| | | | | | | | | |
| | London Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | London open: FTSE rises as earnings impress, but oil stocks fall The UK stock market opened tentatively on Tuesday, with declines in the energy sector offsetting some well-received results from blue chips Legal & General, Associated British Foods and Imperial Tobacco.
The FTSE 100 was up 0.2% at 6,503 in early deals.
However, upside was being limited by falls from a number of oil majors as the price of West Texas Intermediate (WTI) fell to a three-year low.
Saudi Arabia lowered prices for crude exports to US customers ahead of US government data due out on Wednesday which is expected to show that stockpiles rose by 1.9m barrels last week. WTI futures were down as much as 2% at $77.20 a barrel on Tuesday, a level not seen since October 2011.
After closing at its highest level in four weeks on Friday (6,546.47), the FTSE 100 fell 0.9% on Monday after manufacturing purchasing managers' indices (PMIs) from China and the Eurozone disappointed. "After the strong gains seen in equity markets at the end of last week it was probably inevitable that we got a little bit of a pull-back yesterday," said analyst Michael Hewson from CMC Markets UK.
The focus of Wednesday's session is likely to be on the Markit/CIPS UK construction PMI due out at 09:30, which is predicted to have fallen to 63.5 in October from 64.2 in September. Nevertheless, this will still be the 12th straight month above 60.
Oil stocks fall; L&G, AB Foods and Imperial impress
Oil and gas producers Tullow Oil, Shell, BP, BG Group, Premier Oil and Ophir Energy were among the worst performers on Tuesday as stocks tracked oil prices lower. Oil services peers Hunting and Petrofac were also out of favour.
Insurance and pensions group Legal & General rose after saying it racked up record annuity sales of £3.9bn in the first nine months of the year despite British government changes that have relaxed obligations on people to buy annuities to save for their retirement.
Full-year earnings and dividends from Associated British Foods were up 6% on the prior year despite revenues falling 3%. Shares were higher early on after the company hailed a "magnificent" year for its Primark clothing chain where oeprating profits jumped 30%.
Cigarette maker Imperial Tobacco was also higher as it hailed rising demand for key brands such as Davidoff, JPS and Lambert & Butler and said it it was boosting its annual dividend by 10% to 128.1p a share.
Spirit Pub Company was in demand after British brewer and pub group Greene King made a firm £773.6m takeover bid, upping the pressure on rival suitor C&C. |
| Market Movers
techMARK 2,774.16 +0.30%
FTSE 100 6,503.33 +0.24%
FTSE 250 15,501.51 +0.31%
FTSE 100 - Risers
Schroders (SDR) 2,454.00p +2.68%
Randgold Resources Ltd. (RRS) 3,797.00p +2.62%
TUI Travel (TT.) 415.50p +2.34%
Legal & General Group (LGEN) 235.50p +2.12%
Imperial Tobacco Group (IMT) 2,722.00p +2.06%
Standard Chartered (STAN) 959.40p +1.91%
Ashtead Group (AHT) 1,050.00p +1.65%
Mondi (MNDI) 1,060.00p +1.53%
Standard Life (SL.) 390.90p +1.51%
Fresnillo (FRES) 705.50p +1.51%
FTSE 100 - Fallers
Tullow Oil (TLW) 475.20p -1.68%
Royal Dutch Shell 'B' (RDSB) 2,246.00p -1.58%
Aggreko (AGK) 1,496.00p -1.58%
Petrofac Ltd. (PFC) 1,066.00p -1.30%
Royal Dutch Shell 'A' (RDSA) 2,169.50p -1.21%
Experian (EXPN) 920.00p -1.13%
BG Group (BG.) 1,024.50p -1.11%
BP (BP.) 438.80p -1.10%
BAE Systems (BA.) 454.70p -0.66%
Burberry Group (BRBY) 1,503.00p -0.40%
FTSE 250 - Risers
Man Group (EMG) 128.30p +3.97%
Homeserve (HSV) 353.30p +3.49%
Centamin (DI) (CEY) 53.65p +2.68%
Morgan Advanced Materials (MGAM) 290.50p +2.22%
Thomas Cook Group (TCG) 127.70p +2.08%
African Barrick Gold (ABG) 212.10p +1.97%
Investec (INVP) 574.50p +1.68%
Lonmin (LMI) 176.10p +1.67%
