| | | | | | | | | |
| | 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 as investors await MPC minutes UK stocks opened with small losses on Wednesday as investors paused for breath following a surge the previous session.
The FTSE 100 was trading 0.2% lower at 6,360 in early deals.
London's benchmark index jumped 1.7% to a one-week closing high of 6,372 on Tuesday on reports that the European Central Bank (ECB) is considering buying corporate bonds on the secondary market in a bid to boost Eurozone growth.
Economic expansion in China was also still in focus after data showed a slowdown to 7.3%, albeit not as bad as feared, in the third quarter. China's premier Li Keqiang was reported as saying overnight that growth is still in a "reasonable range".
"After slowing [growth] confirmed yesterday, it would appear ECB consideration of more stimulus is enough for markets to offset worries about China," said Mike van Dulken, head of research at Accendo Markets.
However, Belgian daily De Tijd reported that ECB governing council member Luc Coene said Frankfurt has no concrete plans to buy corporate bonds.
Market sentiment on Wednesday morning will likely be dominated by the minutes of the latest Monetary Policy Committee (MPC) meeting at the Bank of England.
According to analysts at Capital Economics, the minutes of the October meeting due at 09:30 "seem likely to indicate that the Committee is still several months away from voting to raise interest rates" after the drop in inflation to 1.2% in September.
BAT under pressure, BHP edges higher
British American Tobacco was among the worst performers after reporting that revenue growth slowed in the third quarter as depressed consumer income met large tax-driven price rises. Sector peer Imperial Tobacco was also unwanted.
The share price of BHP Billiton inched up after the mining giant said that production growth remained steady at 9% in the first quarter, driven by increases in iron ore and petroleum.
Home-credit business International Personal Finance saw shares jump after a slowdown in profit growth in the third quarter matched analysts' expectations as a result of higher spending and currency movements.
Argos and Homebase owner Home Retail dropped as the company cautioned that the group's full-year results would depend on a good Christmas for Argos.
Supergroup shares were under pressure after the fashion retailer announced that the former chief executive of the troubled Co-operative Group would become its new boss, replacing founder Julian Dunkerton.
A strong third-quarter performance from Laird followed major customer Apple's hugely successful iPhone 6 launch, accelerating revenue growth for the electronic components group and causing shares to rise on Wednesday.
Marketing and events group UBM was also higher as it said it is on track to hit targets on an underlying basis after performing well in the third quarter. |
| | The Share Centre | | Trade Online – Just £7.50 Per Deal
Fix Your Dealing Commission Now
Simply Easier
(Capital at Risk) |
| Market Movers
techMARK 2,654.10 +0.45%
FTSE 100 6,359.50 -0.20%
FTSE 250 15,108.69 +0.56%
FTSE 100 - Risers
ARM Holdings (ARM) 832.00p +3.23%
Smith & Nephew (SN.) 984.00p +2.29%
Admiral Group (ADM) 1,271.00p +2.25%
International Consolidated Airlines Group SA (CDI) (IAG) 375.20p +1.41%
Direct Line Insurance Group (DLG) 274.80p +1.36%
Whitbread (WTB) 4,255.00p +1.31%
Old Mutual (OML) 180.30p +1.29%
Aviva (AV.) 504.50p +1.28%
Ashtead Group (AHT) 988.00p +1.18%
London Stock Exchange Group (LSE) 1,911.00p +1.16%
FTSE 100 - Fallers
British American Tobacco (BATS) 3,314.50p -4.38%
Sainsbury (J) (SBRY) 246.30p -1.48%
Morrison (Wm) Supermarkets (MRW) 160.00p -1.30%
Tesco (TSCO) 183.50p -1.29%
Centrica (CNA) 290.90p -1.22%
Imperial Tobacco Group (IMT) 2,522.00p -1.14%
Fresnillo (FRES) 800.00p -1.05%
Diageo (DGE) 1,739.00p -0.91%
Smiths Group (SMIN) 1,181.00p -0.84%
GlaxoSmithKline (GSK) 1,332.50p -0.71%
FTSE 250 - Risers
Playtech (PTEC) 736.00p +4.84%
Laird (LRD) 307.40p +4.31%
