| | | | | | | | | |
| | London Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | London open: UK stocks slip on weak earnings, Burberry drops UK stocks declined on Tuesday as gains in the mining sector were offset by disappointing updates from the likes of Burberry, Hargreaves Lansdown, SABMiller, Michael Page International and Mulberry.
The FTSE 100 was trading 0.4% lower at 6,344 in early trading as the index continues to rumble along at levels not seen since mid-2013.
Investors were also treading cautiously ahead of the latest UK inflation data which is expected to show that annual consumer-price rises eased further to 1.4% in September, from a five-year low of 1.5% in August.
Jameel Ahmad, market analyst at FXTM, said that inflation is expected to remain "way below" the Bank of England's (BoE) target of 2%, which is seen as a threshold for policymakers to consider an increase in interest rates.
"Confirmation of this should signal to investors that although the BoE appear to remain on track to raise rates in spring, they are under no pressure to raise rates any sooner," he said.
Meanwhile, the bad news for Germany's economy is set to continue on Tuesday with the closely-watched ZEW economic sentiment survey forecast to drop to 0 in October, from 6.9 the month before.
Corporate updates disappoint
Burberry delivered double-digit underlying growth in the first half but shares in the high end fashion group slumped in morning trade after the firm said that it has experienced a "more difficult external environment" with a softening in growth from Chinese consumers both home and when travelling.
Top line growth became flatter in the second quarter at SABMiller due to a decline in lager volumes and weakness in China and Australia, with results also likely to be hit by currency headwinds.
Financial services group Hargreaves Lansdown disappointed despite reporting record assets under administration in the first quarter, as it said that investor confidence took a hit after the recent volatility across global markets.
The share price of Michael Page International dived after the recruitment firm delivered a profit warning, saying that its full-year bottom line would be "modestly lower than consensus market expectations". The company said it was more cautious than it was previously on the short-term outlook in a number of international markets.
Similarly, luxury handbag maker Mulberry saw shares drop over 20% after saying that trading conditions in the first half were "more difficult than expected" and that full-year profits would be significantly lower than market expectations.
On a positive note, mining stocks were performing well including Rio Tinto, Anglo American, BHP Billiton and Glencore.
Oil and gas group Afren was a high riser after saying it has fired its chief executive officer Osman Shahenshah and chief operating officer Shahid Ullah for gross misconduct after an independent review found they had received unauthorised payments. |
| | 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 2,653.31 -0.07%
FTSE 100 6,344.27 -0.35%
FTSE 250 14,511.62 -0.22%
FTSE 100 - Risers
Rio Tinto (RIO) 3,166.50p +2.48%
Anglo American (AAL) 1,419.00p +2.23%
ARM Holdings (ARM) 839.00p +2.07%
Fresnillo (FRES) 793.50p +1.93%
BHP Billiton (BLT) 1,684.00p +1.42%
International Consolidated Airlines Group SA (CDI) (IAG) 327.80p +1.14%
IMI (IMI) 1,145.00p +0.88%
CRH (CRH) 1,293.00p +0.86%
Glencore (GLEN) 323.35p +0.86%
Persimmon (PSN) 1,299.00p +0.78%
FTSE 100 - Fallers
Burberry Group (BRBY) 1,413.00p -4.46%
Hargreaves Lansdown (HL.) 839.00p -4.11%
St James's Place (STJ) 667.50p -1.62%
Legal & General Group (LGEN) 219.60p -1.48%
Aviva (AV.) 489.80p -1.45%
InterContinental Hotels Group (IHG) 2,135.00p -1.39%
Randgold Resources Ltd. (RRS) 4,321.00p -1.37%
Standard Life (SL.) 380.10p -1.30%
BP (BP.) 427.00p -1.15%
Admiral Group (ADM) 1,246.00p -1.11%
FTSE 250 - Risers
Ferrexpo (FXPO) 94.70p +4.58%
Afren (AFR) 101.80p +4.46%
Polymetal International (POLY) 499.50p +3.29%
Ted Baker (TED) 1,895.00p +2.43%
