| | | | | | | | | |
| | London Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | London open: UK stocks fluctuate at four-week high on China data, HSBC results UK stocks opened cautiously on Monday, with upside limited by disappointing economic data from China and poorly-received results from HSBC after the banking group reported a drop in underlying third-quarter profits.
The FTSE 100 was 0.1% higher at 6,554 in early deals, after having closed Friday's session at 6,546.47, its best finish since 6 October.
According to Mike van Dulken, head of research at Accendo Markets, the FTSE 100 "remains above the breakout level of 6,500 which should serve as support for any weakness".
Separate surveys on China's manufacturing activity released over recent days have added to worries about a slowdown in growth in October. The government's official China manufacturing purchasing managers' index (PMI) unexpectedly declined from 51.1 to a five-month low of 50.8, while the final estimate of HSBC's own survey showed that growth - as measured by figures over 50 - was subdued at 50.4, unchanged from the flash reading last week.
Economist Julian Evans-Pritchard from Capital Economics said that the data "is consistent with cooling domestic demand and a further slowdown in growth going into the fourth quarter".
Meanwhile, the official China non-manufacturing PMI also fell from 54 to 53.8 last month, its lowest since February.
Data from elsewhere is also likely to be closely watched on Monday; the Markit Eurozone and UK manufacturing PMIs are due out in morning trade, while the ISM US manufacturing index is scheduled for release in the afternoon.
HSBC disappoints, airlines rise
HSBC's share price slipped after the company reported a 12% drop in underlying pre-tax profit in the third quarter to $4.41bn on the back of a number of "significant items". These included customer redress for mis-sold PPI, a charge for a US housing probe and provisions for an investigation into alleged currency-rate rigging. Reported revenues were 5% higher at $15.8bn, but broadly unchanged on an underlying basis.
Airline stocks were performing well in early trading after Irish low-cost carrier Ryanair lifted its annual profit guidance by nearly 20% after a jump in winter bookings. Easyjet and IAG were also in demand.
Mining stocks were mostly weaker with Fresnillo, Glencore, Angofagasta and Rio Tinto among the worst performers as investors reacted to the disappointing data from China. Glencore was also being affected by a ratings downgrade from Nomura to 'reduce'.
Anglo American, however, edged higher after it was reported over the weekend that X2 Resources had made a bid for Anglo's Chilean copper mines, Brazilian nickel mines and some coal projects. X2 Resources is run by Mick Davis, the former boss of Xstrata. |
| | Market Movers
techMARK 2,785.29 +0.23%
FTSE 100 6,553.69 +0.11%
FTSE 250 15,532.69 +0.20%
FTSE 100 - Risers
easyJet (EZJ) 1,538.00p +2.53%
Petrofac Ltd. (PFC) 1,084.00p +2.26%
Standard Chartered (STAN) 955.40p +1.68%
Tullow Oil (TLW) 492.80p +1.44%
ITV (ITV) 205.60p +1.28%
International Consolidated Airlines Group SA (CDI) (IAG) 414.30p +1.25%
Morrison (Wm) Supermarkets (MRW) 156.70p +1.23%
Intertek Group (ITRK) 2,751.00p +1.07%
Meggitt (MGGT) 455.80p +1.04%
Rolls-Royce Holdings (RR.) 851.50p +1.01%
FTSE 100 - Fallers
Royal Bank of Scotland Group (RBS) 382.70p -1.37%
Royal Mail (RMG) 435.70p -1.25%
United Utilities Group (UU.) 845.00p -1.11%
Centrica (CNA) 299.40p -1.02%
G4S (GFS) 253.10p -0.94%
SSE (SSE) 1,585.00p -0.88%
