| | | | | | | | | |
| | London Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | London open: Manufacturing PMIs, FOMC minutes push UK stocks lower Weak economic data from China and the Eurozone and a hawkish set of Federal Reserve minutes pushed UK stock markets lower on Thursday morning. The FTSE 100 in London was trading down 0.3% at 6,675 in early deals.
The preliminary HSBC purchasing managers' index (PMI) for Chinese manufacturing released overnight showed that the sector failed to grow this month. The PMI fell to the break-even point of 50 in November, a six-month low, down from 50.4 the previous month and below the 50.2 that analysts were expecting.
Mike van Dulken, head of research at Accendo Markets, said that the figures "add[ed] to signs that more stimulus is needed to offset slowing growth in the world's #2 economy". He added: "There is talk of China boosting banks' lending power to help spur growth, with more flexible loan-to-deposit ratios."
Closer to home, PMIs from both France and Germany disappointed, with French manufacturing contracting further and German manufacturing coming to a standstill. The French manufacturing PMI fell from 48.5 to 47.6, while the German manufacturing PMI declined from 51.4 to 50.
The weak start in London also followed a negative finish for stocks on Wall Street on Wednesday night 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.
"The key take-aways from the Fed minutes were that despite low inflation and a weak global economy, the focus is still on domestic strength and the timing/scale of potential rate hikes," said analysts at Rabobank.
Centrica falls, Johnson Matthey jumps
British Gas and Direct Energy owner Centrica was out of favour after warning that its full-year and 2015 earnings will be lower than previously guided due to "a number of challenges" including low oil and gas prices, cold weather in the US, warm weather in the UK and boiler inspections at its power stations.
Although first-half revenue dropped by a quarter at Johnson Matthey, shares in the chemical and sustainable technologies group gained after profits improved and the company lifted its full-year guidance slightly.
The Financial Conduct Authority and the Bank of England have fined Royal Bank of Scotland £56m for the computer failures that hit more than over 6.5m UK customers for several weeks in 2012. RBS shares were under pressure early on.
Mining peers Fresnillo, BHP Billiton, Anglo American and Rio Tinto were firmly lower after the weak data from top metals consumer China.
A number of heavyweight stocks were also trading in the red after going ex-dividend, including Vodafone, J Sainsbury and National Grid. |
| Market Movers
techMARK 2,865.57 -0.21%
FTSE 100 6,674.90 -0.32%
FTSE 250 15,554.24 -0.31%
FTSE 100 - Risers
Johnson Matthey (JMAT) 3,284.00p +4.19%
Babcock International Group (BAB) 1,150.00p +2.86%
Petrofac Ltd. (PFC) 1,163.00p +1.39%
Wolseley (WOS) 3,498.00p +1.10%
Direct Line Insurance Group (DLG) 285.40p +0.74%
3i Group (III) 423.20p +0.59%
Meggitt (MGGT) 482.40p +0.58%
BG Group (BG.) 1,033.50p +0.58%
Capita (CPI) 1,060.00p +0.57%
ARM Holdings (ARM) 889.00p +0.57%
FTSE 100 - Fallers
Fresnillo (FRES) 716.00p -2.05%
Rio Tinto (RIO) 2,883.00p -2.01%
National Grid (NG.) 942.00p -1.93%
Anglo American (AAL) 1,298.50p -1.85%
BHP Billiton (BLT) 1,595.50p -1.82%
Sports Direct International (SPD) 643.00p -1.61%
Intertek Group (ITRK) 2,411.00p -1.47%
Sainsbury (J) (SBRY) 259.00p -1.37%
Randgold Resources Ltd. (RRS) 4,284.00p -1.29%
Aberdeen Asset Management (ADN) 439.40p -1.21%
FTSE 250 - Risers
Grainger (GRI) 198.50p +3.12%
UDG Healthcare Public Limited Company (UDG) 335.50p +2.63%
JD Sports Fashion (JD.) 448.00p +2.35%
Fisher (James) & Sons (FSJ) 1,104.00p +2.03%
Thomas Cook Group (TCG) 137.50p +1.70%
ICAP (IAP) 392.50p +1.68%
EnQuest (ENQ) 65.35p +1.55%
Investec (INVP) 602.00p +1.35%
SIG (SHI) 157.30p +1.35%
Aveva Group (AVV) 1,557.00p +1.24%
FTSE 250 - Fallers
Hochschild Mining (HOC) 96.05p -4.05%
Vedanta Resources (VED) 751.00p -3.90%
Centamin (DI) (CEY) 51.40p -3.66%
Lonmin (LMI) 181.70p -3.35%
Ophir Energy (OPHR) 179.50p -3.29%
African Barrick Gold (ABG) 224.00p -3.16%
Serco Group (SRP) 186.70p -3.01%
Keller Group (KLR) 801.50p -2.85%
Infinis Energy (INFI) 224.00p -2.78% |
| | End of year rally? What should you be buying right now? | | Get your Santa Rally report now. Click here.