Ophir Energy (OPHR) 194.30p +2.10%
Taylor Wimpey (TW.) 110.20p +2.04%
Computacenter (CCC) 601.00p +1.95%
Lonmin (LMI) 177.40p +1.95%
Vedanta Resources (VED) 858.50p +1.78%
Riverstone Energy Limited (RSE) 854.50p +1.73%
FTSE 250 - Fallers
Michael Page International (MPI) 375.00p -9.77%
Hays (HAS) 115.10p -3.20%
Ashmore Group (ASHM) 293.10p -2.75%
SSP Group (SSPG) 230.30p -2.70%
Countrywide (CWD) 453.10p -2.56%
Intermediate Capital Group (ICP) 365.00p -2.14%
Essentra (ESNT) 684.00p -2.01%
Diploma (DPLM) 636.00p -1.85%
Scottish Mortgage Inv Trust (SMT) 209.00p -1.74% |
| | UK Event Calendar | | Tuesday 14 October
INTERIMS
Boohoo.com, Etalon Group Ltd GDR (Reg S)
INTERIM DIVIDEND PAYMENT DATE
Intertek Group, STV Group
QUARTERLY EX-DIVIDEND DATE
Abbott Laboratories
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Industrial Production (EU) (10:00)
ZEW Survey (EU) (10:00)
ZEW Survey (GER) (10:00)
FINALS
Bellway, DotDigital Group, Matchtech Group, Nanoco Group
IMSS
Hargreaves Lansdown, Michael Page International
EGMS
Assura Group Ltd., BCRE - Brack Capital Real Estate Investments N.V. (DI), Investors In Global Real Estate Ltd
AGMS
Frontier Developments, Scancell Holdings, Xplorer
TRADING ANNOUNCEMENTS
Burberry Group, Carpetright, SABMiller
UK ECONOMIC ANNOUNCEMENTS
BRC Sales Monitor (00:01)
Consumer Price Index (09:30)
Producer Price Index (09:30)
Retail Price Index (09:30) |
| | Want to make more money from your capital? | | Last chance to download your copy of Shelly Fords free guide on International Factoring - Exclusively covering ways to make money money from your capital!
Download your FREE GUIDE here |
| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks slide ahead of UK inflation and German investor confidence data European stocks declined ahead of the release of UK inflation data and a report on German investor confidence.
Analysts predict the UK's consumer price index rose 1.4% year-on-year in September, easing back from 1.5% in the previous month.
The data comes after the Bank of England (BoE), which is targeting inflation of 2%, last week announced that it would keep interest rates at 0.5%.
BoE Governor Mark Carney on Monday told CNBC that weak global demand is dragging down inflation, which the central bank will take into consideration.
In Germany, the ZEW Center for European Economic Research index of investor and analyst expectations is expected to fall to 0 in October from 6.9 in September.
"Germany has been struggling economically which will be a very worrying sign for MarioDraghi and the ECB," said Alpari UK analyst James Hughes.
"As we know the European Central Bank (ECB) have been trying to throw everything they can at dragging the Eurozone economy out of the mire, the issue being that without a strong performance from the area's largest economy it will be almost impossible for anything to help the Eurozone.
"We are of course all waiting on a full round of quantitative easing from the ECB and the waiting and uncertainty is likely to show in today's ZEW reading."
As Europe's largest lender and the rest of the Eurozone struggle with economy recovery, ECB President Mario Draghi's bond-buying plan to save the bloc goes on trial on Tuesday.
The EU's Court of Justice will decide whether Draghi's ECB overstepped its powers in 2012 with its programme to buy the debt of strained countries if needed.
Burberry, Iliad
Burberry declined after the UK fashion company forecast downward pressure on retail and wholesale margins.
Iliad gained as it pulled a plan to buy a majority stake in T-Mobile US.
SABMiller declined as the UK brewer reported a rise in half-year revenue that missed expectations.
The euro fell 0.39% to $1.2702. |
| | 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 close: Markets slide amid concerns on global economic growth US stocks fell on Monday, as Federal Reserve officials said higher interest rates might not be introduced in the near future in the event of a slowdown in the global economy, while the dollar weakened and crude futures continued to fall.
