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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: UK stocks rise as weak Asian data prompts stimulus hopes London's FTSE 100 was rising for the fourth straight day on Tuesday as a string of disappointing economic data from Asia prompted calls for stimulus.
The FTSE 100 was up 0.2% at 6,686 in early deals. It has not closed above this level since 24 September when it settled at 6,706.27.
Data showed that Japan unexpectedly sank into recession in the third quarter, sparking hopes that prime minister Shinzo Abe will delay another planned hike in the sales tax.
After a revised 7.3% contraction in the second quarter, the Japanese economy contracted by an annualised 1.6% in the July-September period, surprising analysts' who had expected a rebound of 2.1%.
According to various, Abe is expected to be planning a stimulus package focused on consumer spending and could also call an early election.
"The market appears to be expecting some sort of confirmation of the above packages with the Nikkei +2.2% and Topix +2.1% as we type," said analysts at Deutsche Bank this morning.
Meanwhile, house prices in China declined for a second straight month, falling by 2.6% year-on-year in October. This was the worst annual decline since the data series began in 2011 and double the drop anticipated by the market. The property market accounts for 15% of China's economy.
Pace, Balfour Beatty, Smiths Group
Pace was a high riser on the FTSE 350 on Tuesday after the pay TV and broadband services group said it expects a record fourth quarter with profits and margins in the third quarter ahead of expectations.
Civil engineer Balfour Beatty was also higher after reporting trading in line with expectations with orders flat at £11.7bn at the end of the third quarter.
Smiths Group declined early on after saying that first-quarter underlying results were lower than last year as growth in the medical division was offset by weakness in the detection and interconnect businesses.
Mining stocks were putting in a mixed performance with precious metal peers Randgold and Fresnillo making gains and Rio Tinto, Anglo American and Glencore trading lower. |
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| Market Movers
techMARK 2,864.83 +0.22%
FTSE 100 6,686.16 +0.21%
FTSE 250 15,701.70 +0.34%
FTSE 100 - Risers
Royal Mail (RMG) 478.10p +2.22%
Randgold Resources Ltd. (RRS) 4,413.00p +2.18%
Fresnillo (FRES) 751.00p +1.97%
Tullow Oil (TLW) 464.70p +1.31%
WPP (WPP) 1,292.00p +1.17%
Compass Group (CPG) 1,065.00p +1.04%
Morrison (Wm) Supermarkets (MRW) 183.30p +0.99%
Next (NXT) 6,680.00p +0.98%
Sports Direct International (SPD) 641.50p +0.94%
Friends Life Group Limited (FLG) 336.00p +0.90%
FTSE 100 - Fallers
Smiths Group (SMIN) 1,210.00p -1.94%
easyJet (EZJ) 1,515.00p -1.88%
Standard Chartered (STAN) 924.90p -1.22%
Vodafone Group (VOD) 227.55p -0.65%
Rio Tinto (RIO) 3,038.00p -0.65%
Anglo American (AAL) 1,364.00p -0.62%
International Consolidated Airlines Group SA (CDI) (IAG) 423.10p -0.59%
Aggreko (AGK) 1,572.00p -0.57%
ARM Holdings (ARM) 885.00p -0.56%
Glencore (GLEN) 329.95p -0.54%
FTSE 250 - Risers
Pace (PIC) 354.50p +6.84%
Balfour Beatty (BBY) 163.50p +4.94%
Intermediate Capital Group (ICP) 432.30p +3.54%
Synthomer (SYNT) 207.00p +2.99%
Saga (SAGA) 160.60p +2.88%
Hochschild Mining (HOC) 96.60p +2.77%
Laird (LRD) 308.30p +2.43%
Halma (HLMA) 648.50p +2.37%
JD Sports Fashion (JD.) 447.50p +2.33%
Centamin (DI) (CEY) 51.05p +2.10%
FTSE 250 - Fallers
Informa (INF) 477.80p -5.29%
Kaz Minerals (KAZ) 256.50p -4.61%
Nostrum Oil & Gas (NOG) 627.50p -3.46%
BBA Aviation (BBA) 344.10p -3.21%
EnQuest (ENQ) 64.35p -2.43%
Enterprise Inns (ETI) 124.00p -2.21%
Grafton Group Units (GFTU) 630.00p -1.33%
Homeserve (HSV) 335.80p -1.24%
Restaurant Group (RTN) 637.50p -1.09% |
| | UK Event Calendar | | Tuesday 18 November
INTERIMS
British Land Co, Carclo, CML Microsystems, Enteq Upstream, Entertainment One Limited, Halma, Homeserve, Intermediate Capital Group, Mckay Securities, Picton Property Income Ltd, Sepura, UK Mail Group , Vectura Group
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
New Car Registrations (EU) (10:00)
Producer Price Index (US) (13:30)
Wholesale Price Index (GER) (07:00)
ZEW Survey (EU) (10:00)
ZEW Survey (GER) (10:00)
Q3
AFI Development, MHP SA GDR (Reg S)
FINALS
easyJet, Enterprise Inns
IMSS
Balfour Beatty, Lavendon Group, Paddy Power, Serco Group
AGMS
Animalcare Group, Doric Nimrod Air One Ltd, Doric Nimrod Air Three Limited Red Ord Pref Shs Npv, Doric Nimrod Air Two Ltd Pref Shs Npv, Eagle Eye Solutions Group, Jupiter US Smaller Companies , Oilex Ltd., Smiths Group
UK ECONOMIC ANNOUNCEMENTS
Consumer Price Index (09:30)
Producer Price Index (09:30)
Retail Price Index (09:30)
FINAL DIVIDEND PAYMENT DATE
IG Group Holdings, Strategic Equity Capital |
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| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks gain on ECB stimulus hopes Stocks gained in the Eurozone after European Central Bank (ECB) President Mario Draghi suggested the possibility of buying government bonds to boost the economy if needed.