Losses can exceed deposits. |
| | UK Event Calendar | | Thursday 20 November
INTERIMS
AB Dynamics, Babcock International Group, Investec, Johnson Matthey, NewRiver Retail Limited, QinetiQ Group
INTERIM DIVIDEND PAYMENT DATE
Hansteen Holdings
INTERIM EX-DIVIDEND DATE
Cable & Wireless Communications, Camkids Group, Downing Three VCT D Share , Downing Three VCT F Shs, Downing Three VCT H Shs, Downing Two VCT D Share , Downing Two VCT F Shs , Downing Two VCT G Shs, Energy Technique, Great Portland Estates, Hill & Smith Holdings, Infinis Energy, Liontrust Asset Management, Martin Currie Pacific Trust, National Grid, Prime People, Sainsbury (J), Scottish Mortgage Inv Trust, TalkTalk Telecom Group , Tate & Lyle, Vodafone Group
QUARTERLY EX-DIVIDEND DATE
Brunner Inv Trust, Canaccord Genuity Group Inc., Carnival, Raven Russia Ltd. Cum Red Pref Shares
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Consumer Confidence Indicator (EU) (10:00)
Consumer Price Index (US) (13:30)
Continuing Claims (US) (13:30)
Existing Home Sales (US) (15:00)
Initial Jobless Claims (US) (13:30)
Leading Indicators (US) (15:00)
Philadelphia Fed Index (US) (15:00)
Producer Price Index (GER) (07:00)
Q3
Nord Gold NV GDR (Reg S)
GMS
Origo Partners , Pinnacle Technology Group, Plastics Capital
FINALS
Euromoney Institutional Investor, Grainger, Superglass Holdings, UDG Healthcare Public Limited Company
IMSS
Centrica, Close Brothers Group
SPECIAL DIVIDEND PAYMENT DATE
Thorpe (F.W.)
SPECIAL EX-DIVIDEND PAYMENT DATE
Canaccord Genuity Group Inc., Manchester & London Investment Trust
AGMS
Ceramic Fuel Cells Ltd., Close Brothers Group, Crystal Amber Fund Ltd., Feedback, Plant Impact, Sarossa
UK ECONOMIC ANNOUNCEMENTS
CBI Industrial Trends Surveys (11:00)
Internet Retail Sales (09:30)
Retail Sales (09:30)
FINAL DIVIDEND PAYMENT DATE
Barratt Developments, Penna Consulting, Thorpe (F.W.)
FINAL EX-DIVIDEND DATE
AB Dynamics, Digital Globe Services Ltd (DI), Edinburgh Dragon Trust, Genus, GETECH Group, Gleeson (M J) Group, Ibex Global Solutions, Lok'n Store Group, London Finance & Investment Group, Manchester & London Investment Trust, St Ives, Tristel |
| | Earn an iPad Air 2 or Mini 3 | | Join Spreadex and trade the UK 100, EUR/USD, Wall St or GBP/USD markets to earn either an iPad Air 2 or iPad Mini 3. Losses can exceed deposit. Click here for ull ts&cs. |
| | Europe Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  | | | | | | Europe open: Stocks slide after German manufacturing data disappoints European stocks slumped after a report showed German manufacturing activity declined unexpectedly in November.
Markit's purchasing managers' index (PMI) fell to 52.1 this month from 54.4 the previous month, compared to forecasts for a 54.4 reading. A reading above 50 signals expansion.
The disappointing data comes amid concerns about the health of the Eurozone and its largest economy Germany. The euro slid 0.31% to $1.2515 following the report.
The weakness in European equities also comes after a negative finish for stocks in the US 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.
"The key take-aways from the Fed minutes were that despite low inflation and a weak global economy, the focus is still on domestic strength and the timing/scale of potential rate hikes," said analysts at Rabobank.
Turning to Thursday's agenda, the US will see the release of inflation data which is expected to fall to 1.6% year-on-year in October from 1.7% the previous month.
