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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 open: Banks, supermarkets give FTSE 100 a lift Decent gains from banking and supermarket stocks gave the FTSE 100 a boost on Monday morning as the UK's benchmark index continues to recover after hitting a 10-month low last week.
The Footsie was trading 0.4% higher at 6,554 early on, rising for the second straight day after falling to 6,446.39 last Thursday, its lowest close since December 2013.
Markets across Europe got off to a positive start this week "as the positive sentiment following Friday's positive [US] jobs data continues to resonate", according to dealer Jonathan Sudaria from Capital Spreads.
Economic data is likely to continue as the focus for markets on Monday with a wave of figures due out, including German factory orders, the Eurozone retail purchasing managers' index and Sentix investor-confidence numbers.
Germany factory data, released before the open, showed that orders dropped by 5.7% in August after a revised 4.9% increase in July. The consensus estimate was for a lesser fall of 2.5%.
Banks, supermarkets provide a boost
Banking peers Barclays, HSBC, RBS and Standard Chartered were among the best performers on the top-tier index in morning trade.
Grocery giants J Sainsbury, Wm Morrison and Tesco were also on the rise. Tesco's stock was attempting to rebound after a recent sell-off as the company appointed two new non-executive directors - the boss of catering group Compass and the former chief of Swedish furniture giant IKEA are set to joint the board in November.
UK retirement products group Just Retirement was making decent gains in early deals after analysts at Deutsche Bank lifted their rating on the stock from 'hold' to 'buy'. They said that the market has "completely misunderstood" the tax proposals in the most recent government budget.
BTG rose after saying that annual sales would come in at the top end of guidance after a strong start to the year, with the specialist healthcare company entering the second half "confident of continuing this strong momentum".
On AIM, oil and gas explorer Petroceltic International saw shares surge after the company revealed it has received a £491.6m takeover approach from rival Dragon Oil. Petroceltic has told Dragon it would recommend its offer if Dragon gets the required approval from its own shareholders. |
| Market Movers
techMARK 2,797.50 +0.28%
FTSE 100 6,553.53 +0.39%
FTSE 250 15,302.32 +0.47%
FTSE 100 - Risers
easyJet (EZJ) 1,497.00p +2.60%
International Consolidated Airlines Group SA (CDI) (IAG) 371.90p +1.83%
Dixons Carphone (DC.) 375.10p +1.65%
Barclays (BARC) 228.25p +1.63%
BG Group (BG.) 1,083.00p +1.59%
Diageo (DGE) 1,766.50p +1.29%
Prudential (PRU) 1,389.00p +1.20%
AstraZeneca (AZN) 4,413.00p +1.17%
Imperial Tobacco Group (IMT) 2,663.00p +1.14%
Tullow Oil (TLW) 606.00p +1.00%
FTSE 100 - Fallers
TUI Travel (TT.) 389.90p -0.79%
Petrofac Ltd. (PFC) 988.00p -0.75%
United Utilities Group (UU.) 804.00p -0.74%
Severn Trent (SVT) 1,856.00p -0.59%
Meggitt (MGGT) 436.70p -0.50%
BP (BP.) 443.00p -0.45%
Fresnillo (FRES) 717.00p -0.42%
Royal Mail (RMG) 393.00p -0.41%
Aviva (AV.) 518.00p -0.29%
Travis Perkins (TPK) 1,650.00p -0.24%
FTSE 250 - Risers
Just Retirement Group (JRG) 125.50p +4.32%
Henderson Group (HGG) 205.90p +3.16%
Croda International (CRDA) 2,200.00p +3.04%
Hays (HAS) 119.00p +2.67%
Cairn Energy (CNE) 179.70p +2.28%
Pace (PIC) 314.50p +2.21%
Evraz (EVR) 118.90p +2.15%
Daejan Holdings (DJAN) 4,900.00p +2.08%
Playtech (PTEC) 732.50p +1.88%
Zoopla Property Group (WI) (ZPLA) 218.00p +1.87%
FTSE 250 - Fallers
Euromoney Institutional Investor (ERM) 960.50p -2.98%
JD Sports Fashion (JD.) 429.30p -2.39%
Brit (BRIT) 237.00p -2.31%
Hochschild Mining (HOC) 121.10p -2.18%
Saga (SAGA) 158.50p -2.16%
African Barrick Gold (ABG) 202.80p -1.70%
Lonmin (LMI) 164.60p -1.50%
Cranswick (CWK) 1,307.00p -1.36%
Wetherspoon (J.D.) (JDW) 809.50p -1.28% |
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| | UK Event Calendar | | Monday 6 October
INTERIM DIVIDEND PAYMENT DATE
Dialight, Friends Life Group Limited , Fyffes, Tex Holdings
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Factory Orders (GER) (11:00)
Harmonised Competitiveness Indicators (EU) (09:00)
PMI Construction (GER) (08:30)
PMI Retail (EU) (09:10)
PMI Retail (GER) (09:10)
GMS
British Sky Broadcasting Group, Fresnillo
FINALS
Proactis Holdings, Sabien Technology Group, Waterman Group
UK ECONOMIC ANNOUNCEMENTS
New Car Registrations (09:30)
FINAL DIVIDEND PAYMENT DATE
Pinewood Shepperton |
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| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks gain ahead of Eurozone investor confidence data European stocks gained as investors awaited a report on Eurozone investor confidence and weighed German factory orders data.
