0.32%
British Sky Broadcasting Group (BSY) 849.00p -0.12%
Anglo American (AAL) 1,365.00p -0.11%
Pearson (PSON) 1,131.00p -0.09%
FTSE 250 - Risers
Just Eat (JE.) 275.60p +8.04%
IP Group (IPO) 198.80p +7.11%
Thomas Cook Group (TCG) 110.20p +6.89%
Ophir Energy (OPHR) 194.40p +6.75%
Alent (ALNT) 323.10p +5.66%
EnQuest (ENQ) 76.75p +5.57%
Man Group (EMG) 117.90p +5.55%
Aveva Group (AVV) 1,476.00p +5.28%
International Personal Finance (IPF) 450.80p +5.25%
Cairn Energy (CNE) 163.00p +5.16%
FTSE 250 - Fallers
Centamin (DI) (CEY) 55.85p -3.62%
Synergy Health (SYR) 1,744.00p -1.75%
African Barrick Gold (ABG) 198.00p -1.35%
Rightmove (RMV) 2,039.00p -1.31%
JD Sports Fashion (JD.) 419.10p -1.06%
Domino Printing Sciences (DNO) 579.50p -1.02%
Brown (N.) Group (BWNG) 305.40p -0.84%
Micro Focus International (MCRO) 992.00p -0.75%
Zoopla Property Group (WI) (ZPLA) 200.00p -0.55%
Perform Group (PER) 259.70p -0.50% |
| | £12,000 return in 6 years | | See your money fly in a proven UK-based, in-demand alternative investment opportunity. Only recently made available to the general market, you can benefit from up to 12% returns and a buyback option in year 5 – all in a VAT exempt, hands-off, hassle-free and secure investment package.
Interested? Click here for more information |
| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe close: Stocks end higher on upbeat data in Eurozone, US European stocks ended the week on a high note after better-than-expected economic reports were released in the Eurozone and US. Eurostat shifted its level of EU and euro-area gross domestic product upward in its first estimates since the adoption in 2010 of European System of National and Regional Accounts (ESA), an accounting framework.
Construction in the Eurozone rose by 1.5% in August compared to a month earlier when it increased 0.3%.
Elsewhere in the Eurozone, Greek 10-year government bond yields were down by 85 basis points to 8.13% after they surged on Thursday amid concerns of political instability ahead of the nation's elections and after reports of an early exit of its bailout programme. The latter triggered concerns that Athens might backtrack on its reform commitments.
In another lift to stocks, the European Central Bank's Benoit Coeure said the monetary authority will start buying assets within days as part of its previously-announced measures to stimulate economic growth in the euro-area.
In the UK, the Bank of England's chief economist, Andy Haldane, suggested on Friday that he now sees interest rates staying lower for longer than the February 2015 date that is forecast by analysts.
He cited weaker global growth and lower inflationary pressures as result of the decline in commodity prices and low wage gains.
US confidence rises
The University of Michigan's US consumer confidence index rose to 86.4 in October, higher than the 84 consensus forecast and in line with the previous month's reading.
"The rise in consumer confidence to a seven-year high in October is another indication that the US economic outlook remains strong. That said, the preliminary survey results pre-date the recent equity market sell-off, so the final survey reading could come in substantially lower," according to Capital Economics.
US housing starts rose 6.3% in September following a 12.8% drop a month earlier. Analysts had penciled in a 5.4% increase.
Jimmy Choo begins trading
Jimmy Choo began trading on Friday with its initial public offering priced at the low end of its price range at 140p per share.
Accor rallied after reporting third quarter sales growth that beat analyst forecasts.
Rolls-Royce Holdings dropped after cutting its sales outlook for the full year.
The euro fell 0.41% to $1.2756. |
| | 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 rally after increase in US consumer confidence, housing starts US stocks gained as investors weighed better-than-expected earnings and US data.
A report showed US housing starts rose 6.3% in September following a 12.8% drop a month earlier. Analysts had pencilled in a 5.4% increase.
The University of Michigan's consumer confidence index rose to 86.4 in October, higher than the 84 consensus forecast and in line with the previous month's reading.
In a boost to markets earlier on, St. Louis Fed Bank President James Bullard said the central bank should consider extending its bond-buying beyond the expected end-date of October following a recent drop in inflation expectations. He also told Bloomberg News that US economic fundamentals remain strong.
His remarks on Thursday helped US equities following heavy selling in shares a day earlier on the back of global economic concerns including falling oil prices, Ebola and low inflation in the Eurozone.
Morgan Stanley, Google
Morgan Stanley gained after reported third quarter earnings the beat market estimates.
Google advanced as the search engine fell short of profit and revenue estimates for the third quarter. |
| | The Share Centre | | Trade Online – Just £7.50 Per Deal
Fix Your Dealing Commission Now
Simply Easier
(Capital at Risk) |
| | Broker Tips | | Broker tips: Petrofac, M&S, Travis Perkins Liberum has maintained its cautious stance for oilfield services group Petrofac, but said that the company's third-quarter update on Friday should reassure investors.
The broker reiterated its 'hold' rating and 1,112p target for the stock. However, it said: "The market generally expected Petrofac to miss this year's guidance so confirmation should be met with some relief."
Credit Suisse has slashed its target for the shares of Marks & Spencer by 15%, saying it sees "few signs of recovery" at the high street department store chain. The bank has cut its target from 425p to 360p and repeated an 'underperform' rating on the stock.
It believes hopes are fading for a turnaround and the company's 5% dividend yield is likely to be the only thing providing support for the shares.
Travis Perkins' shares were dented on Friday by the news of a slowdown in growth in the third quarter, but analysts at Charles Stanley remained optimistic, upgrading the stock from 'hold' to 'accumulate'. | | |
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 | |
No comments:
Post a Comment