Data on weekly jobless claims and manufacturing are also due in afternoon trading.
Miners decline
A gauge of mining stocks dropped, including BHP Billiton after its chief executive Andrew Mackenzie said the time for massive expansions in iron ore production has ended. Rio Tinto Group also slumped.
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. |
| | 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 decline as Fed minutes show concern over inflation US stocks declined on Wednesday, after the release of minutes from the last Federal Reserve's meetings showed officials debated the pace of coming rate hikes. The Dow Jones Industrial Average closed 2.09 points down at 17,685.73, while the S&P 500 dropped 3.08 points to 2,048.72 and the Nasdaq ended the day 19.52 points down at 4,222.66.
According to the notes released on Wednesday, the central bank still believes it is on track to hike rates next year despite low inflation and a stagnant global economic outlook. The minutes show that while "most" supported keeping the language about the longer-run federal funds rate, a couple of Fed officials wanted it to be changed.
"There is nothing here to suggest that the market volatility persuaded officials to push back their expectations of when the first rate hike would be required next year," said Paul Ashwort, chief US economist at Capital Economics.
"We still expect the Fed to begin raising rates next March, sooner than is widely appreciated."
Meanwhile, construction started on new US homes declined 2.8% in October, the US Commerce Department reported.
The annual rate of total housing starts fell to 1.01m in October, lower than the 1.03m forecast, as the starts rate in buildings with at least five units fell 15.5%.
However, the pace of overall construction starts rose 7.8% year-on-year, showing that the housing market's rebound looks set to continue.
Lowe's rose 6.37% after the home-improvement retailer lifted its sales outlook and its result beat forecast, while Staples gained 9.33% after announcing its earnings will be as much as 32 cents a share in the fourth quarter, beating the 31 cent estimate by analysts.
Target advanced 7.36% after better-than-expected third quarter earnings, driven by a faster than expected growth in US sales, while Pet Smart rose 6.04% after Reuters reported that KKR & Co. and Clayton, Dubilier & Rice LLC are planning to bid more than $7.5bn for the pet-care chain.
Cliff Natural Resources fell 20.18% after announcing it was examining exit options for its Eastern Canadian iron ore operations.
The dollar hit a new seven-year high against the yen but was in retreat against the pound and the euro, while gold futures lost over a point and fell to $1,183.10.
The yield on the 10-year US Treasury note rose four basis points to 2.36%, while the yield on the 30-year note advanced by the same margin to 3.08% and the yield on the five-year Treasuries gained three basis points to 1.64%.
The prices of West Texas intermediate rebounded slightly as the crude ended the session at just under $75 a barrel, while the price of Brent crude fell to just over $78 a barrel.
S&P 500 - Risers
Macerich Co (MAC) $76.58 +9.59%
Staples Inc. (SPLS) $13.92 +9.09%
Target Corp. (TGT) $72.50 +7.39%
Lowe's Companies Inc. (LOW) $62.26 +6.37%
Petsmart Inc. (PETM) $78.19 +6.21%
Garmin Ltd. (GRMN) $59.19 +4.50%
Thermo Fisher Scientific Inc. (TMO) $124.67 +3.46%
Urban Outfitters Inc. (URBN) $29.53 +2.57%
EQT Corp. (EQT) $95.94 +2.52%
Phillips 66 Common Stock (PSX) $75.77 +2.45%
S&P 500 - Fallers
Avon Products Inc. (AVP) $9.43 -4.75%
Netflix Inc. (NFLX) $363.10 -4.71%
United States Steel Corp. (X) $34.38 -4.50%
Boston Scientific Corp. (BSX) $13.09 -4.31%
Peabody Energy Corp. (BTU) $10.79 -4.17%
Newmont Mining Corp. (NEM) $19.11 -3.97%
Denbury Resources Inc. (DNR) $9.69 -3.20%
Tenet Healthcare Corp. (THC) $47.71 -2.93%
Joy Global Inc. (JOY) $52.25 -2.77%
Alcoa Inc. (AA) $16.69 -2.74%
Dow Jones I.A - Risers
Coca-Cola Co. (KO) $44.22 +1.59%
Wal-Mart Stores Inc. (WMT) $84.99 +1.43%
Procter & Gamble Co. (PG) $88.73 +0.89%
Chevron Corp. (CVX) $116.47 +0.87%