Speaking at the European Parliament in Brussels during his quarterly testimony, Draghi said "unconventional measures might entail the purchase of a variety of assets, one of which is sovereign bonds".
His remarks come amid pressure to address the weak economy and dangerously low inflation.
Against this backdrop, ECB's Klaas Knot speaks on the risk of deflation at the European Parliament on Tuesday at 18:00 London time.
Earlier in the session, ZEW releases its German economic sentiment index which is forecast to rise in November to 0.5 from -3.6 a month earlier.
In the UK, inflation data will be in focus with consumer prices expected to hold at 1.2% year-on-year in October. Core inflation is predicted to increase to 1.6% from 1.5% the prior month.
In Japan, Prime Minister Shinzo Abe was expected to announce that he will delay an unpopular sales tax rise and call a snap election amid data showing the economy had fallen into a recession.
Balfour Beatty, Altice
Balfour Beatty advanced after saying its construction-services order book rose in the third quarter.
Altice slumped on news Carlyle Group LP and Cinven Group Ltd. were selling a stake valued at as much as €341.3m in the cable company.
The euro rose 0.31% to $1.2488. |
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| | US Market Report | | US close: Stocks finish mixed after US data, Japan GDP, Draghi on ECB stimulus US stocks finished Monday's session mixed as investors weighed worse-than-expected US data and remarks from European Central Bank's (ECB) Mario Draghi on quantitative easing.
A report on industrial production showed a 0.1% drop in October, following a 0.8% increase a month earlier and compared to market estimates of a 0.2% increase.
Manufacturing production rose 0.2% in October after a 0.2% gain in September, as expected.
"While industry should be hit harder than other sectors, the strength of domestic demand will prevent a major slowdown," Capital Economics said.
Separately, the Empire Manufacturing index rose to 10.16 in November from 6.17 the prior month, less than the 12.00 forecast.
However, Capital Economics said that "while the global slowdown and stronger dollar are taking some heat out of industry, the sector will still perform fairly well over the next year".
Providing a drag elsewhere, Japanese gross domestic product dropped an annualised 1.6% in the third quarter, compared to a fall of 7.3% in the previous quarter, surprising analysts who had expected 2.2% growth.
The data comes after the Bank of Japan decided to boost stimulus measures.
"Japan's problems are far greater than markets had assumed and the likelihood of snap elections has taken a step closer," IG said.
On a more positive note, ECB President Draghi hinted at the possibility of buying government bonds to address the weak Eurozone economy.
His remarks came after UK Prime Minister David Cameron warned of the risk of a second global financial crisis, in part weighed down by the stagnant euro-area.
Baker Huges gains on Halliburton deal
Baker Hughes skyrocketed in the US trading after announcing a merger with Halliburton.
Under the agreement, Halliburton will by its rival oilfield services company for a deal worth $34.6bn (£22.1bn) in cash and stock.
In other company news, Actavis advanced after reaching a deal to pay about $66bn for Allergan.
DreamWorks Animation SKG slumped after Hasbro's approach to buy the studio reportedly ended without agreement.
West Texas Intermediate crude oil declined 0.46% to $79.04 per barrel, according to the ICE.