International Personal Finance (IPF) 473.00p +3.50%
Brewin Dolphin Holdings (BRW) 273.20p +3.29%
Synthomer (SYNT) 216.00p +3.15%
esure Group (ESUR) 228.70p +3.06%
Croda International (CRDA) 2,150.00p +2.72%
Domino Printing Sciences (DNO) 597.00p +2.58%
Tullett Prebon (TLPR) 273.60p +2.32%
Henderson Group (HGG) 197.90p +2.12%
FTSE 250 - Fallers
Supergroup (SGP) 992.50p -3.55%
Home Retail Group (HOME) 170.50p -2.90%
Evraz (EVR) 127.30p -1.77%
Brit (BRIT) 236.40p -1.50%
Poundland Group (PLND) 317.70p -1.34%
William Hill (WMH) 358.90p -1.21%
Barr (A.G.) (BAG) 576.50p -1.11%
BlackRock World Mining Trust (BRWM) 369.10p -1.05%
Senior (SNR) 272.70p -0.98% |
| | UK Event Calendar | | Wednesday October 22
INTERIMS
Development Securities, Home Retail Group
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Consumer Price Index (US) (13:30)
Crude Oil Inventories (US) (15:30)
MBA Mortgage Applications (US) (12:00)
Q3
ARM Holdings, GlaxoSmithKline, Nord Gold NV GDR (Reg S), Norsk Hydro ASA, Orange Polska S.A. GDR (Reg S)
FINALS
Spirit Pub Company, Xeros Technology Group
ANNUAL REPORT
Kirkland Lake Gold Inc.
IMSS
British American Tobacco, Computacenter, International Personal Finance, Laird, Playtech, Senior
EGMS
Global Ports Investments GDR (REG S)
AGMS
FinnAust Mining, Ingenious Media Active Capital Ltd., Kirkland Lake Gold Inc.
TRADING ANNOUNCEMENTS
Playtech, Plus500 Ltd (DI)
UK ECONOMIC ANNOUNCEMENTS
BoE Interest Rate Minutes (09:30)
FINAL DIVIDEND PAYMENT DATE
Rank Group
|
| | £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 open: ECB speculation continues apace, shares rise European equities started the Wednesday session in a mixed fashion despite sharp gains overnight on Wall Street, as investors took conscience of the fact that additional stimulus from the European Central Bank (ECB) may not be as immediate a possibility as some had thought.
In remarks published by two Belgian dailies on Wednesday morning ECB governing council member Luc Coene said: "If we limit ourselves to buying covered bonds and asset backed securities there is a risk that we would pay too high a price. We can prevent that by also buying corporate bonds," the central banker said, adding, "but there is no concrete proposal for that on the table."
Be that as it may, on Wednesday morning The Wall Street Journal Europe ran an article saying that such a plan was indeed under consideration.
As of 09:15 the Dax Xetra was gaining 0.47% to 8,928.63 but Madrid's Ibex 35 and The FTSE Mibtel were barely higher by 0.08% each in the early going.
Coming on the heels of the S&P 500's largest percentage point gain in a year, on Tuesday, and also helping sentiment somewhat, shares of Yahoo rose 4% in after-hours trading following the company's latest quarterly results.
The Nikkei-225 ended the Wednesday session with near 3% gains, although Shanghai's benchmark index fell by 0.56%. China's benchmark money-market rate, the seven-day repurchase rate, dropped by six basis points to 2.89%. On Tuesday the country's central bank injected up to 300bn yuan into 11 lenders.
In Britain the focus was to be on the minutes from the Monetary Policy Committee's last rate setting meeting. Over the last few weeks markets had pushed out the expected date of a first increase in Bank Rate to the third quarter of 2015.
Stateside all eyes would be on the latest consumer price (CPI) figures, for the month of September. Barclays Research expects the headline US consumer price index to fall by 0.5 percentage points in the last quarter of the year in seasonally adjusted and annualised terms, providing a net boost to the country's rate of GDP growth worth 0.4 percentage points.
To take note of, such a drop is a rare event outside of recessions, the economists wrote to clients in research published on 17 October.
From a sector standpoint the best performance on the DJ Stoxx 600 was to be seen in the following industrial groups: Financial services (0.99%), Automobiles&Parts (0.92%) and Industrial goods and services (0.61%).