Exxon Mobil Corp. (XOM) $95.61 +0.78%
Home Depot Inc. (HD) $96.70 +0.75%
Boeing Co. (BA) $131.61 +0.73%
Nike Inc. (NKE) $96.95 +0.50%
Travelers Company Inc. (TRV) $103.03 +0.18%
McDonald's Corp. (MCD) $96.56 +0.16%
Dow Jones I.A - Fallers
Verizon Communications Inc. (VZ) $50.49 -1.43%
Unitedhealth Group Inc. (UNH) $96.86 -1.35%
Microsoft Corp. (MSFT) $48.22 -1.07%
Intel Corp. (INTC) $34.35 -1.04%
AT&T Inc. (T) $35.37 -0.98%
3M Co. (MMM) $158.83 -0.82%
Caterpillar Inc. (CAT) $101.30 -0.73%
Walt Disney Co. (DIS) $89.82 -0.51%
Pfizer Inc. (PFE) $30.44 -0.49%
Merck & Co. Inc. (MRK) $59.64 -0.42%
Nasdaq 100 - Risers
Dish Network Corp. (DISH) $74.66 +10.04%
Staples Inc. (SPLS) $13.92 +9.09%
Garmin Ltd. (GRMN) $59.19 +4.50%
Charter Communications Inc. (CHTR) $158.63 +2.26%
TripAdvisor Inc. (TRIP) $71.40 +1.69%
Vertex Pharmaceuticals Inc. (VRTX) $112.80 +1.59%
Tractor Supply Company (TSCO) $75.32 +1.28%
Ross Stores Inc. (ROST) $82.16 +1.08%
Mondelez International Inc. (MDLZ) $39.10 +1.05%
Dollar Tree Inc (DLTR) $62.63 +1.03%
Nasdaq 100 - Fallers
Netflix Inc. (NFLX) $363.10 -4.71%
Tesla Motors Inc (TSLA) $247.74 -3.86%
Avago Technologies Ltd. (AVGO) $89.25 -2.36%
Yahoo! Inc. (YHOO) $50.58 -2.26%
Activision Blizzard Inc. (ATVI) $19.57 -2.20%
QUALCOMM Inc. (QCOM) $70.47 -2.14%
Nxp Semiconductors Nv (NXPI) $73.00 -2.08%
Keurig Green Mountain Inc (GMCR) $153.95 -2.01%
Vimpelcom Ltd Ads (VIP) $5.75 -1.88% |
| | WIN TICKETS TO RUGBY WORLD CUP 2015 | | Join our fantasy trading game for your chance to win money can’t buy rugby experiences and much more
Find out more here |
| | Thursday newspaper round-up: Federal Reserve, Lloyds, RBS... | | Minutes from the Federal Reserve's October meeting showed that it was an "easy decision" by policymakers to end quantitative easing, writes the Financial Times. The paper says that minutes showed "little debate or dissent" over the move and underlines a more hawkish stance among the committee. According to The Telegraph, around 8,000 investors have signed up to a lawsuit claiming Lloyds misled shareholders before acquiring HBOS in 2008. The investors, which include about 140 institutions such as charities, asset managers and pension funds, claim they lost almost £300m when approving the takeover six years ago and are seeking compensation in the region of £1 per share. The identity of the claimants, thought to include a mix of British and US investors, is not yet known but it is expected to become public over the next couple of days. Royal Bank of Scotland has been fined £50m over the collapse of its computer systems in June 2012, The Guardian reports. The chaos left millions of customers without access to their accounts at RBS, Natwest and Ulster Bank for several days. The Telegraph has said that UK mobile operators are to invest "tens of millions of pounds" to eliminate 'partial hotspots' in coverage. EE, O2, Three and Vodafone have all pledged to cover 89% of Britain, up from 80% currently. The £24.5bn development of the country's first nuclear reactor, Hinkley Point in Somerset, is being reviewed in secret by the government after the builder EDF Energy admitted to delays in construction, The Times has said. The paper says politicians worry "that its completion will be delayed for years, threatening the secure supply of energy". The Scotsman said that Scotland recorded the biggest increase in median full-time weekly earnings across the UK in 2013. According to figures published by the Office for National Statistics, Gross Median weekly earnings in the country rose by 2.1% over the year to £519.40. According to the Financial Times, Apple will incorporate the subscription music service it acquired from Beats into its iOS operating system early 2015, thus making it available on hundreds of millions of iPhones and iPads. The move could increase the pressure on Spotify, the market leader in music streaming and it will also be Apple’s first major leap into the subscription music industry at a time when iTunes downloads are in decline. | | |
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