The Eurozone investor confidence index, released at 9:30 London time, is expected to fall to -11 in October from -9.8 a month earlier.
German factory orders fell 1.3% year-on-year in August after a 5.9% increase the previous month, missing forecasts for a 2.6% gain.
Weak data is likely to add pressure on the European Central Bank (ECB) to boost stimulus measures such as full-on quantitative easing. Investors are concerned the ECB's asset-buying programme will fail to lift the economy and low inflation.
Markit's purchasing managers' index (PMI) for euro-area retail will also be released in early morning trade.
In corporate news, Erste Group Bank advanced as Goldman Sachs recommended buying the stock.
Aer Lingus Group gained after saying it flew 5.3% more passengers in September.
Norwegian Air Shuttle declined after saying it expects a loss due to hedging positions.
The euro rose 0.12% to $1.2531. |
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| | US Market Report | | US close: Strong US jobs report pushes commodities and cable lower Wall Street finished firmly higher on the last day of the week, buoyed by the release of a clearly stronger-than-expected reading on the state of America's jobs market.
Taken in aggregate the report confirmed that the US economy continues to create sufficient jobs to maintain the recovery, even if the pace of growth is set to slow in the third quarter following a notable bounce-back in the second quarter, according to Barclays.
Economists at the bank estimate US GDP expanded at 4.6% annualised clip in the three months to June and then slowed towards about 3.3% over the three months to September.
Non-farm payrolls rose to 248,000 in September, exceeding the consensus forecast of 215,000, while figures for July and August were revised up by a net 69,000 people, according to the latest data from the Department of Labor.
All of the above led to a notable rise in stocks and, of course, the US dollar, which again took its toll on the commodity space.
By the end of trading cable was to be seen lower by 1.06% at 1.5975, while the euro/dollar was down 1.2% at 1.2520.
The ISM non-manufacturing Index, which was released on the same day, fell to 58.6 in September (from 59.6 in the month before), coming in slightly ahead of consensus expectations for a reading of 58.5.
As regards the outlook for the Federal Reserve after the above data releases, Barclays had this to say to clients: "Altogether, we continue to expect the first rate hike in June of next year, although a March tightening remains a possibility if labour markets continue to improve faster than the FOMC expects."
Berenberg Bank, on the other hand, sees the first increase in the Fed funds rate arriving in April.
Meantime, and in the corporate patch, Radioshack soared by as much as 35% at one point in the session, with investors reacting positively to the news that the retailer had reached a financing agreement, meaning the company may be able to successfully restructure.
Mylan rose after raising its third-quarter and full-year guidance, while Salix Pharmaceuticals and Cosmo Technologies both rose sharply after Salix abandoned plans of merging with the technology firm, which had been structured as a controversial tax-inversion deal.
Tekmira Pharmaceuticals gained amid speculation of an increasing risk of further Ebola cases in the US, while Legacy Reserves fell after announcing it was planning a new unwritten public offering.
From a sector stand-point the largest gains were to be seen in the following industrial groups: Airlines (4.63%), Rail Roads (2.67%) and Recreation (2.58%).
Gold futures for December delivery sank on Friday, losing 1.98% to $1,191 an ounce, while West Texas intermediate crude dropped 1.43% and was trading at $89.71 a barrel. |
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| | Newspaper Round Up | | Monday newspaper round-up: Lloyds, Housing market , London Lloyds Banking Group will cut thousands of staff and close more branches as Britain's largest retail lender embraces a "digitisation" strategy and automates its entire business. Jobs are expected to go in areas such as mortgage processing and new account opening as work completed manually at the moment is computerised to reduce costs and improve customer service. The digital strategy will form the centrepiece of a three-year plan to be unveiled alongside the bank's third-quarter financial results on 28 October. - The Times
Britain's booming housing market will cool down next year as looming interest rate rises and tougher mortgage rules trigger the first fall in house prices since 2011, according to a leading economics consultancy. The Centre for Economics and Business Research (CEBR) said the housing market was now at a "turning point" and predicted that house price growth of 7.8% this year would be followed by a 0.8% decline in 2015. - The Daily Telegraph
A package of bigger parcels and lower prices is being wrapped up by Royal Mail as it tries to fight back in an increasingly competitive market. The company, which listed on the stock exchange a year ago in a controversial flotation, is Britain's biggest parcel delivery company, yet its volumes have been under pressure as smaller rivals have cut prices. One, UK Mail, warned only a fortnight ago of a "challenging" market, with "volumes below expectations". - The Times
The secretive Danish family behind the Lego toys famously made its fortune from plastic bricks. Now they are turning their focus to the real thing. Kirkbi, the investment company which manages the Kirk Kristiansen family's money, has its sights set on investing in commercial property in London as well as in a number of companies. - The Times
More workers around the world want to come to London than any other city, a survey from Boston Consulting Group has found, despite the fact it is now the most expensive place to live and work in the world. A poll of 200,000 people in 189 countries found that nearly one in six want to come to the capital to work, ahead of New York and Paris. The capital has overtaken Hong Kong as the priciest place for companies to locate workers and property prices have gone up 18.4% in the past year alone, yet international workers are undeterred. - The Daily Telegraph | | |
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