S&P 500 - Risers
Baker Hughes Inc. (BHI) $65.23 +8.92%
Tyson Foods Inc. (TSN) $43.03 +5.83%
Allergan Inc. (AGN) $209.20 +5.31%
Hasbro Inc (HAS) $56.37 +4.35%
Molson Coors Brewing Co. Class B (TAP) $77.75 +3.01%
Aetna Inc. (AET) $86.22 +2.88%
Ford Motor Co. (F) $15.54 +2.64%
Zoetis Inc (ZTS) $44.23 +2.53%
Public Service Enterprise Group Inc. (PEG) $40.46 +2.48%
Coca-Cola Enterprises Inc. (CCE) $43.25 +2.27%
S&P 500 - Fallers
Denbury Resources Inc. (DNR) $10.01 -10.62%
Halliburton Co. (HAL) $49.23 -10.62%
QEP Resources Inc (QEP) $23.12 -5.71%
Staples Inc. (SPLS) $12.97 -3.57%
Newfield Exploration Co (NFX) $32.50 -3.45%
Pioneer Natural Resources Co. (PXD) $165.04 -3.28%
Discovery Communications Inc. Class A (DISCA) $32.53 -2.98%
Lam Research Corp. (LRCX) $77.79 -2.53%
Noble Energy Inc. (NBL) $54.71 -2.50%
Nabors Industries Ltd. (NBR) $16.20 -2.35%
Dow Jones I.A - Risers
Unitedhealth Group Inc. (UNH) $96.47 +1.43%
Intel Corp. (INTC) $34.24 +0.85%
Wal-Mart Stores Inc. (WMT) $83.57 +0.74%
Merck & Co. Inc. (MRK) $59.46 +0.66%
Nike Inc. (NKE) $96.06 +0.59%
General Electric Co. (GE) $26.61 +0.57%
Cisco Systems Inc. (CSCO) $26.47 +0.55%
Coca-Cola Co. (KO) $42.92 +0.44%
Visa Inc. (V) $249.80 +0.39%
Caterpillar Inc. (CAT) $101.70 +0.36%
Dow Jones I.A - Fallers
American Express Co. (AXP) $90.13 -0.60%
Chevron Corp. (CVX) $115.75 -0.49%
E.I. du Pont de Nemours and Co. (DD) $70.47 -0.47%
Walt Disney Co. (DIS) $90.41 -0.43%
Boeing Co. (BA) $128.42 -0.34%
Procter & Gamble Co. (PG) $87.84 -0.31%
McDonald's Corp. (MCD) $95.97 -0.25%
Microsoft Corp. (MSFT) $49.46 -0.24%
Home Depot Inc. (HD) $98.03 -0.21%
Verizon Communications Inc. (VZ) $51.40 -0.19%
Nasdaq 100 - Risers
Charter Communications Inc. (CHTR) $155.31 +2.11%
Mylan Inc. (MYL) $55.13 +2.00%
Monster Beverage Corp (MNST) $110.07 +1.99%
Seagate Technology Plc (STX) $63.99 +1.78%
Viacom Inc. Class B (VIAB) $74.10 +1.56%
Vodafone Group Plc ADS (VOD) $35.96 +1.55%
Express Scripts Holding Co (ESRX) $79.06 +1.53%
Illumina Inc. (ILMN) $182.91 +1.34%
Catamaran Corp (CTRX) $49.03 +1.22%
Yahoo! Inc. (YHOO) $52.37 +1.20%
Nasdaq 100 - Fallers
Staples Inc. (SPLS) $12.97 -3.57%
Discovery Communications Inc. Class A (DISCA) $32.53 -2.98%
Baidu Inc. (BIDU) $244.15 -2.22%
Adobe Systems Inc. (ADBE) $69.97 -2.03%
TripAdvisor Inc. (TRIP) $68.53 -1.97%
Tesla Motors Inc (TSLA) $253.98 -1.82%
Gilead Sciences Inc. (GILD) $100.39 -1.64%
KLA-Tencor Corp. (KLAC) $79.02 -1.63%
Google Inc. (GOOGL) $546.65 -1.54% |
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| | Newspaper Round Up | | Tuesday newspaper round-up: Quindell, UK supermarkets, Japan... Insurance claims processor Quindell has ousted founder and chairman Rob Terry from its board "in a dramatic attempt to restore investor confidence", writes the Financial Times. The company is expected to announce the news on Tuesday morning, the paper said, citing people familiar with the situation.
Goldman Sachs has claimed that the "only viable option" for the UK's largest supermarket chains to turn around their performance is to close one in five of their shops, reports The Telegraph. Goldman said that the "major decisions that will shape the future of the UK grocery market are yet to be taken".
Japan unexpectedly sank into recession in the third quarter, reports The Guardian, contracting by 0.4%. The economy shrank at an annual rate of 1.6%, compared with analysts' forecasts for 2% growth, "raising the prospect of a snap election as the country's prime minister, Shinzo Abe, attempts to secure a mandate to breathe life into the world's third biggest economy", the paper said.
House prices in China declined for the second consecutive month in October, the Financial Times has said. Prices fell by an annual rate of 2.5%, the worst year-on-year fall since the current data series started in 2011.
Music equipment firm Focusrite is set to float on AIM, according to The Times. The company, which makes studio gear under the Saffire and Scarlett brands, is expected to be valued at £80m.
According to The Times, national utility group Saudi Electric is in talks with EDF Energy about taking at least a 10% stake in the £24.5bn development at Hinkley Point in Somerset, "Britain's first nuclear reactor for a generation". | | |
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