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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: Stocks take hit from downbeat Eurozone data London shares took a knock from downbeat Eurozone manufacturing and services data and economic woe in China on Thursday. The FTSE 100 Index closed 17.53 points adrift at 6679.07 after data showed euro zone business growth this month was weaker than economists expected, with orders dropping for the first time in more than a year despite price cuts.
Jasper Lawler at CMC Markets said: "Europe's economy is far from out of the woods despite hope offered by a recovery in German investor confidence on Wednesday."
Back in the UK, the recovery in British manufacturing slowed in November as a result of sluggish export demand, the Confederation of British Industry's (CBI) industrial trends survey showed.
But UK retail sales soared last month, advancing by 0.8% month-on-month and 4.3% on the year and led by non-food sales, according to the Office for National Statistics (ONS).
On the corporate front, defence engineering group Babcock International fired up 31p to 1149p after profits, earnings and cash hit or topped targets.
Catalytic converter maker Johnson Matthey was also on the up by 130p to 3282p after first-half results came in well ahead of consensus estimates, according to broker Liberum Capital.
But BHP Billiton led miners lower with a 49.5p fall to 1575.5p after Credit Suisse expressed bearish comments on commodities, saying it expected the Chinese economy to have a hard landing after negative manufacturing data from Beijing.
BHP's rivals were also on the slide, with Anglo American subsiding 23p to 1300p and Rio Tinto off 48.5p at 2893.5p.
In the second tier, UDG Healthcare got a 15.3p shot in the arm to 342.2p as it announced higher annual profits and revenue.
But IP Group was 3.4p sicker at 202.6p despite the award of a £2.4m grant to one of its investments, Modern Biosciences. |
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| | Market Movers
TechMARK 2,870.08 -0.05%
FTSE 100 6,678.90 -0.26%
FTSE 250 15,604.52 +0.02% FTSE 100 - Risers
Johnson Matthey (JMAT) 3,341.00p +6.00%
Babcock International Group (BAB) 1,184.00p +5.90%
Petrofac Ltd. (PFC) 1,178.00p +2.70%
TUI Travel (TT.) 427.10p +2.52%
Friends Life Group Limited (FLG) 343.30p +2.02%
BG Group (BG.) 1,046.00p +1.80%
Coca-Cola HBC AG (CDI) (CCH) 1,423.00p +1.79%
easyJet (EZJ) 1,565.00p +1.49%
Royal Dutch Shell 'B' (RDSB) 2,353.00p +1.34%
Tullow Oil (TLW) 477.30p +1.34%
FTSE 100 - Fallers
Rio Tinto (RIO) 2,865.00p -2.62%
BHP Billiton (BLT) 1,582.50p -2.62%
National Grid (NG.) 936.00p -2.55%
Sports Direct International (SPD) 638.00p -2.37%
Anglo American (AAL) 1,293.50p -2.23%
Smiths Group (SMIN) 1,183.00p -2.15%
Weir Group (WEIR) 2,030.00p -1.84%
Sainsbury (J) (SBRY) 258.10p -1.71%
Glencore (GLEN) 323.45p -1.58%
Centrica (CNA) 293.90p -1.57%
FTSE 250 - Risers
UDG Healthcare Public Limited Company (UDG) 348.00p +6.45%
ICAP (IAP) 399.30p +3.45%
Halma (HLMA) 669.00p +2.92%
Diploma (DPLM) 705.50p +2.69%
IG Group Holdings (IGG) 641.00p +2.56%
Ocado Group (OCDO) 310.70p +2.34%
Thomas Cook Group (TCG) 138.30p +2.29%
Micro Focus International (MCRO) 1,060.00p +2.20%
Inmarsat (ISAT) 741.00p +2.07%
Crest Nicholson Holdings (CRST) 340.80p +2.04%
FTSE 250 - Fallers
Serco Group (SRP) 179.00p -7.01%
Ferrexpo (FXPO) 71.45p -6.30%
Centamin (DI) (CEY) 50.10p -6.09%
Infinis Energy (INFI) 217.00p -5.82%
Lonmin (LMI) 178.80p -4.89%
Kaz Minerals (KAZ) 236.60p -4.83%
Balfour Beatty (BBY) 160.90p -3.88%
Cranswick (CWK) 1,392.00p -3.87%
Vedanta Resources (VED) 752.00p -3.77%
Bwin.party Digital Entertainment (BPTY) 102.10p -3.50%
FTSE TechMARK - Risers
CML Microsystems (CML) 315.00p +7.88%
Innovation Group (TIG) 27.50p +4.76%
Optos (OPTS) 228.00p +3.64%
Sepura (SEPU) 142.00p +2.90%
Gresham Computing (GHT) 80.50p +2.55%
Oxford Biomedica (OXB) 4.33p +2.37%
Kofax Limited (DI) (KFX) 415.38p +2.18%
Ricardo (RCDO) 641.00p +1.18%
XP Power Ltd. (DI) (XPP) 1,439.00p +1.05%
NCC Group (NCC) 202.00p +1.00%
FTSE TechMARK - Fallers
Dialight (DIA) 775.00p -2.88%
Anite (AIE) 82.50p -1.49%
Consort Medical (CSRT) 740.50p -1.00%
BATM Advanced Communications Ltd. (BVC) 16.12p -0.77% |
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| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe close: Stocks mostly lower after weaker-than-expected manufacturing data European stocks finished Thursday mostly lower after an unexpected decline in Chinese, Eurozone and US manufacturing growth. Markit's purchasing managers' index (PMI) for Eurozone manufacturing fell to 50.4 in November from 50.6 in October. Analysts had predicted a reading of 50.8. A level above 50 signals expansion.