No significant economic data releases were expected on the Continent on Wednesday.
The euro/dollar was edging higher by 0.02% to 1.2717. |
| | 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 rally after Europe stimulus and Apple's results US markets rallied on Tuesday, with investors speculating that the European Central Bank (ECB) might boost economic stimulus, while Apple drove the benchmarks forward after strong results.
The Dow Jones Industrial average closed 215.20 points up to 16,614.87, while the S&P 500 rose 1.95% to 1,941.20 points, above its 200-day moving average, and the Nasdaq closed up 2.40% to 4,419.48 points.
Meanwhile, sales of existing homes rose 2.4% in September to a seasonally adjusted annual rate of 5.17m, growing at the fastest pace in the last 12 months and hitting back from an unexpected drop in August.
The reading was largely in line with analysts' expectations that had forecasted the sales rate to increase from 5.05m to 5.1m but, according to figures released by the National Association of Realtors, September's pace of sales fell 1.7% year-on-year.
Apple rose 2.72% reporting a 13% rise in profit after the bell on Monday, boosted by strong demand for its new bigger-screen iPhones, as the California-based technology giant exceeded analysts' expectations.
Morgan Stanley lifted its price target on Apple from $110 to $115, as analysts at the investment bank predicted that increasing iPhone demand and gross margin expansion will drive the share price up even further.
Travelers Cos and United Technologies rose 1.12% and 0.52% respectively after posting results, while McDonald's shares slid 0.64% the fast-food giant saw its profit drop by 30% in the third quarter.
Coca-Cola fell 6.03% after the company's revenue dropped and the soft-drinks producer warned it had lowered its long-term revenue target and announced it did not expect to meet its earnings view, while Harley Davidson rose 7.31% after posting better than expected profits.
Chipotle Mexican Grill shares dropped 6.96% after the firm warned sales growth might slow, despite reporting better than expected earnings late on Monday, while Yahoo edged forward ahead of its results, which are due after the bell on Tuesday.
The dollar rose slightly against the yen and more significantly against the euro and the pound.
West Texas intermediate crude rebounded after a couple of negative sessions, gaining about over half a percentage point and trading at just under $82.50 a barrel, while gold futures edged forward to $1,249.10.
The yield on the 10-year Treasury note rose three basis points to 2.22%, while the yield on the 30-year US note edged forward by the same margin to 3.00 and the yield on the five-year Treasury note moved forward by two basis points to 1.42.
S&P 500 - Risers
Waters Corp. (WAT) $107.17 +9.87%
Harley-Davidson Inc. (HOG) $62.66 +7.33%
United States Steel Corp. (X) $36.16 +6.45%
Phillips 66 Common Stock (PSX) $76.79 +6.14%
Carnival Corp. (CCL) $38.00 +5.79%
Avago Technologies Ltd. (AVGO) $82.38 +5.63%
TripAdvisor Inc. (TRIP) $88.08 +5.43%
Robert Half International Inc. (RHI) $49.37 +5.38%
Southwest Airlines Co. (LUV) $34.60 +5.36%
Marathon Petroleum Corporation (MPC) $84.93 +5.32%
S&P 500 - Fallers
Chipotle Mexican Grill Inc. (CMG) $608.05 -6.89%
Coca-Cola Co. (KO) $40.68 -6.03%
International Business Machines Corp. (IBM) $163.20 -3.49%
Lockheed Martin Corp. (LMT) $172.46 -1.75%
Integrys Energy Group Inc. (TEG) $68.84 -0.88%
HCP Inc. (HCP) $42.56 -0.82%
Coca-Cola Enterprises Inc. (CCE) $41.63 -0.67%
Consolidated Edison Inc. (ED) $61.05 -0.67%
ConAgra Foods Inc. (CAG) $34.05 -0.64%
McDonald's Corp. (MCD) $91.01 -0.63%
Dow Jones I.A - Risers
Intel Corp. (INTC) $32.59 +3.20%
Chevron Corp. (CVX) $115.05 +3.19%
Unitedhealth Group Inc. (UNH) $90.92 +2.69%
Visa Inc. (V) $213.31 +2.63%
Home Depot Inc. (HD) $94.21 +2.57%
Cisco Systems Inc. (CSCO) $23.51 +2.53%
3M Co. (MMM) $140.90 +2.40%
Walt Disney Co. (DIS) $87.53 +2.35%
JP Morgan Chase & Co. (JPM) $57.93 +2.30%
Boeing Co. (BA) $127.12 +2.26%
Dow Jones I.A - Fallers
Coca-Cola Co. (KO) $40.68 -6.03%
International Business Machines Corp. (IBM) $163.20 -3.49%