National Grid (NG.) 918.00p -0.86%
Lloyds Banking Group (LLOY) 76.50p -0.82%
Severn Trent (SVT) 1,980.00p -0.80%
Burberry Group (BRBY) 1,520.00p -0.72%
FTSE 250 - Risers
Ferrexpo (FXPO) 87.25p +3.68%
Centamin (DI) (CEY) 52.85p +3.22%
EnQuest (ENQ) 71.55p +3.10%
Just Eat (JE.) 315.60p +2.60%
Cairn Energy (CNE) 148.80p +2.55%
Betfair Group (BET) 1,240.00p +2.48%
Bwin party Digital Entertainment (BPTY) 91.70p +2.29%
Riverstone Energy Limited (RSE) 857.00p +2.27%
Ophir Energy (OPHR) 189.50p +2.27%
Vedanta Resources (VED) 840.50p +2.25%
FTSE 250 - Fallers
Aveva Group (AVV) 1,480.00p -3.65%
Fidessa Group (FDSA) 2,285.00p -2.39%
Alent (ALNT) 330.00p -2.37%
Infinis Energy (INFI) 211.00p -2.22%
Saga (SAGA) 164.50p -2.02%
Spire Healthcare Group (SPI) 275.50p -1.61%
Entertainment One Limited (ETO) 308.70p -1.44%
Computacenter (CCC) 611.00p -1.37%
Telecity Group (TCY) 760.50p -1.30% |
| | Why is now such a good time to invest in US property? | | Castle Keep are now offering their expertise as US property fund managers to help private investors avoid the pitfalls of investing in an unfamiliar market.
Find out for yourself and download their FREE US property investment guide |
| | UK Event Calendar | | INTERIMS
Sacoil Holdings (DI)
INTERIM DIVIDEND PAYMENT DATE
Fisher (James) & Sons, Inspired Energy, Journey Group, Mears Group, Safestyle UK
QUARTERLY PAYMENT DATE
Verizon Communications
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Auto Sales (US) (15:00)
Construction Spending (US) (15:00)
ISM Manufacturing (US) (15:00)
ISM Prices Paid (US) (15:00)
PMI Manufacturing (EU) (09:00)
GMS
Hibernia Reit
IMSS
HSBC Holdings, Telecity Group
SPECIAL DIVIDEND PAYMENT DATE
GVC Holdings
EGMS
New World Resources A Shares
AGMS
Plutus PowerGen
FINAL DIVIDEND PAYMENT DATE
CPL Resources, Smith (DS), WYG |
| | UK & Europe Step Down Autocall 2 | | SG16 is a 6 year investment linked to the FTSE 100 and Euro Stoxx 50 Indices, which aims to generate a gross return of 10% per year (not compounded), and return your initial investment at Maturity, if not before See for yourself, here |
| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | Europe open: Stocks little changed amid batch of manufacturing PMIs European stocks were mixed as investors weighed manufacturing data in China and the Eurozone. HSBC’s Chinese manufacturing purchasing managers’ index (PMI) was confirmed at 50.4 in October, as expected. A reading above 50 signals expansion. China’s non-manufacturing PMI fell to 53.8 in October from 54 a month earlier. The Eurozone PMI was revised lower to 50.6 from 50.7, surprising analysts who predicted an unchanged reading. The UK and the US will also see the release of manufacturing PMIs on Monday. European Central Bank (ECB) officials Carlos Costa, Vitor Constancio, Daniele Nouy and Ewald Nowotny are due to speak later, while Federal Reserve officials Charles Evans and Richard Fisher will also make remarks. Increased M&A activity Portugal Telecom SA rallied after Altice SA offered to buy some assets from Oi SA. Ryanair Holdings gained after raising its full-year profit forecast. Publicis Groupe declined after agreeing to buy Sapient Corp. for $3.7bn. The euro fell 0.22% to $1.2498. Brent crude futures dropped 0.50% to $85.43 per barrel, according to the ICE. |
| | 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 soar amid BoJ stimulus US stocks soared on Friday, as the Dow Jones Industrials hit a new all-time intra-day record, with investors buoyed by an unexpected boost to stimulus from the Bank of Japan.