The PMI for Germany fell to 52.1 this month from 54.4 the previous month, compared to forecasts for a 54.4 reading.
"Overall, PMIs are in line with our scenario of subdued growth in the final quarter of 2014: our euro-area PMI based gross domestic product indicator points to a modest rise of 0.1% quarter-on-quarter in the fourth quarter, in line with our forecast," Barclays said.
In China, HSBC's PMI on manufacturing fell to 50 in November from 50.4 a month earlier, missing expectations of 50.2.
In the US, the PMI for manufacturing edged down to 54.7 in November from 55.9 in October.
US inflation, jobs
US inflation rose by 1.7% year-on-year in October, in line with the previous month's growth, and more than the 1.6% forecast.
US initial jobless claims fell by 2,000 to 291,000 in the week to 15 November, the Labor Department reported.
It marked the 10th consecutive week of unemployment claims coming in under 300,000, reflecting lower layoffs in the US as growth begins to improve.
The reports come after minutes of last month's Federal Open Market Committee (FOMC) meeting revealed that members had debated about whether or not to change its forward guidance on interest rates.
In the end, the FOMC maintained its stance to keep rates low "for a considerable time", but the minutes showed that policymakers were divided over the timing and trajectory of the first rate hike.
Miners fall on Chinese manufacturing PMI
A gauge of miners, including Rio Tinto, BHP Billiton and Anglo American, dropped after weaker-than-estimated Chinese manufacturing data.
Banco Bilbao Vizcaya Argentaria (BBVA) slumped after selling about 242m new shares at €8.25 each. It comes after the bank said it had agreed to pay up to $2.5bn to raise its holding in Turkiye Garanti Bankasi AS, Turkey's largest bank.
ThyssenKrupp AG advanced after the steelmaker posted its first annual profit in four years and resumed dividend payments.
Technip SA edged lower after saying it will bid €8.30 a share for CGG SA.
The euro fell 0.25% to $1.2522. |
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| | US Market Report | | US open: Stocks decline as overseas data adds to concerns of global slowdown US stocks declined on Thursday, as data showed consumer prices were largely unchanged, while weak data from Europe and China added to the growing concerns over a global slowdown. Just before 10:00 in New York, the Dow Jones Industrial Average was down 0.40%, while the S&P 500 fell 0.15% and the Nasdaq dropped 0.57%.
US consumer prices were flat month-on-month and rose by 1.7% year-on-year, according to the Bureau of Labor Statistics (BLS).
The consensus estimate had been for the consumer price index to slip by 0.1% over the month and rise by 1.6% year-on-year.
Core prices, which exclude food and energy, rose by 0.2% on the month and advanced by 1.7% over the year, while energy prices dropped a seasonally adjusted 1.9%, registering their fourth straight decline.
According to data released by Markit on Thursday, the purchasing managers' index for factories and services activity in the Eurozone fell unexpectedly in November, reaching its lowest level in 16 months, while the HSBC China Manufacturing Purchasing Managers Index fell to a six-month low in November.
Meanwhile, the number of people who applied for unemployment benefits remained below the 300,000 threshold for the 10th straight week, as the US economy continues to strengthen.
Initial jobless claims fell to 290,000 in the week ended 15 November, in line with consensus expectations of 284,000, while claims for the previous week were revised upward to 293,000, bringing the four-week moving average to 288,000.
Salesforce.com fell after estimating fourth quarter sales and profit that could miss analysts' forecast amid a slowdown in corporate spending on the company's software and services.
Keurig Green Mountain slid after anticipating first quarter earnings per diluted share will be no higher than 88 cents, compared with analysts' expectations of 96 cents.
GoPro fell sharply after the sports-camera maker priced a secondary share offering about 11% below Wednesday's close, while Best Buy soared after better-than-expected third quarter profits.
The dollar fell against the yen, euro and pound while gold futures slid to $1,190.40.
The yield on the 10-year US Treasury note fell five basis points to 2.31%, while the yield on the 30-year note dropped six basis points to 3.02% and the yield on the five-year Treasuries shed four basis points to 1.61%. |
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| | Broker Tips | | Broker tips: Babcock, Johnson Matthey, Great Portland Estates Engineering support services group Babcock International's interims were "very solid", Investec analyst John Lawson said in a research note on Thursday. "The group continues to successfully replenish its order book (an ongoing challenge for any outsourcing group) and yesterday's announcement with regards to the Defence Support Group was very timely. A very robust story and we maintain our 'buy' rating."
First-half results from Johnson Matthey came in well ahead of consensus estimates and should reassure investors who were worrying about full-year forecasts, according to broker Liberum.
"Overall these results will underpin current consensus for this year and next which was looking questionable given an anticipated slowdown in European car and truck markets which account for 50% of light duty vehicle catalyst profits and 30% of truck profits."
Credit Suisse has initiated coverage of property investment and development company Great Portland Estates with an 'outperform' recommendation and 808p price target. | | |
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