The Dow Jones Industrial Average closed down 222.65 to 16,321.45 points, its fifth straight session of triple-digit moves, while the S&P dropped 31.38 to 1,874.75 points and the Nasdaq lost 62.58 closing at 4,213.66 points
"The Fed and the Bank of England will proceed only gradually, benefiting from a benign inflation outlook," said Holger Schmieding, chief economist at Berenberg said.
"The shadow of the financial crisis is receding, but it still hangs over economies for now. By end-2016 we expect the Fed's key interest rate to have reached 2.5%, compared to 2.0% in the UK.
"But the rather rough patch in the Eurozone will be weighing on the Fed and BoE's decisions and may cause them to delay the first hike."
Investors are expected to focus their attention to the earnings season, which begins in its earnest on Tuesday, with JP Morgan and Citigroup among the businesses due to the report.
In corporate news, CSX rose 5.88% in the first session of the week after the Wall Street Journal reported that Canadian Pacific Railway approached the firm about a tie-up which, according to the sources cited in the report, was rejected by the transportation supplier.
Lakeland Industries soared 47.48% as fears related to the Ebola virus continued to grow, while Alpha Pro Tech also rallied on the back of concerns related to the virus, rising 33.92%.
Tekmira Pharmaceuticals, one of the pharmaceutical companies whose TKM-Ebola has been used to halt the virus gained 3.90%, while Ibio surged following news that the firm may become part of the government's efforts to increase the production of experimental drug Zmapp.
JC Penney fell 0.84% after the retailer announced that Home Depot executive Marvin Ellison will succeed current chief executive Myron Ullman from next year, while Yahoo fell 3.08% despite having its shares upgraded from 'hold' to 'buy' by BGC.
Synergy Health soared 31.43% after Steris confirmed it had agreed to buy the British firm in a deal worth $1.9bn in cash and stock, while Luxottica, the world's largest eyewear company, tumbled 9.07% after its chief executive officer quit following a dispute about appointments to the board.
After the bell, Quantum announced it expected second quarter revenues to amount to $135m.
Gold futures gained as much as 1.3% to $1,238 an ounce, the highest price since 17 September and closed the day at $1,233.30 , while the price of West Texas intermediate crude continued to decline, losing almost one percentage point as oil traded at just over $85 a barrel.
The dollar rose marginally against the pound but dropped back against the euro and the yen, reaching its lowest level against the Japanese currency since 16 September.
S&P 500 - Risers
CSX Corp. (CSX) $31.70 +5.88%
Diamond Offshore Drilling Inc. (DO) $36.33 +2.60%
Apartment Investment & Management Co. (AIV) $33.44 +2.11%
Peabody Energy Corp. (BTU) $10.30 +1.93%
F5 Networks Inc. (FFIV) $109.11 +1.86%
Southern Co. (SO) $45.85 +1.64%
Avon Products Inc. (AVP) $11.41 +1.51%
Wisconsin Energy Corp. (WEC) $46.23 +1.47%
Cognizant Technology Solutions Corp. (CTSH) $43.93 +1.43%
Symantec Corp. (SYMC) $22.25 +1.41%
S&P 500 - Fallers
QEP Resources Inc (QEP) $23.04 -9.22%
LyondellBasell Industries (LYB) $86.59 -8.89%
AutoNation Inc. (AN) $47.21 -8.01%
Newfield Exploration Co (NFX) $27.85 -7.81%
Halliburton Co. (HAL) $50.26 -7.42%
Nabors Industries Ltd. (NBR) $17.57 -6.84%
Eog Resources Inc. (EOG) $83.76 -6.76%
Delta Airlines Inc. (DAL) $30.90 -6.11%
Chesapeake Energy Corp. (CHK) $17.83 -6.01%
First Solar Inc. (FSLR) $50.51 -5.98%
Dow Jones I.A - Fallers
Merck & Co. Inc. (MRK) $56.14 -4.30%
Walt Disney Co. (DIS) $83.91 -2.74%
American Express Co. (AXP) $82.78 -2.60%
Pfizer Inc. (PFE) $28.47 -2.27%
Home Depot Inc. (HD) $90.60 -2.11%
Johnson & Johnson (JNJ) $99.12 -2.08%
Nike Inc. (NKE) $85.39 -2.06%
Cisco Systems Inc. (CSCO) $22.93 -1.76%
McDonald's Corp. (MCD) $90.73 -1.70%
Unitedhealth Group Inc. (UNH) $83.95 -1.69%
Nasdaq 100 - Risers
F5 Networks Inc. (FFIV) $109.11 +1.86%
Cognizant Technology Solutions Corp. (CTSH) $43.93 +1.43%