The Dow Jones Industrial Average closed points 195.10 up to 17,390.52, while the S&P 500 rose 23.40 points to 2,018.05 and the Nasdaq was 57.57 points higher to 4,158.21.
Japan's Government Pension Investment Fund announced it will put half of its holdings in local and foreign stocks, doubling previous levels, and invest in alternative assets.
The Bank of Japan raised its annual target for monetary expansion to 80trn yen ($724bn) from 70trn yen.
The US employment cost index (ECI) was stronger than expected and rose 0.7% from the previous three months in the third quarter, exceeding analysts' consensus of 0.5%, while the year-on-year increase came in at 2.2%.
Growth in wages and salaries printed at 0.8%, continuing the steady upward trend in place since the first quarter, when wages and salaries only increased 0.3% from the previous three months.
"Government sector employment costs are growing at a slightly slower, but still solid pace of 0.5% quarter-on-quarter and 2.1% year-on-year," Barclays analysts said in a note.
"We continue to expect wage growth to rise gradually this year, reflecting continued improvement in the labour market and a reduction in labour market slack."
US personal spending fell 0.2% in nominal terms in September, lower than analysts' expectations of 0.1%.
The personal consumption expenditures (PCE) price index rose 0.1% month-on-month on both overall and core measures, leaving the two parameters up 1.4% and 1.5% year-on-year, respectively.
In corporate news, Linkedin rose 12.84% after better-than-expected sales, while Gopro soared 12.97% after its prediction for fourth-quarter profit surpassed analysts' projections.
Starbucks slid 2.28% after announcing later on Thursday that its fourth quarter revenue missed estimates, while Apple opened at an-all time high of $108.01.
Gold futures slid to $1,172.80, a level not seen since 2010, as the dollar surged forward following a surprise stimulus move from the Bank of Japan.
The greenback gained over 2.5 percentage points on the yen and it also registered smaller gains against the euro and the pound.
West Texas intermediate and Brent crude both fell, trading at just over $80 and just under $86 a barrel respectively.
The yield on the 10-year US Treasury note rose three basis points to 2.33%, while the yield on the 30-year note advanced one basis point to 3.06 and the five-year Treasuries rose three basis points to 1.61.
S&P 500 - Risers
Eastman Chemical Co. (EMN) $80.78 +6.61%
PPG Industries Inc. (PPG) $203.69 +5.90%
Analog Devices Inc. (ADI) $49.62 +5.57%
EQT Corp. (EQT) $94.04 +5.56%
Expedia Inc. (EXPE) $84.97 +5.25%
Priceline Group Inc (PCLN) $1,206.21 +5.20%
First Solar Inc. (FSLR) $58.90 +4.99%
Microchip Technology Inc. (MCHP) $43.11 +4.92%
Borg Warner Inc. (BWA) $57.02 +4.87%
Tesoro Corp. (TSO) $71.41 +4.86%
S&P 500 - Fallers
Newmont Mining Corp. (NEM) $18.76 -7.72%
Crown Castle International (CCI) $78.12 -6.15%
Newell Rubbermaid Inc. (NWL) $33.33 -4.64%
Mead Johnson Nutrition Co. (MJN) $99.31 -4.11%
Republic Services Inc. (RSG) $38.40 -3.52%
Diamond Offshore Drilling Inc. (DO) $37.71 -2.43%
Starbucks Corp. (SBUX) $75.56 -2.28%
Gilead Sciences Inc. (GILD) $112.00 -1.94%
Discovery Communications Inc. Class A (DISCA) $35.35 -1.64%
American Tower Corp (Reit) (AMT) $97.50 -1.42%
Dow Jones I.A - Risers
Intel Corp. (INTC) $33.99 +4.33%
Exxon Mobil Corp. (XOM) $96.71 +2.39%
Chevron Corp. (CVX) $119.95 +2.35%
E.I. du Pont de Nemours and Co. (DD) $69.15 +2.20%