NMC Health (NMC) 495.00p +1.58%
Stagecoach Group (SGC) 383.10p +1.56%
FTSE 250 - Fallers
Hunting (HTG) 707.00p -3.55%
Jardine Lloyd Thompson Group (JLT) 911.00p -3.09%
Nostrum Oil & Gas (NOG) 650.00p -2.99%
Greene King (GNK) 784.50p -2.97%
Afren (AFR) 73.10p -2.73%
Premier Oil (PMO) 250.10p -2.53%
Regus (RGU) 190.60p -2.26%
Amec (AMEC) 1,033.00p -2.18%
Ophir Energy (OPHR) 186.00p -2.05% |
| | 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
Advanced Computer Software Group, DCC
INTERIM DIVIDEND PAYMENT DATE
M. P. Evans Group
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Trade (US) (13:30)
Factory Orders (US) (15:00)
Goods Orders (US) (15:00)
Producer Price Index (EU) (10:00)
Q3
Alpha Bank GDR (Reg S) USD, Banco Santander S.A. (CDI)
GMS
NextEnergy Solar Fund Limited Red
FINALS
Associated British Foods, Imperial Tobacco Group
ANNUAL REPORT
Victoria Oil & Gas
IMSS
888 Holdings, Jardine Lloyd Thompson Group, Legal & General Group, Persimmon, PPHE Hotel Group Ltd, Unite Group
EGMS
Powerflute Oyj (DI), Societatea Nationala De Gaze Naturale Romgaz S.A. GDR (Reg S)
AGMS
Akers Biosciences, Inc. , DX (Group), JPMorgan Global Convertibles Income Fund Ltd, Mobile Streams, Monitise, Premaitha Health
TRADING ANNOUNCEMENTS
Stock Spirits Group |
| | 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 rise as ECB policy decision looms Stocks in the euro-area rose as European Central Bank (ECB) official Benoit Coeure warned the bloc risks a delayed recovery if governments fail to implement structural reforms.
Couere on Tuesday said that the Eurozone may lose economic momentum unless governments match the ECB's monetary stimulus with policies to boost growth.
"Unless an adequate mix of monetary, fiscal and structural policies is in place to create confidence and sustain private consumption and investment, we once again run the risk of a self-fulfilling loss of momentum and a delayed recovery," he said.
His remarks come ahead of the ECB's meeting on Thursday when it is expected to keep monetary policy unchanged.
With the ECB announcement fast approaching, markets will be keeping a close eye on euro-area economic forecasts from the European Commission on Tuesday.
"For the most part, expectations are low following a somewhat dire 12 months which have seen no country immune to the downturn, as personified by negative growth in Germany," said Alpari UK analyst Joshua Mahony.
"In the past, economic forecasts have been used to determine who is in need of austerity measures, and to what extent. However, with growth floundering and Draghi's actions seemingly blunt in impact, we are now seeing a shift towards encouraging more fiscal expansion and a less fiscally responsible stance."
Also on the economic calendar Tuesday will be the release of UK construction figures, US trade data and US factory orders.
DSM, Hugo Boss
DSM gained after the vitamin maker reporting quarterly results that exceeded analysts' expectations.
Hugo Boss AG declined after the fashion house lowering its 2014 sales outlook.
L'Oreal SA slumped after the cosmetics maker posted a rise in third-quarter sales that missed estimates.
The euro rose 0.22% to $1.2510. |
| | 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 fluctuate as energy stocks fall US stocks fluctuated on Monday, as energy companies dropped with the price of oil after Saudi Arabia said it will cut prices of crude sent to the US.
The Dow Jones Industrial Average closed 24.28 points down to 17,366.24, while the S&P 500 lost 0.24 points to 2,017.81 and the Nasdaq ended the day 11.07 points up to 4,169.28.
The S&P 500 and the Dow Jones Industrial average surged on Friday to all-time closing highs of 2,018 and 17,391 respectively, with investors buoyed by an unexpected increase to Japan's monetary-easing programme.