Symantec Corp. (SYMC) $22.25 +1.41%
Vimpelcom Ltd Ads (VIP) $5.80 +1.40%
Staples Inc. (SPLS) $12.11 +1.34%
Vertex Pharmaceuticals Inc. (VRTX) $105.91 +1.13%
Sirius XM Holdings Inc (SIRI) $3.19 +0.63%
Check Point Software Technologies Ltd. (CHKP) $66.40 +0.20%
Catamaran Corp (CTRX) $41.05 +0.20%
Facebook Inc. (FB) $72.99 +0.11%
Nasdaq 100 - Fallers
Expedia Inc. (EXPE) $76.34 -5.75%
Tesla Motors Inc (TSLA) $224.60 -5.20%
Applied Materials Inc. (AMAT) $18.92 -4.61%
Western Digital Corp. (WDC) $86.47 -4.41%
Nxp Semiconductors Nv (NXPI) $53.86 -4.40%
Biogen Idec Inc. (BIIB) $301.73 -4.26%
Celgene Corp. (CELG) $87.48 -3.79%
Sandisk Corp. (SNDK) $82.81 -3.79%
KLA-Tencor Corp. (KLAC) $65.61 -3.61% |
| | FREE £20 to invest on our peer to business lending platform | | Lend to businesses and earn average gross yields of 16%.
Join today and get a £20 head start in this new financial market. Register your details here to receive £20 FREE |
| | Newspaper Round Up | | Tuesday newspaper round-up: Ebola, Jimmy Choo, Afren Passengers arriving at Heathrow Terminal One will have their temperatures checked for suspected Ebola symptoms from Tuesday, the Guardian reported. The UK health secretary Jeremy Hunt said it was likely that Ebola would be diagnosed in the UK within the next three months but added that the best estimates suggested there would be less than 10 cases between now and the end of 2014. Hunt said government's health officials estimated 89% of passengers arriving into the UK from Liberia, Sierra Leone and Guinea would be identified by screening at the border but the authorities are relying to some extent on travellers “self-presenting”. Speaking on Monday the health secretary, Jeremy Hunt, highlighted the urgency of containing the spread of the deadly tropical virus Ebola, saying that it is becoming as serious as the Aids epidemic. That came as Margaret Chan, head of the World Health Organisation, warned that the outbreak had “moved from a public health crisis to become a crisis for international peace and security”, writes The Times. Jimmy Choo, the British luxury shoemaker, is likely to float at a lower price than initially expected, The Daily Telegraph reported. The firm has decided to cut its stock market value from an estimated £700m to £620m, as other companies, such as Aldermore and Virgin Money are also set to make their debut on the London Stock Exchange, with the former facing pressure from investors to cut its flotation price. The iconic fashion outfit will now ask new investors for between 140p and 160p a share, at the lower end of its original price range of 140p to 180p. Following an independent review by Willkie Farr&Gallagher, the law firm, Africa-focused oil explorer Afren has fired two of its senior directors. The lawyers were brought in to analyse unauthorised payments by members of management. Management has instructed the company’s counsel to initiate legal proceedings against the two. Spending on the high street and online stores was 0.8% lower in September than in the same month of a year earlier, according to the British Retail Consortium (BRC). That was due to the combination of an unusually warm September, continued weakness in supermarket spending and a dip in the rapid growth of internet sales. The figures mark the weakest underlying performance since the depths of the 2008-09 recession, The Guardian says. Ireland is expected to announce changes to its tax code that could lead to the closure of one of the world’s most famous corporate-tax loopholes, The Wall Street Journal Europe reported on Tuesday. The loophole, labeled the "Double Irish", allows royalty payments for intellectual property from one Irish-registered subsidiary to another that resides for tax purposes in a country with no corporate income taxes. "Any changes to Ireland’s taxation system is a decision to be taken by government as part of the budgetary process", said a spokesman for the Irish finance ministry. | | |
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