Visa Inc. (V) $241.43 +2.02%
Microsoft Corp. (MSFT) $46.95 +1.95%
JP Morgan Chase & Co. (JPM) $60.48 +1.84%
Cisco Systems Inc. (CSCO) $24.47 +1.62%
Goldman Sachs Group Inc. (GS) $189.99 +1.62%
American Express Co. (AXP) $89.95 +1.36%
Dow Jones I.A - Fallers
Wal-Mart Stores Inc. (WMT) $76.27 -0.24%
Nike Inc. (NKE) $92.97 -0.03%
Nasdaq 100 - Risers
Analog Devices Inc. (ADI) $49.62 +5.57%
Expedia Inc. (EXPE) $84.97 +5.25%
Priceline Group Inc (PCLN) $1,206.21 +5.20%
Nxp Semiconductors Nv (NXPI) $68.66 +4.97%
Avago Technologies Ltd. (AVGO) $86.25 +4.69%
Nvidia Corp. (NVDA) $19.54 +4.55%
Texas Instruments Inc (TXN) $49.66 +4.48%
Seagate Technology Plc (STX) $62.83 +4.46%
Intel Corp. (INTC) $33.99 +4.33%
Sandisk Corp. (SNDK) $94.14 +4.24%
Nasdaq 100 - Fallers
Starbucks Corp. (SBUX) $75.56 -2.28%
Gilead Sciences Inc. (GILD) $112.00 -1.94%
Sba Communications Corp. (SBAC) $112.33 -1.81%
Discovery Communications Inc. Class A (DISCA) $35.35 -1.64%
Alexion Pharmaceuticals Inc. (ALXN) $191.36 -0.81%
Illumina Inc. (ILMN) $192.51 -0.47%
Twenty-First Century Fox Inc Class A (FOXA) $34.48 -0.23%
Henry Schein Inc. (HSIC) $119.97 -0.20%
Ross Stores Inc. (ROST) $80.72 -0.14% |
| | The Share Centre | | Trade Online – Just £7.50 Per Deal
Fix Your Dealing Commission Now
Simply Easier
(Capital at Risk) |
| | Newspaper Round Up | | Monday newspaper round-up: Tesco, Boardroom diversity, Britain in the EU... Sir Terry Leahy, the former boss of Tesco, told analysts in a private call last week that the supermarket group had forgotten its sense of purpose before running into trouble, reports The Times. He said Tesco had "focused too much on what it isn't, rather than remembering what it is and working with that".
Vince Cable, the UK business secretary, is planning to reduce the increase the ethnic diversity in boardrooms of the country's largest companies, writes The Guardian. The target, welcomed by the Institute of Directors and expected to be announced next month, aims to have one in five directors of FTSE 100 firms come from an ethnic minority within five years.
Angela Merkel is said to have warned David Cameron that any attempt to restrict immigration from EU nations will lead to Germany withdrawing its support for efforts to keep Britain as a member state, the Financial Times reports.
A survey by the Confederation of British Industry (CBI) has found that 96% of business leaders believe political uncertainty is discouraging investment on infrastructure in Britain, says The Guardian. The CBI has called for politicians to make big decisions on infrastructure that go beyond the five-year electoral cycle.
The Financial Times says that RBS has signed a "poacher-turned-gamekeeper" agreement to advise the City of London Police on financial crime, which may come to a surprise to many given the bank's unresolved litigation issues.
Employment law rulings due out this week could claims that employees have been underpaid for annual statutory leave for years, according to The Times. The rulings could land businesses bills of billions of pounds and could force them to lift holiday pay by including a calculation on voluntary overtime and commissions, the paper said.
French ad giant Publicis is to spend $3.7bn in cash on US consultancy firm Sapient as it expends in the higher-tech side of the marketing and consultancy industry, the Financial Times reports. | | |
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