Manufacturing data released on Monday strengthened the belief that the US economy can sustain a withdrawal in central-bank stimulus. The Institute for Supply Management's factory index increased to 59 in October, matching August as the highest since March 2011, after 56.6 the prior month.
"The S&P 500 was looking a little exposed at all-time highs having skyrocketed higher on Friday [...] but disappointing Chinese and European manufacturing data now look set to bring stocks back down to earth on Monday," said Jasper Lawler, analyst at CMC Markets.
The government's official Chinese manufacturing purchasing managers' index (PMI) unexpectedly declined from 51.1 to a five-month low of 50.8, while the non-manufacturing PMI fell from 54 to a nine-month low of 53.8.
Meanwhile, the final reading of Markit's Eurozone manufacturing PMI for October was revised to 50.6, up from 50.3 in September but down from the initial estimate of 50.7.
In corporate news, Sapient surged 42.03% after French advertising group Publicis SA announced a $3.7bn all-cash deal to buy the US firm.
Geron soared 25.56% after the US Food and Drug Administration removed its hold on the pharmaceutical firm's new drug research application for imetelstat, which is focused on myeloid malignancies.
Covance rose 25.87% after Laboratory Corp. of America Holdings announced it would buy the firm in a $5.6bn cash and stock deal, while Gopro shares climbed 9.36% following positive results at the end of last week.
American Realty Capital Properties tumbled 11.50% following news that the Federal Bureau of Investigation has opened a criminal probe into accounting errors at the real estate investment trust.
The yield on the 10-year US Treasury note was stable at 2.34%, while the 30-year note was unchanged at 3.06 and the five-year Treasuries advanced two basis points to 1.63.
Gold futures slid back slightly to $1,167.10, while West Texas intermediate and Brent crude dropped, ending the day at just over $78 and just over $84 respectively.
The dollar dropped back against the pound but rose against the yen and the euro.
S&P 500 - Risers
Tesoro Corp. (TSO) $73.29 +2.63%
Western Digital Corp. (WDC) $100.75 +2.42%
Southwest Airlines Co. (LUV) $35.31 +2.41%
Seagate Technology Plc (STX) $64.17 +2.13%
Newell Rubbermaid Inc. (NWL) $34.04 +2.13%
Actavis plc (ACT) $247.50 +2.12%
Avon Products Inc. (AVP) $10.62 +2.12%
Newmont Mining Corp. (NEM) $19.12 +1.92%
General Growth Properties Inc. (GGP) $26.40 +1.89%
Simon Property Group Inc. (SPG) $182.42 +1.79%
S&P 500 - Fallers
Agilent Technologies Inc. (A) $40.84 -26.11%
Diamond Offshore Drilling Inc. (DO) $34.72 -7.93%
Laboratory Corporation of America Holdings (LH) $101.23 -7.37%
TripAdvisor Inc. (TRIP) $85.21 -3.89%
QEP Resources Inc (QEP) $24.22 -3.39%
Transocean Ltd. (RIG) $28.87 -3.22%
Noble Energy Inc. (NBL) $55.87 -3.05%
Noble Corporation plc (NE) $20.31 -2.92%
Helmerich & Payne Inc. (HP) $84.29 -2.91%
Newfield Exploration Co (NFX) $31.69 -2.82%
Dow Jones I.A - Risers
Merck & Co. Inc. (MRK) $58.92 +1.69%
Microsoft Corp. (MSFT) $47.44 +1.04%
American Express Co. (AXP) $90.85 +1.00%
Boeing Co. (BA) $126.03 +0.90%
Intel Corp. (INTC) $34.31 +0.88%
Pfizer Inc. (PFE) $30.19 +0.80%
JP Morgan Chase & Co. (JPM) $60.88 +0.66%
Nike Inc. (NKE) $93.45 +0.52%
Goldman Sachs Group Inc. (GS) $190.83 +0.44%
Cisco Systems Inc. (CSCO) $24.57 +0.41%
Dow Jones I.A - Fallers
Chevron Corp. (CVX) $116.78 -2.64%
Exxon Mobil Corp. (XOM) $95.26 -1.50%
Home Depot Inc. (HD) $96.09 -1.47%
Caterpillar Inc. (CAT) $100.22 -1.17%