McDonald's Corp. (MCD) $91.01 -0.63%
Nasdaq 100 - Risers
Illumina Inc. (ILMN) $179.55 +9.17%
Avago Technologies Ltd. (AVGO) $82.38 +5.63%
TripAdvisor Inc. (TRIP) $88.08 +5.43%
Texas Instruments Inc (TXN) $46.77 +5.31%
Symantec Corp. (SYMC) $23.67 +5.25%
Nxp Semiconductors Nv (NXPI) $64.64 +5.11%
Micron Technology Inc. (MU) $31.19 +5.05%
Sandisk Corp. (SNDK) $88.63 +5.04%
Biogen Idec Inc. (BIIB) $326.77 +4.93%
Amgen Inc. (AMGN) $144.08 +4.78%
Nasdaq 100 - Fallers |
| | At The World MoneyShow London, 7-8 November 2014.
You will hear from 30+ top investing and trading experts in person; receive the newest share, fund, and ETF recommendations for the UK and beyond; and all told, will find more reliable portfolio advice here than is available anywhere else! That’s why this event has won top honours for both investors and traders for 7 years running!
Click Here to Register |
| | Newspaper Round Up | | Wednesday's newspaper round-up: RBS, Tesco, Lloyds Royal Bank of Scotland (RBS) has avoided €115m of fines for alerting the European commission’s competition regulator to two attempts to fix the prices of key interest rates, the Daily Telegraph reported on Wednesday. The bank, which is 81%-owned by the taxpayer, was hit by £390m last year for manipulating Libor by US and UK regulators but it was granted immunity from a €110m fine after admitting to the commission it had tried to influence Swiss franc interest rates with JP Morgan. The American bank was fined €61.7m – receiving a 40% discount for co-operating with the investigation into Swiss franc Libor-rigging between March 2008 and July 2009. Tesco is set publish the details of its new chief executive’s multimillion-pound "golden hello", the Guardian reported. Upon being appointed by the supermarket giant, Dave Lewis was told he would be compensated for the share bonuses he amassed over the course of a 28-year career at Unilever. The details were not published to the stock exchange when his appointment was announced on 21 July, but are set to be revealed after the stricken retail giants announces its half-year results on Thursday. Lewis is expected to be paid an annual salary of £1.25m and £525,000 in lieu of his annual bonus from Unilever, as well as being handed awards of Tesco shares equivalent in value to those he left behind at Unilever. Lloyds Banking Group has said at least 60,000 new homes need to be built in Britain every year above the current level of supply to ease the country's housing shortage, the Financial Timesreported. The lender announced it will set up a £50m equity fund in 2015 for smaller house builders to help increase supply, adding it could expand the funding and even work with investment partners or government schemes. Austerity is a virtue for corporates as well. That is the recommendation form analysts at HSBC toTesco executives. In a report in which they estimate that the grocer’s turn-around will take six years and £3bn to implement the broker says the firm should return to its roots. They are referring to founder Jack Cohen’s or Wal Mart’s frugality. Amongst other measures, they also suggest the company should contemplate reducing the headcount at its head office by several thousands, slash prices, raise wages and introduce austere travel policies, writes The Times. In the third quarter the rate of economic growth in China slipped to its slowest in five years, weighed on by an ailing property sector. Ironically, it was the nation’s obsession which helped keep a more serious decline in check. The latest GDP data, when combined with recent weaker readings on other economic indicators, which suggested there are risks of deflation, means the country’s leadership is under pressure and the central may be slowly headed towards two 25 basis point interest rate cuts over the next six months, according to economists at Barclays, The Times reports. Speaking to the House of Lords’ European economic and financial affairs sub-committee Douglas Flint, HSBC chairman, said regulatory changes aimed at ring-fencing retail deposits, could cost the lender up to £2bn, according to The Times. | | |
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