Travelers Company Inc. (TRV) $99.95 -0.84%
United Technologies Corp. (UTX) $106.30 -0.65%
General Electric Co. (GE) $25.70 -0.43%
E.I. du Pont de Nemours and Co. (DD) $68.88 -0.39%
3M Co. (MMM) $153.30 -0.31%
Johnson & Johnson (JNJ) $107.46 -0.30%
Nasdaq 100 - Risers
Western Digital Corp. (WDC) $100.75 +2.42%
Seagate Technology Plc (STX) $64.17 +2.13%
Charter Communications Inc. (CHTR) $161.69 +2.08%
Nvidia Corp. (NVDA) $19.88 +1.74%
Activision Blizzard Inc. (ATVI) $20.30 +1.73%
Whole Foods Market Inc. (WFM) $39.95 +1.58%
Symantec Corp. (SYMC) $25.20 +1.53%
Sirius XM Holdings Inc (SIRI) $3.48 +1.46%
Staples Inc. (SPLS) $12.85 +1.34%
Apple Inc. (AAPL) $109.40 +1.30%
Nasdaq 100 - Fallers
TripAdvisor Inc. (TRIP) $85.21 -3.89%
Gilead Sciences Inc. (GILD) $109.98 -1.80%
Facebook Inc. (FB) $73.88 -1.48%
Netflix Inc. (NFLX) $388.41 -1.11%
Baidu Inc. (BIDU) $236.47 -0.96%
Akamai Technologies Inc. (AKAM) $59.72 -0.96%
CH Robinson Worldwide Inc (CHRW) $68.68 -0.77%
Check Point Software Technologies Ltd. (CHKP) $73.70 -0.74%
Google Inc. (GOOGL) $563.77 -0.72% |
| | PROVEN Trading Strategy - Currently running at 70% success rate | | Earn a tax free income trading, from just 20 minutes a day – no experience needed. Our powerful trading software will help you decide when to enter trades and how to maximise profits.
Register for a FREE brochure and trading guide, Click Here. |
| | Broker Tips | | Broker tips: HSBC, RBS, Wm Morrison, Rolls-Royce, Just Eat Hargreaves Lansdown Stockbrokers has hailed a "strong operating quarter" for HSBC, but has said that analysts covering the stock remain on the fence due to regulatory issues.
"Unfortunately, the provisions cannot be ignored and the ongoing costs of PPI and the forex investigations are also joined by an additional US booking. General cost inflation is another drag on the numbers whilst the company's exposure to the emerging markets is occasionally of concern," Hargreaves said.
Investec has downgraded its recommendation for Royal Bank of Scotland from 'hold' to 'sell' despite Friday's well-received third-quarter results, saying that the earnings and returns outlook for the bank is still weak.
"It is true that RBS is (by far) the top performing UK bank year-to-date. However it has regularly offered clear (short-term) selling opportunities throughout the year and we believe the strength of Friday's euphoria has just presented another one," Gordon said.
Current trading conditions at Wm Morrison are a "worry to our minds", according to analysts at Shore Capital who repeated their 'hold' rating on the stock ahead of the supermarket chain's third-quarter update this week.
"We expect Morrison's to continue to report trading that is a little short of grim," said analysts Clive Black and Darren Shirley, adding that the firm is now entering a "critical quarter".
Canaccord Genuity has lowered its recommendation and slashed its target for Rolls-Royce, saying it sees "trouble ahead" for the engine maker as some divisions enter a period of slower growth.
The broker said it has "tempered our expectations for group earnings progression" after Rolls-Royce downgraded its 2014 and 2015 growth guidance last month. As such, the stock is now rated 'hold' (previously 'buy') and the target has been cut from 1,200p to just 850p.
Online takeaway food marketplace Just Eat is growing at an impressive rate, but Peel Hunt reiterated its 'hold' recommendation for the stock on Monday on the back of the company's long-term outlook. | | |
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